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 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 918-984-1645In a hurry? Text a photo of a royalty check stub to 918-984-1645 and our preliminary offer puts a written number in front of you within about two business days. It holds for 7 while you decide.
'My buy it now price is $1000 per acre and 1/4 because that's what my cousin got from Newfield in 2N-4W.'
Why showing up matters for an Oklahoma landman. The leases and units go to the one willing to drive to Minco before dawn, not the big company landman in Edmond.
A story about a Canadian County lease with cessation language, a well that had just died, and a $100k deal lost because the owner would not take a phone call.
Oklahoma operators are in a pinch: Chesapeake, Linn Energy, lower lease prices, more litigation, and why private equity and Wall Street never call prices right.