Anadarko Petroleum Corp. has continued efforts to market selected assets following its acquisition of Kerr-McGee Corp. and Western Gas Resources Inc. in August.
Offshore staff
HOUSTON -- Anadarko Petroleum Corp. has continued efforts to market selected assets following its acquisition of Kerr-McGee Corp. and Western Gas Resources Inc. in August.
Included in those assets are "certain deepwater Gulf of Mexico properties and international assets, including Mackenzie Delta and other Canadian Arctic properties, says Al Walker, senior vice president and CFO.
On September 19, Anadarko received the proceeds from a $5.5 billion offering of new-issue senior notes which will repay borrowings under a 365-day term loan agreement used to finance the acquisition.
"In addition to raising capital for debt reduction, targeted divestitures are expected to result in a portfolio of assets that is less capital intensive, more geographically concentrated, and has better growth potential with lower execution risk," Walker says.
