RSS   Newsletter   Contact   Advertise with us

Anadarko Petroleum to sell certain Marcellus assets for $1.24 billion

Staff Writer | December 22, 2016
Anadarko Petroleum will sell certain natural gas assets in the Marcellus shale for about $1.24 billion to a unit of Alta Resources Development.
Anadarko Petroleum
Acquisition   About 195,000 net acres
Anadarko, which bought Gulf of Mexico assets from Freeport McMoRan for $2 billion in September, said Wednesday's sale excluded assets of its master limited partnership, Western Gas Partners.

The Marcellus shale divestiture includes about 195,000 net acres, the company saidy.

Sales volumes from these assets totaled about 470 million cubic feet per day of natural gas equivalents at the end of the third quarter.

The Marcellus shale play, the largest natural gas shale play in the United States by reserves volume, runs through Pennsylvania, West Virginia, New York and Ohio. â–