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In the Gulf of Mexico, Chevron Plus Anadarko is More than the Sum of Their Production, an Industrial Info Market Brief
Industry Segment: Market Brief | Word Count: 134 Words
Recently, Chevron Corporation (San Ramon, California) announced a definitive agreement to acquire Anadarko Petroleum Corporation (The Woodlands, Texas). In the Gulf of Mexico, their combined crude oil annual production from all wells is 39.1 million barrels (25.4 million from Anadarko, and 13.7 million from Chevron, respectively). But Chevron and Anadarko also own interest in platforms that service other companies' wells. For instance, KC-875 Lucius performs separation for wells owned by ExxonMobil (Irving, Texas) and LLOG (Covington, Louisiana). Additionally, Chevron has a quarter stake in the GC-468 Stampede. The bottom line is that, after taking owner interest into account, 18.8% of total crude oil production for the entire Gulf of Mexico Region passes through a platform owned either by Anadarko or Chevron. And production in the Gulf of Mexico recently has been increasing.
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