Quarterly / Earnings Reports | First Quarter (1Q) Update | Drilling Program-Rig Count
Anadarko Sees -20% Total Production Drop YOY Despite Record Oil Output
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Anadarko reported its Q1 2018 results.
Highlights:
- Q1 2018 production of 643,000 BOE per day (down -4% from 4Q17 and down nearly -20% YOY)
- Achieved record divestiture-adjusted oil production of 367,000 barrels per day (57% of total)
- Received Mozambique government approval for the Golfinho/Atum Plan of Development for the company's LNG project with Area 1 participants
Operational Highlights
- In the Delaware Basin, the company's oil sales volumes averaged 52,000 barrels per day for the quarter, representing a 70-percent increase over the first quarter of 2017.
- In the DJ Basin of northeast Colorado, Anadarko continued to achieve record sales volumes, averaging more than 260,000 BOE per day, an 8-percent increase over the first quarter of 2017. The company currently operates four drilling rigs in the basin along with three completion crews that feature equipment with noise-reduction technology.
- In the Deepwater Gulf of Mexico, Anadarko achieved record oil sales volumes of 128,000 barrels per day. Volume growth was driven by a new tieback at the Marlin facility and increased production at Horn Mountain, which is producing at its highest rate since 2006.
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