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Anadarko Petroleum Corp., on the strength of current and future satellite discoveries, has set a goal of increasing oil reserves passing through the Alpine production facilities from 430 million barrels to 1 billion barrels.
The company told analysts in a March 20 meeting that 160 million barrels of the 570 million barrels of additional reserves would come from three proven satellites and the remainder hopefully from future discoveries near the Alpine field.
The additional reserves would help sustain Alpine production at roughly 100,000 barrels a day for the next 10 years, Anadarko said. The company said Alpine is expected to produce its first 100 million barrels by the end of the year. Alpine launched production in November 2000.
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