Just about a month ago, I noted the success of Anadarko's
In this case, StatoilHydro
Kaskida, operated by BP
The Peregrino field, the other half of which StatoilHydro already owned, is a bit different. The oil here is heavier, which presents a unique set of technical challenges. However, I think that StatoilHydro is again pretty well prepared for the challenge, based on its previous work on a Norwegian heavy oil project. The firm needs to have a broad skill set in this time of slim pickings, and it has demonstrated a willingness to do that by jumping into the oil sands last year.
Meanwhile, Anadarko is just as admirably sticking to what it does so well: methodically exploiting North American natural gas plays. With these sale proceeds and a brand-new credit facility to boot, don't be surprised to see Anadarko acquire some serious onshore acreage in 2008.