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Colorado flooding delays Anadarko’s capacity expansion at Wattenberg

HOUSTON -- Anadarko Petroleum Corporation has released an update on its activity in the Greater Wattenberg area of northeastern Colorado following last month’s flooding.

Anadarko operates more than 5,800 wells, 2,500 storage tank facilities and 3,200 mi of pipeline in the Greater Wattenberg area. In preparation for and during the flooding, the company shut in approximately 675 operated vertical wells. The vast majority of Anadarko' s locations remained intact and there were no environmental impacts associated with its drilling or hydraulic fracturing activities.

Due to the damaged roads, bridges, rail and other issues that impact the ability to move heavy equipment such as rigs and compression units, the company is experiencing disruptions to its drilling, completions and construction activities in the area, which will result in delays to its expansion of capacity in the field.

These delays are expected to reduce the company' s total estimated full-year sales volumes by approximately 2.5 million boe. Nonetheless, the company anticipates its total annual sales volumes to still be within the previously provided guidance range of 281 to 287 million boe.

To aid in the continuing recovery of affected families in the region, Anadarko contributed $500,000 to various agencies including The Community Foundation serving Weld County, The American Red Cross - Colorado Flood Victims Relief Fund, United Way Foothills Relief Fund and United Way Larimer County Relief Fund.

"Through the devastation, it' s amazing to see the selfless actions of so many to help in the recovery. We are proud of the hundreds of our employees, contractors and others in our industry, many of whom were personally affected, assisting their neighbors and contributing to the broader humanitarian response and clean-up efforts in the affected communities," said Al Walker, Anadarko Chairman, President and CEO

"The Wattenberg Horizontal program is one of our most important areas of operation. As conditions improve, we expect to safely accelerate activity in the field to enable its tremendous production growth to continue. This includes plans to drill 350 to 400 new horizontal wells in 2014, as well as to complete infrastructure expansions throughout the field," added Walker.

10/03/2013

 

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