Anadarko updates production outlook
Anadarko Petroleum said nearly all of its operated deep-water Gulf of Mexico platforms and Gulf Coast properties are operational, including Independence Hub, which quickly restored production to pre-storm levels of about 900 million cubic feet of natural gas per day following Hurricane Ike.
The company said that all their deep-water facilities will be operational by the end of the week.
While all of Anadarko’s operated facilities will be capable of producing by week’s end, the timely repairs to third-party downstream infrastructure could significantly affect fourth-quarter sales volumes, as some production remains shut in or curtailed.
Given the uncertainty surrounding the timing of these infrastructure repairs that will enable the company to resume full production, Anadarko expects its fourth-quarter sales volumes to be in the range of 49 million to 55 million barrels of oil equivalent.
The company will provide additional details regarding its fourth-quarter expectations during its third-quarter earnings conference call on 4 November.