Anadarko loses $415 million after explosion

The biggest oil and gas producer in Colorado says they lost more than 400 million dollars.And a big part of that is because of a deadly house explosion in Firestone.

KUSA - Executives at Colorado’s biggest oil and gas producer say the company lost $415 million dollars over the last three months.

They also expect more oversight from the state in the future.

Anadarko Petroleum’s financial filings say the loss is, “in large part,” due to a deadly home explosion in Firestone.

Investigators say an uncapped, severed gas line connected to an Anadarko well leaked methane into Mark and Erin Martinez’s home for months.

The built-up gas eventually exploded, killing Mark Martinez, his brother-in-law Joey Irwin, and severely injured Erin Martinez.

Anadarko closed thousands of wells while they investigated what happened in Firestone.

The state then ordered oil and gas operators to map out oil and gas wells, operations and other infrastructure around the state, as well as stress-test any infrastructure within 1,000 feet of a building.

Anadarko says they’ve mapped out more than 53,000 oil and gas lines.

ANADARKO PETROLEUM CORPORATION STOCK: http://bit.ly/2uWdtjD

The company says it’s tested more than 4,000 lines close to buildings, 99.6 percent of which, the company says passed.

The rest will be repaired in the coming days and weeks.

A second leaking line was found in the same neighborhood as the house explosion.

Anadarko says vents in the neighborhood have been largely successful in dropping methane levels in the ground back to normal.

They plan to keep an eye on the measurements until early fall at least.

During a conference call Tuesday, Anadarko’s CEO also told investors he expects Governor John Hickenlooper could push more legislation or regulations making mapping and testing of oil and gas facilities more standard.

© 2017 KUSA-TV


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment