Senior Vice President of Exploration Bob Daniels explained the discovery in the Shenandoah basin makes it one of the most prolific in the deep waters of the Gulf of Mexico.
"We are incorporating the information obtained from Shenandoah-2 into our planning and anticipate further appraisal drilling to advance this potentially giant project," Daniels said.
Anadarko said the well was drilled to a depth of more than 31,000 feet in waters that were 5,800 feet deep.
Two U.S. senators this week introduced legislation that would cut government support for oil companies drilling in deep waters of the Gulf of Mexico, citing lingering concerns for BP's spill in 2010.
Anadarko in the past touted the reserve potential after encountering around 300 feet of oil pay in the Gulf of Mexico by comparison.
Anadarko and ConocoPhillips each hold a 30-percent working interest in the project that includes minor stakeholders Marathon Oil and Venari Resources LLC.
The U.S. Interior Department holds a lease sale in New Orleans for nearly 39 million offshore acres available for oil and gas development in the Gulf of Mexico.
Swim Week Miami Beach 2014 [PHOTOS]