Sunday, December 30, 2007

Marathon Buys PDC Acreage

Marathon has purchased from PDC about 72K undeveloped acres and most of the company's Bakken wells for almost $35 million effective 12/31. The transaction brings Marathon's net acreage up to 320K acres. Fox News

PDC and Marathon had a AMI in a large part of Bailey Field in Dunn Co., where each was developi
ng their interests in a checkerboard pattern, but PDC hadn't been active in the area since last summer. Marathon is going to need a few more rigs besides the six it currently operates to hold a lot of its proven acreage, where the leases mostly expire in two years or less.

Speaking of Marathon, here are a few pictures of their operations in Bailey Field near Killdeer in Dunn Co.

It also appears that Billings, MT based Nance Pet. has sold most or all of their interest in ND to St. Marys Land & Exploration.

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