Anadarko Announces Lucius Oil Discovery

Anadarko Petroleum Corp. (APC) said Thursday that it discovered oil at the Lucius prospect in the deepwater Gulf of Mexico.

The company encountered 200 feet of net pay in subsalt Pliocene and Miocene sands, according to a press release.

"The Lucius discovery continues to demonstrate the tremendous value of our Gulf of Mexico portfolio," said Bob Daniels, Anadarko Senior Vice President, Worldwide Exploration, in a statement.

The Houston-based independent oil and gas company will "immediately" drill up an additional appraisal well to better gauge the reservoir's extent, said Daniels. Lucius is not far from the company's Red Hawk spar, increasing the possibilities of developing it quickly, he said.

Anadarko operates and owns 50% of the Lucius well. Partners include Plains Exploration and Production Co. (PXP) and Mariner Energy Inc. (ME).

-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214; angel.gonzalez@dowjones.com

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