Anadarko Scores Again in Deepwater GOM with Shenandoah

Anadarko Petroleum Corporation announced its second deepwater Gulf of Mexico discovery this week. The Shenandoah discovery well, located in Walker Ridge Block 52, encountered net oil pay approaching 300 feet in the Wilcox formation.

"This has been a remarkable week, with back-to-back deepwater discoveries in the Gulf of Mexico," said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. "Initial data indicates the Shenandoah discovery has reservoir properties that appear to be of much higher quality than industry has seen previously in the emerging Lower-Tertiary play. The success of this well and our recent Heidelberg discovery further confirms the value of Anadarko's extensive acreage position and our capability in exploring proven and emerging deepwater basins worldwide."

Shenandoah is located in approximately 5,750 feet of water and was drilled by the Noble Paul Romano semisub to a total depth of about 30,000 feet. Anadarko and the co-owners of the discovery are evaluating the well results and the next steps toward future appraisal activity. Anadarko operates Shenandoah with a 30% working interest. Co-owners of the discovery include ConocoPhillips (40%), Cobalt International Energy L.P. (20%) and Marathon (10%).

Also in the deepwater Gulf of Mexico, Anadarko expects to spud the Vito Middle-Miocene prospect in Mississippi Canyon Block 984 and the Samurai Middle- and Lower-Miocene exploration well in Green Canyon Block 432 during the first quarter. Anadarko operates these wells with a 20% working interest and a 33.33% working interest, respectively.

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