Anadarko Petroleum has set a 2010 capital pending plan of $5.3 billion to $5.6 billion, and expects an average annual production growth rate of 7% to 9% during the next four years.
Production growth will be driven by development of the company’s shale gas holdings in the onshore US and several oil-weighted, deepwater [...]
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The same technology that unleashed a natural gas bonanza in North America over the past decade has the potential to transform the European energy industry. Anadarko Petroleum has agreed a $1.4bn deal with Mitsui & Co. the Japanese trading and investment group, to sell a minority stake in its Marcellus Shale natural gas project in Pennsylvania. According to a recent report by Natural Gas Intelligence, U.S. natural gas available for production “has jumped 58% in the past four years, driven by improved drilling techniques and the discovery of huge shale fields in Texas, Louisiana, Arkansas and Pennsylvania, according to a report issued Thursday by the nonprofit Potential Gas Committee (PGC).” A blog post called, “Drill Bits: Rig Count Picks Up Again. Why?” on the Wall Street Journal website by Ben Casselman speculates on why the number of active rigs is up for the third week in a row. |
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