How Anadarko's $2B Gulf of Mexico deal will benefit Colorado

DENVER BUSINESS JOURNAL - Anadarko Petroleum Corp.’s $2 billion deal to buy deepwater Gulf of Mexico assets will mean more money for operations in Colorado’s Denver-Julesburg Basin, the company said Monday.

Anadarko is one of Colorado’s biggest oil and gas companies, with about 1,100 employees working in the state.

Anadarko (NYSE: APC), based in The Woodlands, a suburb of Houston, said Monday it’s reached a definitive agreement, effective Aug. 1, to buy assets in the Gulf of Mexico from Phoenix-based Freeport McMoRan (NYSE: FCX). The deal is expected to close before the end of the year, Anadarko said in an announcement.

The deal will double Anadarko’s interest in the Lucius facility in the deep water part of the Gulf to 49 percent from its previous level of 23.8-percent.

Read more at the Denver Business Journal: http://bit.ly/2cCZV4P

Copyright 2016 Denver Business Journal


JOIN THE CONVERSATION

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

Leave a Comment