Anadarko Provides East Africa Exploration Update Discovers New Natural Gas Field Offshore Mozambique; Encounters Oil Shows Offshore Kenya HOUSTON, TX -- (Marketwired) -- 04/18/13 -- Anadarko Petroleum Corporation (NYSE: APC) today announced the discovery of a new natural gas accumulation fully contained within the Offshore Area 1 of the Rovuma Basin of Mozambique. The Orca-1 discovery well encountered approximately 190 net feet (58 meters) of natural gas pay in a Paleocene fan system. "Discovering another large, distinct and separate natural gas accumulation in the Offshore Area 1 continues our outstanding exploration success offshore Mozambique," said Sr. Vice President, Worldwide Exploration Bob Daniels. "We are designing an initial two-well appraisal program to define the areal extent of the Orca field, which will commence immediately after drilling our Linguado and Espadarte exploration wells. Orca is a single large Paleocene column, and its proximity to shore provides additional options and flexibility for potential future development." The Orca-1 exploration well was drilled to a total depth of approximately 16,391 feet (4,996 meters), in water depths of approximately 3,481 feet (1,061 meters). Anadarko is the operator in the Offshore Area 1 with a 36.5-percent working interest. Co-owners include Mitsui E&P Mozambique Area 1, Limited (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 Limited (10 percent) and PTT Exploration & Production Plc (8.5 percent). Empresa Nacional de Hidrocarbonetos, ep's 15-percent interest is carried through the exploration phase. Anadarko also completed drilling its Kubwa well in the L-07 Block offshore Kenya, which encountered non-commercial oil shows in reservoir-quality sands. "We are very encouraged with our first test of Kenya's previously unexplored deepwater basin, in which mudlog and well-site evaluation of core data indicates the presence of a working petroleum system with reservoir-quality sands," Daniels said. "The Kubwa well tested multiple play concepts and provided useful data regarding the prospectivity of our six-million-acre position offshore Kenya. The rig will now mobilize south to drill the Kiboko well." Anadarko operates the L-07 Block with a 50-percent working int erest. Co-venturers in the L-07 Block include Total E&P Kenya B.V. (40 percent) and PTT Exploration & Production Plc (10 percent). A map of Anadarko's position in Mozambique's Offshore Area 1 will be available under the "Media Center/Anadarko News" tab at www.anadarko.com. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2012, the company had approximately 2.56 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko and APC Flash Feed updates, please visit www.anadarko.com. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko's ability to drill, develop and commercially operate the drilling prospects identified in this news release. See "Risk Factors" in the company's 2012 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements. Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2287201 Anadarko Contacts Media: John Christiansen firstname.lastname@example.org 832.636.8736 Brian Cain email@example.com 832.636.3404 Christina Ramirez firstname.lastname@example.org 832.636.8687 Investors: John Colglazier email@example.com 832.636.2306 Brian Kuck firstname.lastname@example.org 832.636.1397 Bill Tedesco email@example.com 832.636.3375
Anadarko Provides East Africa Exploration Update
Press spacebar to pause and continue. Press esc to stop.