Profile: Anadarko Petroleum Corp (APC)
25 May 2017
Anadarko Petroleum Corporation (Anadarko), incorporated on June 12, 1985, is an independent exploration and production company. The Company is engaged in developing, acquiring, and exploring for oil and natural-gas resources. The Company's segments include Oil and Gas Exploration and Production; Midstream, and Marketing. The Company's geographical segments include the United States and International. The Oil and Gas Exploration and Production segment explores for and produces oil, condensate, natural gas and natural gas liquids (NGLs), and focuses on the development and operation of the Company's liquefied natural gas (LNG) project in Mozambique. The Midstream segment engages in gathering, processing, treating and transporting Anadarko and third-party oil, natural-gas and NGLs production. The Marketing segment sells Anadarko's oil, natural-gas and NGLs production, as well as third-party purchased volumes. As of December 31, 2016, the Company had approximately 1.7 billion barrels of oil equivalent (BOE) of proved reserves.
The Company's operations in the United States include oil and natural-gas exploration and production in the United States onshore Lower states, deepwater Gulf of Mexico and onshore Alaska. Anadarko's the United States onshore properties include oil and natural-gas plays located in Colorado, Texas, Utah, Wyoming, Pennsylvania, Louisiana, and Kansas, where the Company operated approximately 12,700 wells and owned interests in approximately 3,500 nonoperated wells as of December 31, 2016. It is focused on adding reserves through horizontal drilling and infill drilling and delineating positions in the Delaware and DJ basins. The Company also divested non-core the United States onshore assets, primarily in West Texas, East Texas/Louisiana, Wyoming, and Kansas.
As of December 31, 2016, the Company had interests in over 580,000 gross acres in the Delaware basin and drilled 103 operated wells and participated in 36 nonoperated wells. As of December 31, 2016, the Company had identified more than 7,000 potential short-lateral-equivalent drilling locations in the Wolfcamp formation that are expected to provide substantial opportunity for Anadarko's future activity in the basin. As of December 31, 2016, the Company had interests in over 350,000 net acres in its core position and operated approximately 5,200 vertical wells and 1,220 horizontal wells in the DJ basin. The Company's drilling program focused entirely on horizontal development, drilling 91 horizontal wells. As of December 31, 2016, the Company operated approximately 2,930 wells in the area. As of December 31, 2016, the Company had 172,000 gross acres in the Eaglebine shale in Southeast Texas, most of which is held by existing Austin Chalk production. As of December 31, 2016, the Company operated over 960 wells in the Moxa field in Wyoming.
Anadarko's international operations include oil, natural-gas and NGLs production and development in Algeria and Ghana, along with activities in Mozambique. The Company also has exploration acreage in Colombia, Cote d'Ivoire, Mozambique, New Zealand, Kenya and other countries. Anadarko is engaged in production and development operations in Algeria's Sahara Desert in Blocks 404 and 208. The Company produces oil through the Hassi Berkine South and Ourhoud central processing facilities (CPF) in Block 404, and oil, condensate and NGLs through the El Merk CPF in Block 208. Anadarko's production and development activities in Ghana are located offshore in the West Cape Three Points Block and the Deepwater Tano Block. In Mozambique, Anadarko operates Offshore Area 1, which totals approximately 1.2 million gross acres. In Colombia, Anadarko controls the rights to explore or conduct technical evaluation activities on approximately nine blocks totaling approximately 20 million gross acres as of December 31, 2016. In Cote d'Ivoire, As of December 31, 2016, Anadarko owned an operated working interest in approximately four offshore blocks totaling approximately one million gross acres. As of December 31, 2016, Anadarko owned an operated working interest in four offshore blocks totaling approximately 1.0 million gross acres. Anadarko also holds exploration interests in other offshore international areas including Canada, Kenya, New Zealand, and South Africa, among others.
Anadarko Petroleum Corp
1201 Lake Robbins Dr
THE WOODLANDS TX 77380-1181
Company Web Links
- BRIEF-Anadarko Petroleum agreed to settle Western Gas Equity Partners' deferred purchase price obligation
- BRIEF-Western Gas Partners and Anadarko Petroleum agrees to settle Co's deferred PP obligation
- BRIEF-Omega Advisors Inc takes share stake in Alcoa, Netflix
- BRIEF-Anadarko announces leadership changes
- BRIEF-Anadarko declares dividend