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Gulf of Mexico, U.S. shale rewarding for Anadarko

Feb. 4, 2014 at 7:40 AM   |   Comments

HOUSTON, Feb. 4 (UPI) -- Anadarko Petroleum, a company with headquarters in Houston, said its oil production from shale basins in the United States increased 25 percent year-on-year.

Anadarko said "strong performance" in the Eagle Ford shale basin in the southern United States, the so-called East Texas/North Louisiana area and the Marcellus shale in the Appalachian region led to an increase in production last year.

The three areas combined led to an average production increase of 59,000 barrels of oil equivalent per day for Anadarko in 2013, a 25 percent increase from the previous year.

Off the U.S. coast in the deep waters of the Gulf of Mexico, Anadarko said last year it became the only company working in the region to serve as the operator at three oil discoveries in the Shenandoah basin. In May, the company said it encountered an oil layer measuring more than 1,000 feet thick while drilling into Shenandoah.

For 2013, Anadarko said its full-year sales of 285 million barrels of oil equivalent represented a 7 percent increase from the previous year.

Al Walker, the company's top executive, said in a statement Monday a strong 2013 came as a result "unmatched portfolio management."

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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