Anadarko Petroleum Corp. (APC) said its Caesar/Tonga deepwater oil development project in the Gulf of Mexico will begin producing later than expected because testing has found equipment unfit for service.
Anadarko Petroleum Corp. (APC) said its Caesar/Tonga deepwater oil
development project in the
Gulf of Mexico
will
begin producing later than expected because testing has found equipment unfit
for service.
Deepwater drilling has come under closer scrutiny since the deadly April
explosion of BP PLC's (BP, BP.LN) Deepwater Horizon well and the subsequent
environmental disaster in the
Gulf of Mexico
.
Nevertheless, the industry continues to pin expectations of future profits on
such projects.
Anadarko said Monday that testing of a production riser system "preclude
it from being put into service on this project." The company had expected
the project to begin producing in mid-2011. It said the setback won't affect
its ability to meet its current-year sales volume target.
Anadarko operates the development and has a 34% stake. Co-owners include
Statoil ASA (STO, STL.OS), Royal Dutch Shell PLC (RDSA, RDSA.LN) and Chevron
Corp. (CVX).
Anadarko shares closed Friday at $74.18 and were inactive in recent premarket
trading.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01