Offshore staff
HOUSTON -- Statoil has agreed to pay Anadarko $901 million for interests in two deepwater Gulf of Mexico discoveries and one prospect. The transaction is expected to close in 1Q07.
The agreement includes Anadarko's holdings in the Knotty Head (25%) and Big Foot (15%) oil discoveries, and the Big Foot North (15%) prospect.
"This transaction further advances our efforts to reduce financial leverage following the acquisitions of Kerr-McGee and Western Gas Resources in August," says Jim Hacket, Anadarko chairman, president and CEO.
"Anadarko's position in the deepwater GoM is very robust, with nine hub-and-spoke development projects already on-line, a number of discoveries proceeding toward sanction, six exploration wells currently drilling, and a solid prospect inventory for the future. The agreement with Statoil represents an opportunity to realize the value from a portion of our portfolio."
11/7/06
