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Anadarko fails off Cote D’Ivore

Written by  Karen Boman Tuesday, 25 July 2017 09:38

Anadarko Petroleum failed at two wildcats offshore Cote D’Ivore in West Africa.

Walker. Image from Anadarko.

The first exploration well, Paon-6A, was drilled at Block CI-103 in Q2. Anadarko says that the partners are evaluating the next steps they should take for the project. 

At the Colibri-1X well, the company hit hydrocarbon pay, but in non-commercial quantities. Colibri-1X was spudded in June and recently completed drilling. 

Anadarko is the operator of Paon-6A with 75% interest.

Anadarko is operator of Colibri-1X with 90% stake.

Last month in the deepwater Gulf of Mexico, Anadarko started drilling a second Phobos appraisal well at the Sigsbee Escarpment. The well is testing the downdip extent of the Wilcox-aged oil accumulation on the eastern side of the structure, Anadarko said.

Phobos is approximately 12mi south of the Anadarko-operated Lucius facility, and is being evaluated as a potential tieback.

During Q2, Anadarko also reported the drilling of a second successful appraisal well, Warrior, in the Green Canyon area. The Warrior discovery is about 3mi from the Anadarko-operated K2 field. The company said it expects to tie back the well to the Marco Polo production facility.

In its Q2 report, Anadarko said that it would reduce the midpoint of its expected full-year 2017 capital expenditure (CAPEX) spending by US$300 million, which includes $250 million in upstream spending. The US deepwater player recorded a loss of $415 million during the period.

“The current market conditions require lower capital intensity given the volatility of margins realized in this operating environment,” said Anadarko Chairman, President and CEO Al Walker.

Over the past two years, the company has streamlined its investment to focus on US onshore and the deepwater Gulf of Mexico to increase its production mix towards oil to improve wellhead margins and enhance its capital efficiency in the volatile oil market. 

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