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Anadarko reaffirms full-year production forecast

Tue May 13, 2008 8:02pm EDT
 
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NEW YORK, May 13 (Reuters) - Anadarko Petroleum Corp (APC.N: Quote, Profile, Research, Stock Buzz) on Tuesday reaffirmed its full-year production outlook, after Enterprise Products Partners (EPD.N: Quote, Profile, Research, Stock Buzz) said it expects to complete repairs of its Independence Trail export pipeline in the first half of June, not in mid-May as previously thought.

Anadarko, one of the world's largest independent oil and natural gas exploration and production companies, said it still expects full-year production at 207 million to 212 million barrels of oil equivalent.

"Assuming production can be resumed at Independence Hub in the first half of June, we still expect to be within the range of our full-year production guidance," Jim Hackett, Anadarko chairman and chief executive, said in a statement.

The Independence Trail pipeline transports natural gas from the Anadarko-operated Independence Hub processing platform in the deepwater Gulf of Mexico, Houston-based Anadarko said.

A leak in the export pipeline was discovered in early April, and production has been shut in since that time. (Reporting by Ilaina Jonas; Editing by Gary Hill)

 

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