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Anadarko Petroleum discovers oil in deepwater Gulf of Mexico

Posted on: Tue, 03 Feb 2009 06:58:00 EST

Symbols: APC

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Feb 03, 2009 (Datamonitor via COMTEX) --
APC | Quote | Chart | News | PowerRating -- US-based oil and gas exploration and production company Anadarko Petroleum has announced a substantial oil discovery at its Heidelberg prospect in the Green Canyon Block 859 in the deepwater Gulf of Mexico.

The discovery well encountered more than 200ft of net oil pay. Heidelberg is located in approximately 5,000ft of water and has been drilled to a total depth of approximately 28,500ft.

Heidelberg's proximity to Anadarko's wholly owned Constitution spar enhances the company's flexibility to consider a variety of development options after further appraisal, which Anadarko intends to conduct in the second half of 2009.

Anadarko operates the block with a 44.25% working interest. Partners in the discovery include Mariner Energy with 12.5% working interest, Eni with 12.5% working interest, StatoilHydro with 12% working interest, ExxonMobil with 9.375% working interest and Cobalt International Energy with 9.375% working interest.

Once drilling operations are complete at Heidelberg, Anadarko plans to drill the Vito prospect in Mississippi Canyon Block 984, which Anadarko operates with a 20% working interest.

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For full details on Anadarko Petroleum Corp (APC) APC. Anadarko Petroleum Corp (APC) has Short Term PowerRatings at TradingMarkets. Details on Anadarko Petroleum Corp (APC) Short Term PowerRatings is available at This Link.

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