text: Anadarko, Noble Swap Wattenberg Field Acreage - Natural Gas Intelligence
  Based on current production levels, the exchange is expected to lift Anadarko's production by 8,000 boe/d, almost all of which will come from the new wells at the heart of the $202 million reimbursement. Consequently, Noble's production rate is to decline by 8,000 boe/d.
  "This short-term reduction in production is anticipated to be quickly offset with operational efficiencies and cost savings," Noble said Monday. "For 2014, the company's DJ [Denver-Julesburg] Basin volumes are still expected to grow at a rate of at least 20%."
  "This Wattenberg trade unlocks significant additional value for both Anadarko and Noble Energy by consolidating operated acreage positions, which enables more efficient development planning and infrastructure utilization," said Chuck Meloy, Anadarko's vice president for U.S. onshore exploration and production. "The trade is expected to achieve greater operating efficiencies, reduce costs and local impacts, and further improve safety performance."
  Noble COO David Stover concurred. "This strategic transaction will create numerous synergies for both Noble Energy and Anadarko, and allows us to maximize the value of this premier oil asset, as acreage is consolidated in key operating areas," he said.
  "As we move forward with our integrated development plans within the DJ Basin, we expect to realize significant efficiency improvements including centralized field facilities, streamlined operations and reduced land work. The large contiguous acreage blocks will provide the opportunity to optimize drilling activities and add more extended-reach lateral wells to the program."