Point of View: Kerr-McGee focusing on exploration and production

10/24/2005
Kerr-McGee Corp. in Oklahoma City is transitioning into a pure-play exploration and production company, intent on achieving consistent growth in share value. It plans to divest low-growth, high-cost properties in favor of a larger inventory of low-risk development projects and high-potential exploration prospects.Its three-pronged strategy is to accelerate US onshore development activities, with an emphasis on the Wattenberg and Greater Natural Buttes areas, where it has identified projects representing more than 400 million boe of potential resources. It expects to complete projects that will provide more than 60% of its projected production replacement. It also expects to drill 8-12 hig...
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