HOUSTON, Oct. 20 /PRNewswire/ -- Anadarko Petroleum Corporation
(NYSE: APC) and its partners today announced a commercial sub-salt discovery
called Hickory, located at Grand Isle 116, approximately 75 miles offshore
Louisiana in 320 feet of water.
The Hickory discovery well (OCS-G 13944 No. 1) encountered approximately
300 feet of hydrocarbon pay in multiple sands. The well was drilled to a
total depth of 21,600 feet. A 7 3/4 inch production liner is currently being
run to the total depth of the well. The partners have contracted the Global
Baltic I jack-up drilling rig to immediately begin drilling a field
delineation well from the same surface location to develop proved reserves and
explore for other pay horizons. Anadarko is conducting initial design work on
a production platform. First production from the Hickory discovery is
expected in the year 2000.
This sub-salt well penetrated a salt section of approximately 8,000 feet,
which Anadarko believes is the thickest section of salt ever drilled in the
Gulf of Mexico. The drilling time to reach total depth at Hickory was
substantially less than industry averages for sub-salt wells, despite multiple
storm evacuations during August and September.
Anadarko (operator) owns a 50-percent working interest in Grand Isle
Blocks 110, 111 and 116 along with partners Shell Oil Company (37.5-percent)
and Ocean Energy (12.5-percent) which contain the Hickory discovery.
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Anadarko believes that its expectations are based on
reasonable assumptions. No assurances, however, can be given that its goals
will be achieved. See Additional Factors Affecting Business in the Management
Discussion and Analysis (MD&A) included in the Company's 1997 Annual Report on
Form 10-K.
For more information, contact:
Analysts and Investors: Media:
A. Paul Taylor, Jr. Carol L. Cox
Phone: 281-874-3471 Phone: 281-873-3855
Steve C. Campbell
Phone: 281-874-3260
For additional information about Anadarko, please visit the Web site at
http://www.anadarko.com on the Internet.
SOURCE Anadarko Petroleum Corporation
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Related links:
http://www.anadarko.com
Company News On-Call:
http://www.prnewswire.com/comp/038950.html or fax,
800-758-5804, ext. 038950
CONTACT:
Analysts and Investors: A. Paul Taylor, Jr.,
281-874-3471, Steve C. Campbell, 281-874-3471, Media: Carol L.
Cox, 281-873-3855, all of Anadarko Petroleum Corporation
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