Anadarko Apparent Winner on 13 Blocks
Anadarko reports that it was the apparent high bidder on 13 blocks in yesterday's Central Gulf of Mexico Lease Sale 198. The bids represent a total investment of approximately $20 million net to Anadarko.
Anadarko made a successful $34 million bid for Green Canyon (GC) 551 jointly, on a 50/50 basis, with Newfield Exploration. In addition, it individually placed apparent winning bids on another 12 blocks.
GC 551 was one of the most highly sought after blocks in the lease sale, attracting six bids totaling nearly $70 million from a combination of nine companies. The Lyell prospect identified on GC 551 is in close proximity to and targets the same Miocene pay zones found in Anadarko's Knotty Head (25 percent working interest)discovery and the nearby Tahiti and Tonga fields.
In addition to the Lyell prospect, Anadarko picked up a lower tertiary lead called Fog Hat on Walker Ridge 414. The company also gained five wildcat prospects in a newly emerging play on the abyssal plain: the Antares prospect on Atwater Valley (AT) 890, 891 and 892; Sirius on AT 636, 637 and 681; Cygnus on AT 675 and 719; Aldebaran on GC 1009; and Rigel on Lund 47 and 48.
Not including these latest winning bids, Anadarko has access to 265 Gulf of Mexico deepwater blocks and is in the process of bringing several major discoveries online.
- Shale Drillers Show Few Signs of Slowing as Profits Expand (Aug 02)
- $2 Billion Gulfport Buy Shows Drillers Thirsting for Next Play (Dec 15)
- Newfield CEO Sees Cautious Approach on Big Oklahoma Oil Find (Oct 17)
Company: Anadarko Petroleum more info
- No More Free Lunch Is the Big Change Under Way in the Oil Market (Oct 09)
- Anadarko To Spend $2.5B On Massive Share Buyback (Sep 20)
- Harvey Could Become First Hurricane to Strike Texas Since 2008 (Aug 23)