Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.
A federal appeals court has upheld a judge’s approval of a multibillion-dollar settlement between BP PLC and lawyers for Gulf Coast businesses and residents who claim the company’s 2010 Gulf of Mexico oil spill cost them money.
Marking a significant step toward eventual oil drilling off the East Coast, the Interior Department is set to soon publish a final assessment of the environmental effects of a new generation of seismic research in U.S. Atlantic waters in February.
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