The goal of the hearings is to examine the design and performance of the drilling rig's blowout preventer, a mammoth set of valves that is the last line of defense against an oil spill.
In the fourth quarter of 2012 exploration behemoth Anadarko (APC) reported a 40% drop in drilling and completion time along with a 14% reduction in drilling costs in its Marcellus shale performance.
For this quarter, we expect to see a marginally better performance from the firm, thanks to an increase in offshore drilling in the U.S. Gulf of Mexico and new contracts and price revisions in the international space.