Dec 4 Anadarko Petroleum Corp on Tuesday
said shorter drilling times in its onshore basins like the Eagle
Ford shale in south Texas are driving its energy production
To date in the fourth quarter, Anadarko said its Eagle Ford
drilling times averaged less than 9.5 days per well, a 25
percent improvement over a year earlier.
As a result of that and other efficiencies, the company said
its expects its fourth-quarter oil and natural gas operating
costs to fall to $3.90 to $4.00 per barrel oil equivalent (boe)
from a prior forecast for $4.00 to $4.20 boe.
Additionally, four of Anadarko's U.S. fields each produced
more than 100,000 boe per day this quarter, a factor that will
help the company achieve its full-year output forecast for 265
to 267 million boe, it said.
Analysts at Houston energy investment bank said Anadarko was
"firing on all cylinders" and raised its earnings per share
estimate for the fourth quarter to 83 cents per share from 81
cents per share.
Shares of Anadarko rose 4 cents to $73.83 in late morning
New York Stock Exchange trading.