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Anadarko eyes $8.1B-$8.5B 2014 capex program, 60% toward U.S. onshore

  • Anadarko Petroleum (APC) says planned capital spending will reach $8.1B-$8.5B this year, with ~60% earmarked for drilling more oil wells onshore in North America.
  • APC expects the capital spending plans will enable it to increase sales volume 6%-7% Y/Y, excluding the impacts of divestitures, driven by an expected 40K bbl/day increase in oil production.
  • APC also expects to increase its total U.S. onshore sales volumes by more than 10% to more than 625K boe/day this year, driven by its Wattenberg horizontal drilling program in Colorado, its Eagleford Shale development in south Texas, and other liquids-rich growth plays.
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