Anadarko Latest Marcellus Driller to Cut 2015 Budget – Down 33%

Anadarko Petroleum has been an active driller in the Pennsylvania Marcellus Shale over the past couple of years. They’re also a big company with operations in other shale plays and in offshore drilling as well. Yesterday the company announced they are trimming back their 2015 capital budget for drilling by about 1/3–to $5.4 to $5.8 billion. Anadarko is just one of a parade of companies doing the same thing (see Dramatic Budget Cutbacks in Marcellus Budgets for 2015). We have no specific comments or numbers about how Anadarko’s cuts will impact the Marcellus, but Anadarko did say they are reducing onshore rig activity by 40% and deferring 125 onshore well completions. Marcellus is part of onshore, so you do the math. Here’s what we do know about Anadarko’s pull back in 2015…

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