Anadarko Petroleum announces two finds in Gulf of Mexico

Anadarko Petroleum announces two finds in Gulf of Mexico

Texas-based deep-water E&P company Anadarko Petroleum has announced two new discoveries in the US Gulf of Mexico.

One, at the Warrior well, is operated by Anadarko and the company has a major 65% stake, with the other parties being Ecopetrol (20%) and MCX Exploration (15%). Anadarko said it found more than 210 feet of net oil pay in multiple high-quality Miocene-aged reservoirs.

The other discovery was at the Phobos well and, Anadarko said, contains 90 feet of net high-quality oil pay in Pliocene-aged reservoirs.

Woodlands-headquartered Anadarko also announced the completion of its purchase of Gulf of Mexico assets from Freeport-McMoran Oil & Gas. This deal, first announced in September, cost $2bn and doubles Anadarko’s ownership in the Lucius development to around 49%.

The discoveries and acquisition mark an uptick in fortunes for Anadarko a year on from December 2015 when it was ordered to pay $159.9m for its role as a partner of BP in the Deepwater Horizon oil rig disaster and posted losses of $1.25bn in the final quarter of that year.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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