Anadarko Petroleum's Eagle Ford assets will be developed with fewer rigs in 2013. Anadarko is dropping its average rig count from 10 to 8 after the company was able to drop its spud to rig release time by 26% in 2012. The average spud to rig release averaged 9.2 days during the quarter and a record 5.4 days was set.Anadarko hit another record as well when operated production surpassed 125,000 boe/d (54,400 net) at one point during the quarter. Production averaged 39,100 boe/d net during the quarter, which represents 71% growth over fourth quarter 2011 volumes.
The company continued its midstream expansion during the quarter as it extended an oil gathering line from Gardendale to Cotulla, as well as expanding gathering capacity to 350 mmcfd. On the processing side, the Brasada Plant, in La Salle County, is on pace to come online in the second quarter of 2013. The plant will be able to process 200 mmcfd and recover as much as 30,000 b/d of NGLs.