Click here for PDF version
HOUSTON--
(BUSINESS WIRE)--Oct. 15, 2009--
Anadarko Petroleum
Corporation (NYSE:APC) today announced another
successful appraisal well in the West Cape Three Points Block offshore
Ghana. The Mahogany-4
well, which is the eastern-most appraisal of the
Jubilee field, encountered more than 140 net feet of predominately oil
pay in high-quality, stacked reservoir sands. The well is located
approximately 5 miles east of the original Mahogany-1 discovery well and
about 2.5 miles northeast of the Mahogany-3 appraisal and Mahogany Deep
discovery well.
"The encouraging results of the Mahogany-4 appraisal well build upon our
successful delineation program that continues to extend the potentially
productive area of the Jubilee field beyond the existing unit
boundaries," said Bob Daniels, Anadarko Sr. Vice
President, Worldwide
Exploration. "The well intersected the main Jubilee reservoir and also
encountered new deeper oil sands that the partnership plans to evaluate
through future exploration and drilling activity."
Reservoir fluid samples recovered from the well indicate an oil gravity
of approximately 35 degrees API. The well was drilled to a total depth
of about 12,000 feet in approximately 3,540 feet of water by the "Atwood
Hunter" semi-submersible drilling rig. Once the rig completes operations
at Mahogany-4, it will move to drill a development well in the Jubilee
field, followed by appraisal wells to delineate the nearby Odum and
Tweneboa discoveries. The partnership also recently spud the Mahogany
Deep-2 well in the West Cape Three Points Block. This well is an
appraisal of the Mahogany Deep discovery announced earlier in 2009, as
well as a test of the Jubilee field's southern extent.
Anadarko holds a 30.875-percent interest in the West Cape Three Points
Block. Kosmos Energy is the block operator and also holds a
30.875-percent interest. Other partners include Tullow (22.896 percent),
Sabre (1.854 percent), The E.O. Group, a Ghanaian oil and gas
company,
(3.5 percent) and the Ghana National Petroleum Corporation (10-
percent
carried interest).
In Cote d'Ivoire, the company announced that the South Grand Lahou
exploration well in block CI-105 offshore Cote d'Ivoire reached the
targeted objective and found it to be water-bearing. The well was
drilled to a total depth of approximately 14,900 feet in about 6,100
feet of water.
"To date, we have enjoyed tremendous success in our West African
Cretaceous program," said Daniels. "The South Grand Lahou exploration
well, which was drilled in less than 20 days, did not encounter
hydrocarbons, but it does provide us with an important calibration point
within the trend. We plan to incorporate the data into our models as we
evaluate our 2010 program that will continue to mature the more than 30
additional identified prospects and leads in the trend."
Anadarko operates South Grand Lahou with a 50-percent working interest.
Co-owners in the block include Tullow (22.3-percent working interest),
Petroci Holding (15-percent working interest) and Thani (12.6-
percent
working interest).
The company now needs to mobilize the Belford Dolphin drillship to
Mozambique to begin
its drilling program obligation with the Windjammer
prospect. Anadarko holds a 42-percent working interest and is the
operator. Windjammer will be the first deepwater exploration well to be
drilled offshore Mozambique.
A map of the Mahogany-4 well and Anadarko's West Africa acreage position
will be available under the "Media Center/Anadarko News" tab at www.anadarko.com.
Anadarko Petroleum Corporation's mission is to deliver a competitive and
sustainable rate of return to shareholders by exploring for, acquiring
and developing oil and natural gas resources vital to the world's health
and welfare. As of year-end 2008, the company had approximately 2.3
billion barrels-equivalent of proved reserves, making it one of the
world's largest independent exploration and production companies. For
more information about Anadarko, please visit www.anadarko.com.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Anadarko believes that its
expectations are based on reasonable assumptions. No assurance, however,
can be given that such expectations will prove to have been correct. A
number of factors could cause actual results to differ materially from
the projections, anticipated results or other expectations expressed in
this news release, including Anadarko's ability to successfully drill,
complete, test and produce the wells and prospects identified in
this news release. See "Risk Factors" in the company's 2008
Annual Report on Form 10-K and other public filings and press releases.
Anadarko undertakes no obligation to publicly update or revise any
forward-looking statements.
Source: Anadarko Petroleum
Corporation
Anadarko Petroleum Corporation
Media:
John Christiansen, john.christiansen@anadarko.com, 832-636-8736
Matt Carmichael, matt.carmichael@anadarko.com, 832-636-2845
Investors:
John Colglazier, john.colglazier@anadarko.com, 832-636-2306
Chris Campbell, CFA, chris.campbell@anadarko.com, 832-636-8434
Dean Hennings, dean.hennings@anadarko.com, 832-636-2462