HOUSTON, May 22 /PRNewswire-FirstCall/ -- Marathon Oil Corporation announced today it will locate the Company's Bakken Shale operations office in Dickinson, North Dakota. In addition, the Company has entered into a lease agreement for 8,000 square feet of office space in the Fischer Martin office building located at 3225 Highway 22 North in Dickinson. Marathon will continue to evaluate its options in the market for a permanent office in Dickinson.
"Our entry into Bakken Shale is very important to Marathon, but equally important was finding a community that could both support our business and provide a positive quality of life for our employees and contractors," said Marcus Allen, Marathon's Northern Business Unit leader. "The Dickinson community has invested significantly in infrastructure and other quality of life improvement projects which were important to our decision making process. We are very excited to be joining the community of Dickinson and we look forward to meeting new friends and making a positive impact in the community."
Approximately 20 to 30 Marathon employees and contractors will be based in Dickinson by year-end, with additional employees added as the activity level increases during 2007 and beyond. Additional personnel will commute into Dickinson on a regular basis from Marathon's corporate headquarters in Houston. The company is currently accepting applications for the following positions: land professionals, health, environment and safety technician, requisition specialist, and regulatory compliance representatives. Interested applicants should apply online via the Company's website at http://www.marathon-careers.com/ .
"Marathon strives to bring value and values together. The Company creates value for its shareholders and provides quality products and services for its customers. In doing so, Marathon acts safely and responsibly toward employees, the communities in which we operate and our business partners. At Marathon, we call this 'Living Our Values,'" added Allen.
"We are very pleased Marathon has selected Dickinson for its office site and we appreciate the confidence the Company has in our community," said Dennis Johnson, Commission President for the City of Dickinson. "In addition to bringing good jobs to our community, I am convinced that Marathon will make a good corporate citizen and the Company and its employees will make a positive impact in the community."
"We are very excited to welcome Marathon to Dickinson," said Rich Wardner, executive director of the Dickinson Chamber of Commerce. "Dickinson is a community that is experiencing positive growth due to its excellent leadership and the fact that it is a great place to live, work and play. Marathon will bring talented employees to Dickinson that will contribute to our community in many ways. The Chamber looks forward to working with Marathon to help them meet their goals."
"We have made a strong effort to make Dickinson a livable community. These efforts made it possible to welcome Marathon to the community," said Gaylon Baker, executive vice president Stark Development. "Marathon brings more than just their employees and jobs into the community. The company's activities bring long-term positions in related fields and service industries to the greater area. In addition, we like the fact that Marathon brings state-of-the-art technology and safety practices to the areas where it does business."
Everett Real Estate, Inc. represented Marathon in its transaction with Fisher Martin.
Marathon recently announced that the Company completed a series of land acquisitions totaling almost 200,000 leasehold acres in the Bakken Shale play, located in North Dakota and eastern Montana. Marathon's acreage is located within Billings, Divide, Dunn, McKenzie, Mountrail, and Williams Counties in North Dakota and Richland County in Montana. The Company anticipates participating in the drilling of approximately 300 wells over the next four to five years with additional infill potential likely. This program has the potential to add more than 20,000 barrels of oil equivalent per day of production by 2012.
Marathon is the fourth-largest U.S.-based fully integrated international energy company engaged in exploration and production; integrated gas; and refining, marketing and transportation operations. The Company has exploration and production activities in the United States, the United Kingdom, Angola, Canada, Equatorial Guinea, Gabon, Ireland, Libya and Norway. Marathon also is developing integrated gas projects that are linking stranded natural gas resources with key demand areas where domestic production is declining and demand is growing, particularly in North America. Marathon is the fifth largest refiner in the U.S. The Company's retail marketing system comprises approximately 5,500 locations in 17 states. For more information about Marathon, please visit the Company's Web site at http://www.marathon.com/ .
This release contains forward-looking statements with respect to potential significant resources, anticipated future drilling activities and the timing and levels of liquid hydrocarbon and natural gas production. The forward- looking statements with respect to potential resources may be affected by a number of factors including, among others, presently known data concerning size and character of reservoirs, economic recoverability, technology developments, future drilling success, industry economic conditions, levels of cash flow from operations, production experience and other operating conditions. The forward-looking statements with respect to the anticipated future drilling activities and timing and levels of liquid hydrocarbon and natural gas production may be affected by pricing, supply and demand for petroleum products, amount of capital available for exploration and development, regulatory constraints, drilling rig availability, inability or delays in obtaining necessary government or third-party approvals or permits, timing of commencing production from new wells, unforeseen hazards such as weather conditions, acts of war or terrorist acts and the governmental or military response, and other geological, operating and economic considerations. This forward-looking information may prove to be inaccurate and actual results may differ significantly from those presently anticipated. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Marathon Oil Corporation has included in its Annual Report on Form 10-K for the year ended December 31, 2005, and subsequent Forms 10-Q and 8-K, cautionary language identifying other important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements.
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