Anadarko Petroleum Corp., Houston, (NYSE: APC) has closed the acquisition of Western Gas Resources Inc., Denver, (NYSE: WGR) for approximately $4.8 billion in cash, plus $650 million in assumed debt. The Western Gas assets are in the Powder River Basin in Montana and Wyoming. Proved reserves total 153 million barrels of oil equivalent (57% proved undeveloped). Production this year is expected to total about 12.5 million barrels (mostly gas). Anadarko plans to recover approximately 705 million barrels of oil equivalent on the Western Gas properties, at a full-cycle cost of approximately $6.7 billion, or less than $10 per barrel.
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