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Wednesday, September 16, 2009
Report: Anadarko Announces Oil Discovery
FOXBusiness
Houston-based oil and gas company Anadarko Petroleum (APC) announced an off-shore oil discovery just near the coast of Sierra Leone where it operates its Venus well, according to reports.
Analysts say the find bodes the possibility of future discoveries in the area, according to a report in the Wall Street Journal.
Anadarko is the largest stakeholder in the Venus well with a 40%. Other operators of the well include Australia-based Woodside Petroleum, and Spanish Repsol YPF SA, which both hold a 25% stake. London-based Tullow Oil PLC holds the remaining 10% stake in the well, the paper said.
Shares of Anadarko closed at $64.85, up $5.68 or 9.60% after Wednesday's trading.
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