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Anadarko Aims 2016 Capex at Delaware, DJ Basins; Cuts Rigs from 25 to 5
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Anadarko Petroleum Corporation announced its 2016 initial capital expectations and guidance, concurrent with its 2016 Investor Conference Call.
Highlights: Reduces year-over-year capital investments by almost 50 percent(1) Expects higher-margin oil sales volumes to be flat year over year on a divestiture-adjusted basis(2) Doubles Delaware Basin recoverable resource estimate to more than 2 billion barrels of oil equivalent (BOE) Announces plans to monetize up to $3 billion of assets in 2016, with $1.3 billion announced or closed year to dateAl Walker, Anadarko Chairman, President and CEO, said: "In 2016, we will continue our disciplined and focused approach, preserving and building value by leveraging our best-in-class capital allocation, enhancing operational efficiencies and…
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