Anadarko Reports Another Deepwater Discovery

Anadarko Petroleum Corporation announced an oil discovery at its Mission Deep prospect on Green Canyon block 955. The discovery well encountered more than 250 feet of net oil pay in the primary middle Miocene objective.

The well, in 7,300 feet of water, was drilled to a total depth of approximately 25,000 feet. Future plans include deepening the well to a secondary lower Tertiary objective and drilling a sidetrack well to further delineate the extent of the reservoir.

"Mission Deep is our ninth discovery out of 12 tests so far this year in the deepwater Gulf of Mexico, following up on last year's deepwater exploration program in which we were successful on five of nine," said Bob Daniels, Anadarko's senior vice president of worldwide exploration.

"Anadarko is one of the top three leaseholders in the deepwater Gulf, with an inventory of about 150 prospects and leads, representing an estimated 13 billion to 18 billion barrels of gross un-risked resource potential," Daniels said. "Anadarko plans to drill 10 to 15 exploration tests over the next two years to evaluate this potential within our focused position in the Miocene and emerging lower Tertiary plays."

Anadarko has a 50 percent working interest in Mission Deep and serves as operator. Devon Energy Corporation also has a 50 percent working interest.

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