Utica Shale drilling update from Anadarko

Source: Anadarko Petroleum Corporation

Anadarko Petroleum Corporation (NYSE: APC) today provided an update on its drilling program in the Utica Shale play in eastern Ohio after filing the required production history with Ohio Department of Natural Resources. To date, the company has drilled and is producing from three wells in the Utica Shale, the most recent of which has delivered more than 9,500 barrels of light-gravity crude oil during its first 20 days on line.

"Though it is very early in our exploration program, the strong initial results are encouraging," said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. "We expect to begin flowing back our fourth Utica exploration well in the next few days and are currently drilling our fifth exploration well in the play. We plan to continue an active drilling program throughout the year, as we evaluate the liquids-rich potential of our 390,000-acre (gross) position in the Utica Shale."

Anadarko's Brookfield A-3H well in Noble County has produced approximately 9,500 barrels of oil and approximately 12 million cubic feet (MMcf) of high-BTU (British thermal units) natural gas during its first 20 days on line. The Spencer A-1H and Spencer A-5H wells, located in Guernsey County, have cumulatively produced a combined 20,000 barrels of light-gravity crude oil and 37 MMcf of liquids-rich natural gas in just under two months on line. All three horizontal wells were drilled to a vertical depth of approximately 6,500 feet and a lateral length of about 5,000 feet with 16- to 19-stage completions.

Anadarko operates the Brookfield and Spencer wells with a 100-percent working interest (82.5-percent net revenue interest) subject to a participation agreement with Artex Energy Group LLC.


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