* Seen as "potentially giant" project
* Shares rise 1.4 percent post market
March 19 U.S. oil and gas company Anadarko
Petroleum Corp said on Tuesday it has discovered a large
amount of oil at its Shenandoah-2 well in the deepwater Gulf of
Anadarko has a large and active portfolio of deepwater oil
and gas prospects in places including the Gulf of Mexico and
"The successful Shenandoah-2 well marks one of Anadarko's
largest oil discoveries in the Gulf of Mexico," Bob Daniels,
Anadarko's head of exploration, said in a statement.
Log and pressure data from the appraisal well indicate
excellent-quality reservoir and fluid properties and more
drilling will be done to advance this "potentially giant
project," Daniels said.
The well, located in Walker Ridge block 51, was drilled to a
total depth of about 31,405 feet in about 5,800 feet of water.
Anadarko is the operator at Shenandoah with a 30 percent
interest in the prospect. ConocoPhillips also holds a 30
percent interest, Cobalt International Energy LP has a
20 percent interest and Marathon Oil Corp and Venari
Resources LLC each have a 10 percent stake.
Shares of Houston-based Anadarko rose 1.4 percent to $84.50
in post-market trading.