Marathon Oil Corp. plans to increase its Bakken activity.

Related: Continental Plans 26% Growth for Bakken

Marathon announced their 2016 results last week including a fourth quarter 2016 net loss of $1,371 million. 

The company's Bakken production during the quarter averaged 52,000 net boed, down only slightly from the prior quarter's average of 54,000 net boed. Other full year results include:

• 2016 capital program at $1.1 billion, $300 million below original budget
• Total production averaged 393,000 net boed 
• E&P production averaged 342,000 net boed
• Ended the year with 12 rigs operating in the U.S. resource plays 
• Decreased G&A expenses by 18% year over year
• Non-core asset sales for approximately $1.3 billion, excluding closing adjustment
• Year-end liquidity of $5.8 billion 

2017

For the remainder of 2017,  Marathon expects to average approximately six drilling rigs and will focus on optimizing base production, while bringing 70 to 75 gross Company-operated wells to sales.