Apr. 2012 - During the first quarter of 2011, the Caterpillar exploration well in PL 340BS was completed as an oil discovery. Caterpillar, located close to the Boyla field, will now most likely be developed through the Boyla subsea development facilities.

Feb. 2011 - Marathon has discovered oil in its Caterpillar exploratory well in the Norwegian sector of the North Sea. The Caterpillar exploration well reached a total vertical depth of 7,090 feet (2,161 meters) in the Paleocene Lista formation. The primary objective of the well was to prove oil in the upper Paleocene reservoir rocks in the Hermod formation. Both the Caterpillar main exploration well, as well as its sidetrack, encountered an 85 and 79 foot (26 and 24 meter) oil column, respectively, in sandstone reservoirs in the Hermod formation. Preliminary gross resource range for the Caterpillar discovery is estimated at 5 to 12 MMboe. The operator is planning to tie-back the Caterpillar discovery to the Boyla development, formerly Marihone, located about 5 miles (8 kilometers) to the southeast. Marathon operates the license, holding a 65% interest. Partners in the license include Lundin (15%) and ConocoPhillips (20%).

Jan. 2011 - Marathon has spud exploratory well 24/9-10S on the Caterpillar prospect in Production License 340BS in the Norwegian sector of the North Sea. The prospect, located 4 miles (6 kilometers) east of the Marihone discovery, will target sandstones of the Hermod formation in the same reservoir trend as the discovery. The Caterpillar prospect is estimated to contain gross unrisked prospective oil resources of 11 million barrels of oil, and if a discovery is made, it will potentially be developed as a satellite to the Marihone discovery, announced Lundin, a partner on the field. The Transocean Winner semisub is drilling the well to a planned total depth of 7,103 feet (2,165 meters). Marathon operates the license, holding a 65% interest. Partners in the license include Lundin (15%) and ConocoPhillips (20%).

Oct. 2010 - Marathon Petroleum was granted consent to carry out exploratory drilling in the Norwegian sector of the North Sea using the Transocean Winner semisub. The consent relates to drilling of exploration well 24/9-10 S, which is part of production license 340/340 BS. Drilling is expected to start in October 2010, and the plan is to drill a directional wellbore, and, depending on the result, one sidetrack. The water depth at the site is 394 feet (120 meters).