Marathon cuts E&P budget

摘要

Marathon has slashed its 2009 international exploration and production budget by 26% to US $2.5 Bn from $3.3 Bn in 2008. During 2009, Marathon said it expects to spend $1.1 Bn on projects that will sustain and grow production in the short term. “This includes funds for resource plays in the Bakken Shale and Piceance Basin, domestic oil and gas assets, and international projects such as development drilling in the UK Foinaven area and the Volund development in Norway,” Marathon said in a statement.