Anadarko in $4 bln midstream assets sale to Western Gas Partners

Anadarko in $4 bln midstream assets sale to Western Gas Partners
Image courtesy of Anadarko

Woodlands-based Anadarko has agreed to sell its remaining midstream assets to Western Gas Partners for over $4 billion. 

Under the agreement, Anadarko is set to receive a $2 billion cash payment with the balance to be paid in new Western Gas equity.

Western gas Partners is currently completing its merger with Western Gas Equity Partners, which will result in a simplified midstream structure.

The sale is expected to close in the first quarter of 2019, concurrently with the closing of the merger, Anadarko said.

With the equity portion of the payment, Anadarko will maintain operating control of the limited partnership with approximately 55.5 percent ownership.

Under the terms of the asset sale transaction, WES will acquire substantially all of Anadarko’s remaining midstream assets, which are largely associated with Anadarko’s two U.S. onshore oil plays in the Delaware and DJ Basins.

The acquired assets include the Bone Spring gas plant (50 percent non-operated interest), and the MiVida gas plant (50 percent non-operated interest) in the Delaware Basin of West Texas.

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >