The Anadarko Petroleum Corp., The Woodland, Texas, (NYSE: APC) offering of its the Woodlands, Texas-based midstream Western Gas Partners LP has filed an S-1 to IPO 18.75 million units at approximately $24.15 each for a total raise of up to $452.8 million on the New York Stock Exchange as WES. UBS Investment Bank is underwriter.

Western Gas Partners will use the proceeds to pay Anadarko $337.6 million and general partner Western Gas Holdings LLC, a subsidiary of Anadarko, for its assets and IPO fees. Anadarko will use proceeds to pay down a portion of its credit facility.

Robert G. Gwin is president and chief executive of the general partner and vice president, finance, and treasurer of Anadarko. He was CEO of Community Broadband Ventures LP. Danny J. Rea is senior vice president and chief operating officer of the general partner and vice president, midstream, of Anadarko. He was manager, midstream services. Michael C. Pearl is senior vice president and chief financial officer of the general partner and director, corporate tax, of Anadarko. He was corporate tax manager.

Western Gas Partners has a total 2,845 miles of pipeline in East Texas, West Texas, the Rockies and the Midcontinent with approximately 2,500 reception points. Anadarko has dedicated to the MLP all gas production it owns or controls from wells connected to Western Gas Partners' gathering systems, and additional wells that are drilled within one mile of connected wells or its gathering systems. Volumes associated with these assets as of June 30 were approximately 755 million cu. ft. of gas per day. The total average throughput is 820 million cu. ft. per day.

A large portion of the MLP's assets were acquired in 2006 in Anadarko's purchase of Rockies-focused Western Gas Resources Inc.

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