Aurora Oil & Gas Limited ("Aurora") (ASX:AUT) (TSX:AEF) advises that Marathon Oil Corporation, whose subsidiary Marathon Oil EF LLC is Aurora's operating partner in the majority of its Eagle Ford interests, has provided updated 2014 guidance on its Eagle Ford operations at its scheduled analyst day briefing in New York.
Aurora is in final discussions with Marathon and concluding its analysis regarding specific plans for 2014 on their jointly-owned Sugarkane Field assets. The results of this analysis will have a materially positive impact on Aurora's own guidance for 2014. Aurora will issue 2014 guidance by early January 2014.
Initial implications for Aurora
Marathon's accelerated development program and move to tighter development spacing is expected to have a materially positive impact on Aurora's production and reserves growth. More wells are expected to be developed in 2014 at lower capital costs resulting in a material increase in production.
Aurora is preparing guidance for 2014 and will update the market in early January 2014.
About Aurora
Aurora is an Australian and Toronto listed oil and gas company active in the over-pressured liquids rich region of the Eagle Ford shale in Texas, United States. Aurora is engaged in the development and production of oil, condensate and natural gas in Karnes, Live Oak and Atascosa counties in South Texas. Aurora participates in approximately 80,300 highly contiguous gross acres in the heart of the trend, including approximately 22,100 net acres within the Sugarkane Field in the over-pressured and liquids core of the Eagle Ford.
