BHP Billiton, Melbourne, Australia, (NYSE: BHP) Hess Corp., New York, (NYSE: HES) and Repsol YPF, Madrid, Spain, (NYSE: REP) plan to acquire the Genghis Khan discovery in deepwater Gulf of Mexico from Anadarko Petroleum Corp., The Woodlands, Texas, (NYSE: APC) for $1.35 billion.

The sale includes Anadarko's 100% working interest in Green Canyon 652 and certain deep rights in GC 608, with proved, probable and possible reserves of more than 200 million BOE. The buyers are also joint-venture owners of the adjacent Shenzi Field.

Randall & Dewey is financial advisor to Anadarko. The deal is expected to close in this quarter.

Meanwhile, Statoil ASA, Stavanger, Norway, (NYSE: STO) plans to acquire interests in and around two deepwater Gulf discoveries and one prospect from Anadarko for US$901 million.

The deal includes Anadarko's 25% working interest in the Nexen-operated Knotty Head discovery, 15% working interest in the Chevron-operated Big Foot discovery and 15% working interest in the Chevron-operated Big Foot North prospect. Pro forma, Statoil will have a 27.5% working interest in Big Foot Field and a 27.5% working interest in the Big Foot North prospect.

Statoil recently acquired working interests in Big Foot, Big Foot North and Caesar fields from Plains Exploration & Production, Houston (NYSE: PXP).

Statoil senior vice president for Gulf activities Øivind Reinertsen says, "We are well positioned in key deepwater areas, with working interest in 11 discoveries, including the current development of the Tahiti Field. With this acquisition, we'll add an interesting new discovery to our portfolio and will gain a solid foothold in Big Foot and Big Foot North."

The deal is expected to close in the first quarter of 2007. Randall & Dewey is financial advisor to Anadarko on its lease blocks relating to Knotty Head, and Lehman Brothers is financial advisor on Big Foot and Big Foot North.

In another deal, Anadarko plans to swap its remaining Canadian arctic frontier interests with assets of Chevron USA Inc. and Chevron Canada Ltd.

Chevron will gain Anadarko's interests in the Mackenzie Delta, Beaufort Sea and Yukon areas in exchange for incremental 12.5% working interests in seven deepwater Gulf blocks encompassing the Tonga discovery, as well as enhanced terms within the companies' recently announced West Texas exploration joint venture. Anadarko has a 37.5% working interest in Tonga Field and intends to accelerate development.

The deals are in addition to Anadarko's $4-billion sale of its Western Canadian assets. Chairman, president and chief executive Jim Hackett says the deals refocus the company's portfolio and provide cash to reduce debt from its Kerr-McGee and Western Gas Resources acquisitions. The Chevron transaction provides "valuable new interests within our core onshore and deepwater Gulf of Mexico focus areas," he adds.

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