Anadarko (APC) Reports Successful Appraisal at Barquentine-3 Well Offshore Mozambique
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Anadarko Petroleum Corporation (NYSE: APC) reports successful Barquentine-3 appraisal well encountered more than 662 net feet (202 meters) of natural gas pay in two high-quality Oligocene-aged fan systems, significantly expanding the estimated recoverable resource range to 15 to 30+ trillion cubic feet (Tcf) of natural gas, with an estimated 30 to 50+ Tcf of natural gas in place. Barquentine-3 marks the sixth successful penetration in the complex that includes the Windjammer, Lagosta, Barquentine and Camareo discoveries.
Anadarko is in the process of mobilizing the Deepwater Millennium drillship to accelerate its activity in the Offshore Area 1. The company also recently signed a four-year contract extension that will keep the Belford Dolphin drillship working in the basin as part of its ongoing program.
The Barquentine-3 appraisal well was drilled to a total depth of approximately 13,400 feet (4,084 meters) in water depths of approximately 5,170 feet (1,575 meters). The well is located approximately 2.75 miles (4.4 kilometers) southeast of the Barquentine discovery well and approximately 1.8 miles (2.9 kilometers) south of the Barquentine-2 appraisal well. The partnership will preserve Barquentine-3 for use as a monitor well during its upcoming testing program. The drillship will next move to top set the Barquentine-4 appraisal well.
Anadarko is the operator of the 2.6-million-acre Offshore Area 1 with a 36.5-percent working interest. Co-owners in the area are Mitsui E&P Mozambique Area 1, Limited (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 Limited (10 percent) and Cove Energy Mozambique Rovuma Offshore, Ltd. (8.5 percent). Empresa Nacional de Hidrocarbonetos, E.P.'s 15-percent interest is carried through the exploration phase.
Anadarko is in the process of mobilizing the Deepwater Millennium drillship to accelerate its activity in the Offshore Area 1. The company also recently signed a four-year contract extension that will keep the Belford Dolphin drillship working in the basin as part of its ongoing program.
The Barquentine-3 appraisal well was drilled to a total depth of approximately 13,400 feet (4,084 meters) in water depths of approximately 5,170 feet (1,575 meters). The well is located approximately 2.75 miles (4.4 kilometers) southeast of the Barquentine discovery well and approximately 1.8 miles (2.9 kilometers) south of the Barquentine-2 appraisal well. The partnership will preserve Barquentine-3 for use as a monitor well during its upcoming testing program. The drillship will next move to top set the Barquentine-4 appraisal well.
Anadarko is the operator of the 2.6-million-acre Offshore Area 1 with a 36.5-percent working interest. Co-owners in the area are Mitsui E&P Mozambique Area 1, Limited (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 Limited (10 percent) and Cove Energy Mozambique Rovuma Offshore, Ltd. (8.5 percent). Empresa Nacional de Hidrocarbonetos, E.P.'s 15-percent interest is carried through the exploration phase.
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