Anadarko Petroleum Corp. does not see its future in natural gas, and will increasingly focus on three oil-rich basins — in West Texas, Colorado and the Gulf of Mexico, company executives said on Tuesday.

The Woodlands-based company cut third-quarter losses by almost two-thirds this year, to $830 million from $2.24 billion in the same quarter last year. Al Walker, Anadarko’s chairman and chief executive, said the company made “great strides” to improve well drilling efficiency — and doesn’t see service costs rising this year. “We are increasingly more focused and competitive as a result,” Walker said in the company’s third-quarter conference call on Tuesday morning.

Anadarko executives said they are focused on West Texas’s Delaware Basin, northeast Colorado’s DJ Basin and deepwater drilling in the Gulf of Mexico.

In the Delaware, the company boosted oil sales to 27,000 barrels a day, an increase of almost two-thirds over the third quarter last year and nearly one quarter over the second quarter of this year. Anadarko added two drilling rigs in the third quarter, to eight total in the basin. And executives said the company is still figuring out potential across its 580,000 acres there.

In the DJ, Andarko oil and gas sales rose by 28,000 barrels per day over the third quarter of 2015 to 248,000 barrels per day.

And in the Gulf of Mexico, oil sales volumes grew by 10,000 barrels per day to 65,000 barrels per day, an 18 percent increase over the third quarter of 2015, driven by several new wells. In addition, the purchase of Freeport McMoRan’s deepwater holdings will double Anadarko’s total Gulf of Mexico production after it closes later this year.

The company expected to produce 8 million more barrels of oil and gas this year than it once anticipated, and should sell as much as $4 billion in assets.

Executives also suggested they were shopping acreage in south Texas’s Eagle Ford, and that they’d use the money gained from such a sale to develop more land in the Delaware, DJ and gulf.

Anadarko is moving “moving away” from natural gas and seeking more oil and heavy liquids, executives said. They expect to add a rig in the Delaware, land they said had a “very high” oil cut, soon.

“It’s not in our best interest to pursue natural gas,” Walker said. Gas, now trading just under $3 per million British thermal units, would have to double in price to be worth it, he said. “And I don’t see that happening.”