Anadarko Petroleum (ticker: APC) realized royalty revenues in 2013 of approximately $675 million from oil and natural gas and mineral interests and is on pace to eclipse this total in 2014, the company said in a fact sheet released today.
The 2013 royalty revenues from the Wattenberg horizontal program were approximately $300 million, and Anadarko expects significant growth with more than 2,500 potential horizontal drill sites yet to be developed on the Company’s fee mineral-interest acreage in the Wattenberg field. “Through the technological advances of horizontal drilling, the Wattenberg field is expected to provide continued exceptional growth metrics with an anticipated double-digit compounded annual growth rate (CAGR) through the end of the decade,” the company said in its report.
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