Anadarko, Exxon Target 2014 For Lucius Start

Printer Friendly Version

Anadarko Petroleum, the second-largest U.S. independent oil and natural gas producer, and Exxon Mobil, the largest U.S. oil company, expect the first production from the Lucius discovery in the Gulf of Mexico to come by 2014. Lucius is located near Exxon's (XOM) Hadrian complex in Keathley Canyon.

Anadarko (APC) estimated resources at Lucius of 300 million barrels with a development cost of $2 billion, Platts reported. Anadarko will hold a 35% operating interest in both the Hadrian and Lucius fields.

Apache (APA), the largest U.S. independent oil and gas producer, Brazil's Petrobras (PBR) and Italy's Eni SpA (E) are also among the Lucius stakeholders.

Anadarko's vice president of worldwide exploration, Bob Daniels, Anadarko expects to have permits and be drilling at a total of five more deepwater targets this year and six to eight more in 2012, Platts reported.