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MCS - Marathon suspends exploration, SCOOP/STACK programs - March 10, 2020
Marathon Oil is reducing its plans for 2020 in the midst of the price rout. The company will trim at least $500 million from its previously announced 2020 capex budget of $2.4 billion. The new top-end guidance of $1.9 billion would be a 30% reduction compared with 2019. Until further notice, Marathon is suspending its resource play exploration and leasing activity, which eliminated planned wells in its new Texas Delaware Basin play targeting the......
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