Anadarko Petroleum to sell U.S. Gulf oilfield stake for $860 mln
March 5 (Reuters) - Oil and gas producer Anadarko Petroleum Corp said it would sell a 12.75 percent working interest in an oil project in deepwater Gulf of Mexico for $860 million to an undisclosed firm.
Anadarko plans to use the proceeds to fund the project until mid-2016, when it will start production.
The company said the Heidelberg development project is estimated to hold up to 400 million barrels of recoverable resources and the deal gives Anadarko's stake in the project a market value of $3 billion.
Anadarko will continue as operator with a 31.5 percent working interest.
- Malaysia military source says missing jet veered to west |
- Ukraine appeals to West as Crimea turns to Russia |
- Malaysia air probe finds scant evidence of attack: sources |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source
- CIA accused of spying on U.S. Senate intelligence committee