APC
#This is <UNK>.
I'll address the discussion on Heidelberg, and then let <UNK> talk about the expiration in Cote d'Ivoire.
Heidelberg, the timing on the wells is really due to the drilling and the completion plans that we have set.
I wouldn't say that having three wells, and a partial well completion would be our mantra going forward, it's simply the timing.
Our project team has made incredible progress here in the last I would say six months.
The Gulf of Mexico has had difficult loop currents, and they were successful in placing the hole in the top sides.
And the commissioning work ongoing for the top sides is in process.
And as they have advanced that ahead of schedule, we've pulled the start date up a few months early.
So it's just a timing issue on when the wells will be completed and then brought online across the facility.
<UNK>, on Paon, we'll announce the results of whenever quarter it's done.
We probably won't even start that process until early in the new year, maybe very, very late December.
So whether we get it done in the first quarter or the second quarter, we'll be releasing it once we have that information.
Thanks, <UNK>.
Yes.
You did reference the comment correctly.
And we do see ourselves being cash-neutral to our CapEx as we go into next year on our preliminary thoughts.
Now we've not taken a plan yet to our Board for approval.
So these are very early ideas on our part.
And you can anticipate, given that we haven't run a dry rig or a rig for dry gas in over two years, that our percentage of oil will continue to increase in our mix.
You've seen that through the course of this year.
And you saw the increase year over year for the quarter of 24,000 barrels per day of greater oil.
I think you should anticipate oil will continue to be a bigger percentage of our overall mix in 2016, even if the capital on a year-over-year basis is likely down unless commodity prices do something that I don't anticipate.
Yes, I think we'll probably be in a position, as we usually are in early March, with our analyst conference to be able to give you the granularity you're looking for once we have a budget approved by our Board.
Well, the short answer is, <UNK> is really good.
And let me give you the longer version then, <UNK>.
The redesign was probably the biggest thing we did out there.
And so right now, we're working on a rate of penetration there in some of our nonproductive time to continuously improve on what we're doing there on the drilling side.
I think the other part of that equation is early on as we change some of this design, we didn't have it going across all of our rig fleet.
And today, we do.
And so you're seeing the benefit of that across the whole fleet out there.
And so that's a part of that improvement as well.
As far as going forward, I think the opportunity probably rests with both our completions and even some of the facility costs that we have in front of us.
We're working on a central stabilizer system right now, which essentially allows us to put less equipment on some of our well sites today.
So I see that there's going to be a future opportunity to get that DC&E cost down in the Wattenberg.
Okay.
Well, again, this is <UNK>.
Right now, we're not in a development mode.
So we're continuously ---+ you got a couple things going on.
We're holding acreage in some cases where the leases require it, but in other cases, we're still testing.
Again, where there's multiple benches out here, although we generally talk about one bench within the Wolfcamp A.
But there's other benches here to be tested, along with the completion styles we're using.
And so we're varying both the water and sand components here, just to better understand how do you get these EURs up.
And so part of the discussion earlier on the increased EURs, we do think we're better understanding what completions are working out here.
And so again, it's not a hodgepodge.
But we're going across a huge acreage position to better understand what we have.
So that when commodity does turn and we go into development mode, we'll probably start where a large part of our infrastructure is.
But we'll know where some of the better places are.
But as we recognize it right now, really across the entire acreage, we really think most of this is all tier 1.
And so we're pretty excited about all the results we're getting in.
But to another point on the infrastructure side, we continue to build that out.
<UNK>though we've slowed down some of our drilling activities, we have not slowed down our buildout of the infrastructure.
No, I think that is fair.
Once things go into a pad drilling format, if you will, we'll likely start very near the infrastructure that's out there.
So that we ought to be up and running and see the benefits on the production side pretty quickly.
Yes, on the resource range, we're right where we thought.
We always do a probabilistic resource range.
We're still in that range with the results of the well.
We still haven't established to water contact over here, so you still have uncertainties associated with that.
As to FID and whether or not we need additional wells, I think those discussions are ongoing.
But I think we also need to get all the data in and really incorporate that into our thinking as to, okay, what do we have here for sure, what do we now have uncertainties around, and what does that mean for additional activities.
So it's too early to say on whether there needs to be an additional well.
And the FID would come after that ---+ or the predevelopment work leading to an FID is ongoing, but that would come after we've got all the data that we need.
Morning.
<UNK>, we always give a risk to operational profile for our objectives here.
And what we've done for the fourth quarter, we think we've included in our capital guidance the flexibility to add the additional completion crews to start working down the ducts, as indicated in the table in our ops report.
And the volumes reflect status quo.
So it's the ---+ we've covered ourselves both ways.
And I think you'll be pleased with the outcome.
No, <UNK>.
I think you're seeing it correctly.
Well, you're talking about on the volume side in some of our big assets.
Right now, I would say there's upside in looking forward.
Because again, with the EUR improvement, especially in Delaware, that should give us upside going forward.
And these are some of the results we're seeing now.
And so as we continue to do these lookbacks, hopefully we got additional upside to that.
But again, remember, Delaware's relatively new and we're drilling this thing across the field.
So we're pretty encouraged.
So I think there's going to be a lot of little things out there to help us.
So there's probably nothing I can point to specifically.
Thank you.
This is <UNK>.
I would start with Wattenberg.
We were sort of between the Codell and Niobrara, we were 12 to 14 wells per section.
Now our norm is more 16.
But I can tell you we're looking at some tests this coming year from 20 to 30 wells per section.
And we'll see what the results there are.
But we're feeling pretty good that we probably, from a section standpoint, we think there's more to be recovered.
As we continue to get our well costs down, we think there's more opportunity to increase that density.
And so we're feeling pretty good about that we'll end up adding to that as opposed to where we are today.
If you look at Delaware, we're probably on 600-foot spacings, based on what we know today.
But I continue to make the point, this is early.
So the more oil we see in these sections and that we can recover that too may go ---+ may be increased.
And a lot of that's just going to be driven by our drilling and completion costs.
So as we get those costs down economically, we probably can afford to put more in a section if we're seeing those recoveries go up.
So it's a little earlier there.
But Wattenberg, for sure, we're seeing that density go up right now.
We have finalized the plans for next year, but there will be several in the Gulf of Mexico.
We'll probably have wildcats in Colombia and also over in Cote d'Ivoire, and beyond that, we're still working the planning.
Thanks.
Well, this is <UNK>.
Let me just say, we all recognize that this (inaudible) are challenging times, not just for companies, but for investors and for the broader investment community.
And we really appreciate the support we're seeing from investors, and appreciate the support we're seeing from analysts that follow us.
You guys do a great job.
Thank you.
I know it's difficult right now to do your job, it's difficult to do our job.
But I'll just leave you with this.
You can anticipate that our employees will go to work every day working as hard as they can to create as much value as they can, given the market conditions that we're in.
I think what we've achieved so far this year reflects that determination and hard work.
And you have our pledge as employees at Anadarko that we will come to work every day trying to create as much value as we can during a very challenging environment.
So with that, I hope everybody has a good day and a good week and thank you for joining us.
