March 5 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