Marathon Oil Corp.’s announced deeper cuts to its 2020 capital expenditures budget came on the same day the company filed reports showing more than a thousand barrels of oil from two sister wells in Oklahoma’s Stephens County. But by all indications, they might also be the company’s last Oklahoma wells for a while.
The Parks 0105 wells were drilled on a single pad at 36 1N 5W, a site located several miles north of Velma. Both wells had spud dates in July 2019.
The first had production of 447 barrels of oil a day along with 864 Mcf of natural gas when it was completed in January 2020 from a depth of 21,626 feet in the Mississippian formation.
The second well produced 557 barrels of oil a day and 856 Mcf of natural gas from a depth of 19,923 feet when it was completed in February 2020. Combined production totaled 1,004 barrels of oil a day.
Continental Resources continued its string of completion reports, filing two for wells in Grady County. Both were located north of the town of Alex, one at 36 6N 6W with production of 344 barrels of oil a day and 3,493 Mcf of gas, and the second well at 29 6N 5W with production of 174 barrels of oil a day and 819 Mcf of natural gas.
Citizen Energy III llc based in Tulsa finished a gas well in Custer County. Located at 24 14N 15W, the Morgandy 1h-25-36 well had production of 4,938 Mcf of gas from 25,475 feet. The well is located approximately 5 miles south of the town of Thomas.
It had a July 2018 spud date and was completed in June 2019.