|
|
Article: ETCETERA
- Article from:
- Hart's Petroleum Finance Week
- Article date:
- August 4, 2003
CopyrightCopyright Phillips Business Information, LLC Aug 4, 2003. Provided by ProQuest LLC. (Hide copyright information)
|
Debt Ratings, Analyst Comments & More
Word leaked last week that Anadarko Petroleum Corp. (NYSE: APC) was laying down several U.S. onshore rigs, even as its peers are increasing activity. There was speculation that as many as 35 out of the company's 48 rigs could be released.
A company spokeswoman told Petroleum Finance Week that "some" rigs were being released because the majority of Anadarko's $2.7- billion budget was spent in the first half of the year. Others wondered whether there was more to it. Reuters quoted a report from CIBC World Markets analyst Allen Brooks that speculated the shutdown could be in preparation for a potential sale of Anadarko.
Then, two days ...