Anadarko to sell Texas shale assests for $2.3 billion

Woodlands-based Anadarko, the developer of the giant Mozambique LNG project, said it would sell its Eagleford Shale assets in South Texas for about $2.3 billion to a partnership formed by Sanchez Energy and Blackstone Group.

Anadarko’s CEO Al Walker said the sale would help further accelerate capital investments in the company’s higher-return oil opportunities in the Delaware Basin, the DJ Basin, and the deepwater Gulf of Mexico.

The divestiture includes about 155,000 net acres primarily located in Dimmit and Webb counties. At the end of the fourth quarter of 2016, sales volumes from these properties totaled approximately 45,000 barrels of liquids per day and approximately 131 million cubic feet of natural gas per day.

Anadarko’s sponsored master limited partnership, Western Gas Partners, will continue to own and operate its midstream assets in South Texas and is expected to benefit from drilling commitments made by the buyers in conjunction with this transaction.

The transaction is expected to close in the first quarter of 2017.

Share this article

Follow LNG World News

Posted on January 13, 2017 with tags .

Events>

<< Feb 2020 >>
MTWTFSS
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 1

2nd Central and Eastern European Small Scale LNG Forum

The Forum is for LNG industry leaders, who want to keep up to date with Small-Scale LNG latest trends and many other topics!

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >