From Anadarko Petroleum today (statement makes no mention of Utica shale):
HOUSTON, TX -- (Marketwired) --
"Anadarko is uniquely positioned to build upon our multi-year track record of success and to deliver sustained growth and unmatched optionality in 2014 and beyond," said Anadarko Chairman, President and CEO
"During 2014, Anadarko expects to drill up to 25 high-potential deepwater exploration/ appraisal wells. Additionally, we plan to continue accelerating value through active portfolio management and monetizations, as demonstrated by the recently announced divestiture of our non-operated assets in
2014 Capital Program and Expectations
Total 2014 capital investments are expected to be
|2014 Capital Expectations ($8.1 - $8.5 billion)*|
|By Area||By Product|
|International & DW Operations||20%||Liquids Rich||15%|
|International & DW Exploration||10%||Dry Natural Gas||5%|
|Midstream & Other||10%||Other||10%|
|* Excludes capital investments associated with Western Gas Partners, LP (NYSE: WES)|
|Note: All percentages are approximates.|
More than 80 percent of Anadarko's 2014 U.S. onshore capital investments will be allocated toward oil and liquids-rich opportunities. As a result, the company expects to increase its total U.S. onshore year-over-year same-store(2) sales volumes by more than 10 percent to more than 625,000 BOE per day for full-year 2014, including an approximate 50,000 barrels-per-day increase in liquids volumes. Much of this growth is expected to be driven by the company's Wattenberg Horizontal program in
The Wattenberg Horizontal program generates the strongest returns in Anadarko's U.S. onshore portfolio and is expected to achieve significant growth in 2014, as the company realizes the benefits from its concentrated acreage position and infrastructure expansions. These expansions include the 300-million-cubic-feet-per-day (MMcf/d)
Anadarko also is accelerating its operated activity in the Wolfcamp oil play where it has evaluated about 20 percent of its approximate 600,000-gross-acre position. The company has already identified more than 1,000 drilling locations in this de-risked area of the Wolfcamp, with significant additional upside as it evaluates the remaining acreage and potential stacked-pay intervals. In 2014, the company expects to operate eight to 10 rigs, with plans to drill more than 80 wells.
Anadarko is on schedule to achieve first oil from its 80,000 barrels-of-oil-per-day Lucius development late in the second half of 2014, just three years from the time it was sanctioned. The company's
Anadarko's 2014 deepwater Gulf of
In 2014, Anadarko expects to realize a full-year's benefit of oil production from the world-class El Merk project in
The company's international exploration/appraisal program includes 15 to 18 planned deepwater wells, primarily in East and
Details about the company's 2014 guidance and updated hedging positions are provided in the attached tables, and a reconciliation of Anadarko's same-store sales volumes is provided below.
|Same-Store(1) Sales Volumes|
|2013||2014 Expectations||Year-Over-Year Increase|
|274 MMBOE||290 - 294 MMBOE||6% - 7%|
(1) "Same-store" sales volumes are intended to present performance of Anadarko's continuing asset base, giving effect to significant recent divestitures; accordingly, sales volumes presented, exclude approximately 11 million barrels of oil equivalent (BOE) of 2013 production and all 2014 volumes associated with the
(2) Excludes sales volumes associated with the Pinedale/Jonah asset divestiture.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.