Refocused

Colorado Gov. John Hickenlooper is expected to sign a new bill (HB12-1315) that was passed Wednesday by the state Senate to create a renamed and refocused governor’s energy unit. The Colorado Office of Energy Development would emphasize both traditional and renewable energy resources.

Spurred by the success of a refocused strategy unveiled last year, Anadarko Petroleum Corp. last week added $300 million to its 2005 capital budget to build U.S. operations in three major areas: onshore acquisitions and drilling; coalbed methane (CBM) operations in Wyoming; and additional deepwater Gulf of Mexico exploration.

Spurred by the success of a refocused strategy unveiled last year, Anadarko Petroleum Corp. on Wednesday added $300 million to its 2005 capital budget to build up its U.S. operations in three major areas: onshore acquisitions and drilling; coalbed methane (CBM) operations in Wyoming; and additional deepwater Gulf of Mexico exploration.

Anadarko Petroleum Corp. on Wednesday unveiled a “refocused” corporate strategy that will raise $2.5 billion by selling 15% of the company’s year-end 2003 proved reserves and 25% of current oil and gas production — nearly all located in North America. The goal is to deliver higher returns and sustainable 5-9% annual production growth.

Anadarko Petroleum Corp. on Wednesday unveiled a “refocused” corporate strategy that will raise $2.5 billion by selling 15% of the company’s year-end 2003 proved reserves and 25% of current oil and gas production — nearly all located in North America. The goal is to deliver higher returns and sustainable 5-9% annual production growth.