1. Anadarko gambles $98.5 million on Gulf of Mexico subsalt play
- Author
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Gartner, W. Lynn
- Subjects
Gulf of Mexico -- Natural resources ,Anadarko Petroleum Corp. -- Contracts ,Petroleum industry -- Contracts ,Oil and gas leases -- Contracts ,Business ,Petroleum, energy and mining industries - Abstract
Anadarko Petroleum Corp has increased its oil and gas reserves through the acquisition of 26 Gulf of Mexico oil and gas leases. Anadarko spent $98.5 million on the Lease Sale No. 147 and spent $40 million on the Shoal Block 337 bid. The oil company expects in 1994 to spend $105 million on exploration, $25 million on acquisitions and $142 million on development. Anadarko is expanding its workforce and is upgrading its technology for oil and gas exploration and development., WASHINGTON -- Anadarko Petroleum Corp. now holds the largest subsalt inventory of any company in the Gulf of Mexico, thanks to its aggressive bidding in the most recent lease sale. [...]
- Published
- 1994