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Kerr-McGee is one of the largest U.S.-based independent exploration and production companies. With offshore and onshore exploration and production on six continents, the company has the resources and expertise to take advantage of oil and gas exploration and production opportunities in established areas as well as in industry frontiers such as deep water.
Kerr-McGee's core operating areas are the United States and the United Kingdom sector of the North Sea. The company has producing fields in the Gulf of Mexico, North Sea, South China Sea and onshore United States, Ecuador, Indonesia and Kazakhstan, and conducts exploration activities in selected basins throughout the world.
Kerr-McGee's reserves total approximately 1 billion barrels of oil equivalent, and in 1999, net daily production averaged 196,900 barrels of oil and net daily natural gas sales averaged 580 million cubic feet.
At year-end, Kerr-McGee held an average interest of 55% in approximately 40 million gross acres worldwide. Of these, approximately 17 million acres were in high-potential deepwater (greater than 1,000 feet) trends around the world.
The company's exploration program leverages its success to high-quality projects in high-potential trends. In each of its major areas of activity, the company continues to build its leasehold position, taking meaningful working interests and maximizing its capital investments through partnerships and strategic alliances.
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