Monday, August 16, 2010

Anadarko Petroleum (APC): Avalon Shale update

By Andrea:

Anadarko Petroleum Corp. (APC) is currently testing Avalon shale to see if the formation is profitable: Robert Daniels, Senior VP states: "On the Avalon, what we've done so far is in the Bone Spring itself. And we have looked at the Avalon which does seem to have some characteristics that would make it attractive to test. And so we do have some plans to go out and test the Avalon shale and see what sort of producibility it may have, what kind of recoveries we would get, what type of hydrocarbon. We do plan to drill two wells in there right now. We have 170,000 acres out in the West Texas area that would be prospective for the Bone Spring and Avalon Shale. So we would be testing it and see what we get out of it."

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