Uploaded by FinancialNewsOnline on Nov 28, 2011
Anadarko Petroleum (NYSE:APC) announced that its major gas finds offshore Mozambique were about double what it originally thought, and that the results of its Barquentine-3 appraisal well showed its fields had recoverable reserves of 15Tcf to over 30Tcf of natural gas.
Anadarko Chairman and CEO Jim Hackett said, "The positive results of each appraisal well that we have drilled and analyzed have continued to increase our estimate of recoverable resources and natural gas in place on our block, and to add to our confidence that this could be one of the most important natural gas fields discovered in the last 10 years, with significant long-term benefits for Mozambique."
Anadarko Petroleum (NYSE:APC) has potential upside of 29.2% based on a current price of $76.59 and an average consensus analyst price target of $98.92.
Anadarko Chairman and CEO Jim Hackett said, "The positive results of each appraisal well that we have drilled and analyzed have continued to increase our estimate of recoverable resources and natural gas in place on our block, and to add to our confidence that this could be one of the most important natural gas fields discovered in the last 10 years, with significant long-term benefits for Mozambique."
Anadarko Petroleum (NYSE:APC) has potential upside of 29.2% based on a current price of $76.59 and an average consensus analyst price target of $98.92.
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