Anadarko Petroleum raises 2014 capex budget by about 8 pct

March 4 Tue Mar 4, 2014 8:34am EST

March 4 (Reuters) - Anadarko Petroleum Corp raised its 2014 capital budget by nearly 8 percent and said it would spend about 60 percent of the total on drilling more oil wells onshore in North America.

The company said capital investments this year are expected to be between $8.1 billion and $8.5 billion, excluding investments associated with its unit Western Gas Partners LP .

Anadarko spent $7.7 billion in 2013.

The company expects oil production to rise by about 40,000 barrels per day in 2014.

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