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Anadarko to Fuel Delaware / DJ Basin Ops with Cash Flow from GOM Deal
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On the heels of its newly-announced $2.0 billion acquisition of Freeport-McMoRan's GOM assets, Anadarko plans to use the related cash flow of the assets to fund accelerated Delaware and DJ Basin operations.
The added 80,000 BOEPD in production from the GOM acquisition will add ~$1.2 billion per year to Anadarko's cash flow. The company is funding the deal by tapping the equity markets.
For 2016, Anadarko has budgeted a total of $1.0 billion for DJ / Delaware Basin operations ($500 million each)
Plans: Delaware Basin: Add two rigs (for a total of six) by year-end 2016 (up from four rigs at the beginning of 2016) DJ Basin: Add two rigs (for a total of three) by year-end 2016 (up from one rig at the beginning of 2016) Delaware BasinAnadarko's goals:
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