Anadarko Petroleum Corp. (APC) discovered a new natural-gas field offshore Mozambique and said it has completed drilling a well offshore Kenya.
Anadarko Petroleum Corp. (APC) discovered a new natural-gas field
offshore
Mozambique
and
said it has completed drilling a well offshore
Kenya
.
The energy producer said the Orca-1 discovery well encountered about 190 net
feet of natural gas pay within the Offshore Area 1 of the Rovuma Basin of
Mozambique.
Anadarko is the operator in the Offshore Area 1 with a 36.5% working interest.
Co-owners include Mitsui E&P Mozambique Area 1 Ltd. with 20%; BPRL Ventures
Mozambique B.V. with 10%; Videocon Mozambique Rovuma 1 Ltd. with 10% and PTT
Exploration & Production PLC with 8.5%. Empresa Nacional de
Hidrocarbonetos's 15% interest is carried through the exploration phase.
Anadarko said it also completed drilling its Kubwa well in the L-07 Block
offshore
Kenya
,
which encountered noncommercial oil shows in reservoir-quality sands.
The company operates the L-07 Block with a 50% working interest. Co-venturers
include Total E&P Kenya B.V. with a 40% stake and PTT Exploration &
Production PLC with 10%.
Anadarko's operations in shale fields such as the Eagle Ford in south
Texas
and
the Wattenberg in northeast
Colorado
have
driven higher production in recent quarters. The company has also had a string
of exploration successes off the coast of
Mozambique
.
Shares closed Wednesday at $79.45 and were inactive premarket. The stock has
risen 6.9% since the beginning of the year.
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