Playbooks Supplements

Unconventional Yearbook 2018

Issue link: http://yearbook.epmag.com/i/915048

Contents of this Issue

Navigation

Page 8 of 107

UGcenter.com | January 2018 | 7 KEY PLAYERS | 2018 UNCONVENTIONAL YEARBOOK T he U.S. Energy Information Administration (EIA) estimated that about 4.25 MMbbl/d of crude oil were produced directly from tight oil resources in the U.S. in 2016, equal to about 48% of total U.S. crude oil production in 2016. According to a July 2017 Wood Mackenzie report, "The tight oil sector has struggled to generate positive cash flow since 2010—last year, only one company in the sector posted positive cash flow. But there is light at the end of the tunnel." The report estimates that the five larg- est tight oil players—Continental, Devon, EOG, Newfield and Pioneer—could become cash-flow positive by 2020. In the following section, Hart Energy profiles 40 of the most active companies in the U.S. Anadarko Petroleum Corp. ■ About 580,000 gross acres in the Delaware Basin ■ About 400,000 net acres in the D-J Basin Headquartered in The Woodlands, Texas, Anadarko has onshore U.S. operations in Colorado, Texas, Utah and Wyoming. The company is among the world's largest independent oil and natural gas E&P companies, with 1.72 Bboe of proved reserves at year-end 2016, the company stated on its website. Since 2015 Anadarko has sold nearly $7.5 bil- lion of noncore assets "to reposition and focus its business to deliver better returns across commodity cycles," an October 2017 press release stated. "Anadarko ended the third quarter of 2017 with $5.25 billion of cash on hand. This substantial cash balance enables flexibility in managing through the lower commodity price environment," the company said. In the Delaware Basin Anadarko has about 580,000 gross acres (about 235,000 net) and 10,000- plus drilling locations, according to the company's 2016 "Texas Fact Sheet." Anadarko averaged 16 operated rigs drilling during third-quarter 2017, and the company reported Companies Focus on Strong Profits, Driving Down Costs These players see a bright future. By Ariana Benavidez, Associate Managing Editor In the Delaware Basin Anadarko has about 580,000 gross acres (about 235,000 net) and 10,000- plus drilling locations. (Photo courtesy of Anadarko Petroleum Corp.)

Articles in this issue

Links on this page

Archives of this issue

view archives of Playbooks Supplements - Unconventional Yearbook 2018