Anadarko sells oil field for $1.3B |
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Fri, 02 Feb 2007 22:46
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HOUSTON (AFX) - Oil and gas producer Anadarko Petroleum Corp. said Friday it completed the sale of a Gulf of Mexico oil field to a venture group made up of competitors.Anadarko announced the transaction, valued at $1.3 billion, in November. The buyers are BUP Billiton, Hess Corp. and Respol YPF SA.BHP Billiton, which has a 44 percent stake in the group, said it spent $583 million on the purchase. Hess and Respol each hold a 28 percent interest.Shares of Anadarko Petroleum Corp. fell 16 cents Friday to $43.76, while BHP Billiton Ltd. fell 44 cents to $40.98, both on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Anadarko sells Wyo. oil fields for $400M 