Anadarko-Led Venture Begins $2B Gulf Drilling Project

Law360, New York (December 15, 2011, 12:55 PM EST) -- A $2 billion deepwater oil and natural gas development project in the Gulf of Mexico led by Anadarko Petroleum Corp. has been greenlighted by the project's joint venture partners, Anadarko announced Wednesday.

The Texas-based oil and gas developer said that it and its joint venture partners sanctioned the development of the Lucius project, an oil and natural gas venture located in the Keathley Canyon area of the Gulf, about 200 miles southeast of Houston.

The development is expected to eventually produce more than 80,000 barrels of...
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