Anadarko eyes onshore cash splash

Onshore focus: Anadarko, led by Jim Hackett, will devote 55% of 2012 spending to onshore

Independent giant Anadarko Petroleum plans to spend between $6.6 billion and $6.9 billion on projects this year with a majority of that devoted to its onshore US projects.

About 55% of Anadarko’s spending this year will go toward the US onshore sector, with another 25% set aside for international projects.

The company, which also announced the start of production at the Caesar-Tonga development in the Gulf of Mexico on Monday, said 10% of its capital budget would be devoted to the US Gulf.

Anadarko, like most other major producers in the US faced with decade-low natural gas prices, will focus most of its onshore spending – about 90% – on liquids-rich plays such as the Wattenberg field, Eagle Ford shale, Permian…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index