When did Marathon Oil buy TXO Production? Was it '92? Despite the fact the Marathon has owned this acreage for 20+ years, they still can't make a decision about what they are going to do with it. According to their last investor presentation, they don't have the budget to participate in non-operated wells (~$50m for 2016 in the Mid-Continent) so their goal is to stop others from developing the section. Protest after protest at the Oklahoma Corporation Commission. Incredible that MRO is still considered a player and they are completely paralyzed by the fear of making making decisions. If not now, when? How much longer do you need to evaluate your assets? Does the process start over again year after year when someone leaves the team? Squandering shareholder value at every turn. Booking PUDs off other companies wells who undertake the risk to explore. Eventually the bloat and inaction will allow them to be overtaken. Dismantled piece by piece by men who have a bias for action.
More to follow.
Berlin
Berlin Royalties buys Oklahoma minerals and royalties, and we show you the work behind every offer. Free, no obligation, and if keeping them is the right answer we will tell you that too.
Get a Free Valuation or call or text 918-984-1645You’ve got a well producing on your minerals, and now there’s a thick envelope in your mailbox. Inside is something called a “Division Order” …
If you’ve received official-looking paperwork from the Oklahoma Corporation Commission with your name listed as a “Respondent,” you’re not bei…
1. Confirm what you own (minerals vs royalty vs ORRI; net acres/decimals; location).