Anadarko Petroleum said it plans to drill more than 360 new wells in 2014 in Colorado’s Denver-Julesburg Basin, according to Cathy Proctor of the Denver Business Journal.
In 2013, Texas-based Anadarko drilled 335 wells with 13 rigs in Colorado, Proctor said.
The company said Tuesday “it expects to invest between $8.1 billion and $8.5 billion around the world in 2014, with 60 percent of the money going to U.S. operations,” according to the report.
It expects a rise in onshore production by up to 7 percent, to about 625,000 barrels of oil (equivalent) per day.
Anadarko said its Colorado program “generates the strongest returns in Anadarko’s U.S. onshore portfolio.”
In the state, Anadarko has slated for expansion in 2015 a new natural gas processing facility, called the Lancaster plant, capable of handling up to 300 million cubic feet of natural gas per day.
It has “also backed the construction of the Front Range NGL Pipeline, which carries natural gas liquids 435 miles from Weld County to Texas,” Proctor reported.