Anadarko finds oil in pre-salt appraisal well

Monday, November 23, 2009

Houston-based oil company Anadarko (NYSE: APC) said it found high quality oil during appraisal well tests at its Wahoo-2 offshore well in Brazil's Campos basin.

In a statement, the company said it found more than 90f (27.4m) of high quality net oil pay in the same pre-salt interval as the original Wahoo discovery.

Anadarko started drilling at Wahoo-2 at the end of second quarter.

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"We believe the results to date increase the potential resources in the prospect area, and from what we've seen so far, Wahoo has the characteristics necessary to potentially become our next mega project," Anadarko said in the statement.

The Wahoo-1 and Wahoo-2 wells are located in the prolific offshore pre-salt cluster on the Campos basin's BM-C-30 block.

Anadarko, through a wholly owned subsidiary, operates the BM-C-30 block with a 30% stake. The company also holds minority interests in blocks BM-ES-24 (30%) and BM-ES-25 (40%).