Anadarko and Chevron Gear Up for Major Fracking In Ohio
Ohio hasn’t been quite so much in the center of the fracking debate. However, it may begin to be considering that big oil is about to make their mark on the state. Chevron and Anadarko are prepping to do some major drilling in Ohio in the next year. The Trefis Team explains why Ohio and some details about the plan.
Suitable location
Shale deposits in Ohio have drawn significant interest from major industry players owing to the location’s suitability. Ohio, once the home of Standard Oil, has a well-connected network of pipelines and waterways that help transport output to the markets with ease.[1]
Transportation has been a major bottleneck for the shale industry development in the Bakken shale in North Dakota where producers have to rely on the intermittent rail transport. The state of Ohio is expected to produce 200,000 barrels of crude/day by 2020, helping Chevron and other players improve their domestic production.
In addition to strong infrastructure, Ohio also has a favorable geology which allows the waste water generated from hydraulic fracturing to be injected underground. [1] This is a major relief for drillers who do not have this option in plays in Pennsylvania where waste water has to be processed and let into rivers causing problems.
Some explorers have resorted to transporting the waste water to Ohio so that it can be injected into the ground.
It will be interesting to see how Ohio will react to major oil drilling. Their surrounding states have limited drilling actions and some not even allowing it in certain areas. This next year will be very telling for the future of the oil industry in Ohio.
Quotes taken from report by the Trefis Team, Read the entire article here.
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Anadarko Announces Discovery Offshore Ghana
Jul 18, 2012 1:00:00 AM
HOUSTON, TX — (Marketwire) — 07/18/12 — Anadarko Petroleum Corporation (NYSE: APC) today announced the Wawa-1 exploration well, located in the Deepwater Tano Block offshore the Republic of Ghana, discovered approximately 43 net feet (13 meters) of oil pay and 65 net feet (20 meters) of gas-condensate pay in Turonian-aged reservoirs. Samples from the well show the oil is of good quality, between 38 and 44 degrees API, and pressure data indicate the Wawa discovery is a separate and distinct accumulation from the adjacent TEN (Tweneboa, Enyenra and Ntomme) complex.
“The Wawa discovery extends the presence of hydrocarbon-bearing formations more than 6 miles (10 kilometers) to the north of the Enyenra-3A well,” said Anadarko Sr. Vice President, International and Deepwater Exploration, Bob Daniels. “The discovery enhances the value of the TEN complex, which is advancing toward submission of a plan of development. The partnership plans further exploration of the Deepwater Tano Block with additional wells scheduled at our Okure and Sapele prospects later this year.”
The Wawa-1 exploration well is located in approximately 1,926 feet (587 meters) of water. The well was drilled to a total depth of approximately 10,899 feet (3,322 meters). Once operations are complete, the well will be suspended for possible future use in appraisal and development operations.
Anadarko has an 18-percent working interest in the Deepwater Tano Block. Partners in the block include Tullow Oil plc (49.95-percent working interest and operator), Kosmos Energy (18-percent working interest), Sabre Oil & Gas Holdings Ltd (4.05-percent working interest) and the Ghana National Petroleum Corporation (10-percent carried interest).
Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2011, the company had approximately 2.54 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies. For more information about Anadarko and APC Flash Feed updates, please visit http://www.anadarko.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko’s ability to drill, develop and commercially operate the drilling prospects identified in this news release and to successfully submit a plan of development for the TEN complex. See “Risk Factors” in the company’s 2011 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.
Source: Anadarko Petroleum Corporation