Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (67359)	5/31/2000 11:11:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Think APC is grooving on these gas prices? From Frost Securities this morning: Anadarko Petroleum (NYSE: APC; Not Rated; Price: $50-7/16) continues to increase the number of rigs drilling wells on its Bossier Sand Play, located between Dallas and Houston, according to Platt?s Electronic Oilgram. The company has increased the number of rigs from 21 a month ago to 24 rigs currently operating in the play. Anadarko has more than 100,000 acres in the play, 25,000 of which were added during first quarter 2000. The company has drilled a total of 150 wells in the play with only one dry hole since beginning operations there four years ago. The most recent well, the Blair A-3, which the company announced on May 2 nd , began production at a rate of 51.5 MMcfepd with 4,500 psi flowing tubing pressure. Annual production from the Bossier play has increased from 2 Bcf in 1997 to an anticipated 60 Bcf in 2000 and 90 Bcf in 2001. If production does increase as expected, the Bossier play will supercede the Hugoton field as the company?s biggest gas producer by the end of the year.