Anadarko Petroleum Corp is engaged in the exploration and production of oil and natural gas. The Company's three operating segments are: Oil and gas exploration and production, Midstream and Marketing.
Tullow said last week that the process to sell down part of its 47% stake in TEN was progressing well and that bids were expected later this month; Tullow wants to sell a 17%-20% stake, which could fetch ~$600M.
A successful sale would free up Tullow to focus on further projects in Africa, where it has several exploration campaigns under way.
Tullow's other partners in the project include Kosmos Energy (KOS) and Anadarko Petroleum (APC).
Voters in the Denver suburb of Broomfield, Colo., narrowly approve a five-year moratorium on fracking after a recount by county officials; the new results mean that all four Colorado communities with similar measures on the ballot this month voted to reject fracking.
The results in Broomfield, on the edge of the Niobrara Shale, were closely watched because the community is considered less liberal than those which passed anti-fracking measures.
APC is targeting the Eagle Ford and Wattenberg basins and is building up its operations in the Permian-Delaware basin, having completed its first six Wolfcamp wells in west Texas.
APC is moving capital away from the Marcellus Shale to the Texas side of the Wolfcamp play in the Delaware basin, Alembic analyst James Sullivan says, adding that APC’s lack of specificity during the call on its drilling activity for the six wells could be driven by its future plans for more land purchases.
The Permian remains the largest U.S. oil producer, with output averaging ~1.3M bbl/day and rising, but it's also the most expensive U.S. shale formation in which to drill - meaning the boom could become a bust if crude moves near $70/bbl, as some analysts predict.
If oil drops to $80, wells in some parts of the Permian will become money-losers; wells drilled in the Cline Shale and Northern Mississippian Lime layers of the Permian need $96 oil to break even.
Mining and energy companies keep a wary eye on escalating tensions in Mozambique after a former rebel group says it will no longer abide by a peace deal that ended a civil war in the country.
Fears of renewed conflict come as Mozambiquw stands on the brink of becoming one of Africa's major energy producers, with billions of dollars in investment planned by the likes of Eni (E), Anadarko (APC), Rio Tinto (RIO) and Vale (VALE).
South African energy company Sasol (SSL), whose main operations are a natural gas processing facility in southern Mozambique, says it is "deeply concerned" by developments.
Chevron (CVX) was yesterday starting to restore operations to normal at platforms in the northern Gulf of Mexico and returning non-essential workers following the passing of Tropical Storm Karen, which has anyway been weakening.
Anadarko Petroleum (APC) said it expected to follow suit.
Along with other oil companies, Chevron and Anadarko removed the workers from platforms that lay in the storm's path.