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North DakotaMarathon holds approximately 336,000 net acres in the Bakken oil play in North Dakota and eastern Montana. The Company’s acreage is within the established Williston Basin in Billings, Divide, Dunn, McKenzie, Mountrail and Williams counties in North Dakota, and Richland County in Montana, with net risked potential resources of approximately 150 million barrels of oil equivalent. The position provides Marathon access to significant resources in North America. The Company draws upon its extensive experience in reservoir characterization, horizontal drilling, well stimulation, and commercial and marketing expertise in the Rocky Mountain Basins to leverage this substantial position in the Bakken formation. Drilling commenced in May 2006, leading to first production from Marathon-operated Bakken wells in August 2006. The Company currently has four rigs drilling in the Basin. Marathon anticipates drilling approximately 225 gross wells over the next five years, with the potential to have approximately 15 mboepd of net peak production by 2015. |
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