HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
August 2008

Vol. 13, No. 32 Week of August 10, 2008

Anadarko spent $30M in Alaska in 2Q

Anadarko Petroleum spent $30 million on exploration and production work in Alaska during the second quarter of the year, according to company executives who spoke during an earnings call on Aug. 5.

The large Texas-based independent oil company spent $1.2 billion companywide over the three month period from April through June, with 75 percent of that, or $928 million, spent in the U.S., including the Gulf of Mexico.

During the second quarter of the year, Anadarko saw slightly increased production from the ConocoPhillips-operated Colville River unit. Anadarko maintains a working interest in the western North Slope unit, which produced around 112,000 gross barrels of oil per day, up from around 110,000 bpd in the first quarter of the year.

ConocoPhillips and Anadarko drilled five new development wells in the unit during the second quarter, including the first of eight proposed development wells at the Qannik oil field, an Alpine satellite.

The companies started production at Qannik in early July, several months ahead of schedule. Anadarko owns a 22 percent working interest in Qannik.

Anadarko spent $31 million in Alaska during the first quarter of the year, a period of time when the company drilled several exploration and development wells in northern Alaska, including a high-profile gas exploration effort in the foothills of the Brooks Range.

The company is currently planning to return to the Brooks Range this winter with two rigs. This past winter Anadarko had one rig under contract for gas drilling.

—Eric Lidji






Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.