Anadarko Petroleum Corp. increased its oil sales volumes by 14% year over year on a divestiture-adjusted basis, executives said during a third-quarter earnings call.
They also discussed efficiency improvements in Wattenburg over the last 2 years. During the third quarter, drilling cycle times were reduced by about 20% with a corresponding 15% reduction in drilling costs per foot vs. second-quarter costs.
Earlier this year, Anadarko said it could drill a new Wattenberg horizontal well for $1 million per well.
During the second quarter, Anadarko achieved startup of its 300 MMcfd Lancaster II cryogenic expansion, providing additional growth capacity for Wattenberg where Anadarko holds some 350,000 net acres.