Anadarko Petroleum Corp.

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
0MM
Description

Anadarko Petroleum Corp. has retained Macquarie Tristone to sell certain assets in South Texas.

The package includes an average 81% working interest (64% net revenue interest) in 14 fields (formerly Kerr-McGee) with 38,891 net acres and 366 producing wells along the Lobo producing trend in Webb and Zapata counties and the Vicksburg trend in Starr and Hidalgo counties. Production is 81% operated and primarily from the Lobo and Vicksburg sands.

The assets also feature compression and gathering systems to optimize product handling.

Net production is 22 million cubic feet of gas equivalent per day, which includes 792 barrels of gas liquids per day. Proved developed producing reserves are 104 billion cubic feet equivalent. Proved, probable and possible reserves are more than 450 billion cubic feet equivalent.

Upside includes development opportunities in the Frio, Yegua and Wilcox formations and emerging resource potential in the Navarro and Jackson shales.

Bids are due in early November. Contact Tom Duncan, 713-651-4223, tom.duncan@macquarie.com.