Marathon leaves Gulf of Mexico
USA Marathon abandoned the well with no further activity planned citing failure to reach the tertiary target interval. The original lease price for the three Solomon fields was $198 million in 2008.
The announcement comes after Chevron announced a discovery in its Anchor field and Anadarko continues to drill in the Shenandoah field, both in the Gulf.
Marathon Oil’s stocks fell by 3.9 percent Wednesday as continued oversupply concerns over the December 4 <a href=’https://theenergyyear.com/companies-institutions/opec/’>OPEC meeting pulled down oil company shares across the board. The stock lost a further 5.4 percent in the New York Stock Exchange following the news of the well.
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