Anadarko Petroleum Q3 Operations Update

Anadarko Petroleum announced third quarter earnings today (Nov. 1) along with an operations update. In the Eagle Ford, the company grew production to more than 66,000 boe/d, which is almost 50% quarter over quarter growth and up from a just over 25,000 boe/d in the 2010 third quarter. The company operated 11 rigs, with one being a spudder rig. Those 11 rigs commenced drilling 56 wells, while Anadarko brought 37 wells to production.

The Korea National Oil Company (KNOC) owns a 33% in Anadarko's Maverick Basin Eagle Ford assets.  

Anadarko exited the quarter with gross production of 66,000 BOE/d, which   represents growth of 47% over the 2nd quarter exit rate of 45,000 BOE/d. For the quarter, oil sales volumes increased almost 150% compared to the sam period in 2010.

During the quarter, the company spud 56 wells using 10 rigs and one  spudder rig, and achieved first production from 37 wells.

Anadarko initiated delivery to the Copano pipeline during the quarter and now has three main gathering and processing systems available for natural gas delivery.

Read the entire press release at