Anadarko's 3 D's | Russell T. Rudy Energy LLC
Anadarko Petroleum Corp sees its future in the Delaware Basin, DJ Basin and the Deepwater Gulf according to a recent article in “Rigzone”.
The Delaware Basin is a subset of the Permian Basin of West Texas and Southeast New Mexico, and is arguably the hottest oil and gas play in the U. S. Anadarko is already heavily committed to the Delaware Basin with seven rigs currently running and plans to add two more by year-end. Cost reductions and enhanced completion techniques have made this area especially attractive for Anadarko. The company anticipates estimated ultimate recoveries of more than one million barrels of oil per well in the Wolfcamp A formation with total recovery of more than two billion barrels of oil equivalent (boe). Additional upsides are anticipated from the Avalon and Bone Springs zones as well.
The Denver-Julesberg (DJ) Basin of Colorado is another focus area for Anadarko. The operator plans to add two more rigs this year, bringing the total to four. The goal is to drill 90 more wells and complete an additional 50 drilled, but as yet uncompleted, wells. The company expects to ultimately recover 1.5 billion boe in the play.
For now, the Lucius field is the centerpiece of Anadarko’s deep water Gulf of Mexico operations. However, new development wells in the KS and Caesar-Tonga fields have been encouraging. These, along with assets acquired from Freeport-McMoRan, should bring Anadarko’s daily production in the deep water to 160,000 boe per day.
These investments in the “3 D” areas are being financed in part by Anadarko’s sale of its East Texas assets for $1 billion. While the “3-D’s” will be the focus, the company is also exploring offshore Colombia and Ivory Coast and plans to start development of its recent discovery of the Constellation Field in the deep water Gulf.
To read the article in its entirety, please go to http://www.rigzone.com/news/oil_gas/a/147263/Anadarko .
Russell T. Rudy Energy, LLC buys oil, gas and mineral interests nationwide. Please call (800-880-0940), or write (info@rudyenergy.com ) to let us know if you agree, disagree or would just like to comment on this, or any of our posts.
