Anadarko Stays With Production Guidanceadmin
Independent oil and gas producer Anadarko Petroleum Corp. says it will stick with its production outlook for the year, despite delays in the repair of a natural gas pipeline.
The company still expects to produce 207 million to 212 million barrels of oil equivalent for the year. In 2007, the company reported total sales from retained properties, which excludes sold assets, of 196 million barrels of oil equivalent.
Anadarko Petroleum said the Independence Trail pipeline, which transports natural gas from the company-operated Independence Hub processing platform in the Gulf of Mexico, is now expected to be operational in the first half of June. The pipeline was originally expected to start up in mid-May after a leak shut it down early last month.