Anadarko Sees 2014 Capex Up to USD 8.5 Billion

Anadarko Sees 2014 Capex Up to USD 8.5 Billion

Anadarko Petroleum said its capital investments in 2014 are expected to be between $8.1 billion and $8.5 billion, excluding investments associated with its unit Western Gas Partners.

Anadarko is uniquely positioned to build upon our multi-year track record of success and to deliver sustained growth and unmatched optionality in 2014 and beyond,” said Anadarko Chairman, President and CEO Al Walker.Our 2014 capital program is again a prudent and disciplined approach that is within anticipated cash flow. We expect this capital plan to enable us to increase year-over-year ‘same-store’ sales volumes by 6 to 7 percent. Driving this year-over-year growth is an expected increase in our oil production of approximately 40,000 barrels per day.”

“During 2014, Anadarko expects to drill up to 25 high-potential deepwater exploration/ appraisal wells. Additionally, we plan to continue accelerating value through active portfolio management and monetizations, as demonstrated by the recently announced divestiture of our non-operated assets in Bohai Bay, China, and the closing of our sale of a 10-percent working interest in Mozambique’s Offshore Area 1 to OVL,” he added.

LNG World News Staff, March 4, 2014; Image: Anadarko





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