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Anadarko Sees -20% Total Production Drop YOY Despite Record Oil Output

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   |    Thursday,May 10,2018

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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