Anadarko bids farewell to Marcellus

HOUSTON, December 22, 2016 – Anadarko Petroleum on Wednesday announced it would sell Marcellus Shale acreage, with plans to shed Eagle Ford assets in the making.

In a deal valued at USD 1.24 billion, the US independent will sell its 789-square-kilometre Marcellus Shale position, along with associated assets, to privately held Alta Resources Development. Anadarko sourced 13.3 mcm (470 mcf) per day in natural gas sales volumes from the package during the third quarter of 2016.

Commenting on the move, which is expected to close in the first quarter of 2017, spokesperson John Christiansen said it was “an exit from Marcellus,” adding that Anadarko would concentrate its efforts on the Colorado’s DJ Basin and Texas’ Delaware Basin. Analysts expect the company to begin selling Eagle Ford asset next, possibly as early as 2017.

Photo courtesy of Andarko

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