The US-based oil and gas producer will sell its operated and non-operated upstream assets and operated midstream assets in the Marcellus Shale of north-central Pennsylvania.
However, the midstream assets in the Marcellus owned by Western Gas Partners, a master limited partnership sponsored by Anadarko, were not included in the sale.
Anadarko chairman, president and CEO Al Walker said: “With this transaction, we have announced or closed monetizations totaling well in excess of $5bn in 2016, while principally focusing Anadarko's U.S. onshore activities on our world-class oil-levered assets in the Delaware and DJ basins.”
The Marcellus Shale asset sale includes approximately 195,000 net acres, which generated total sales volumes of approximately 470 million cubic feet per day in the third quarter of 2016.
The transaction is expected to be completed during the first quarter of 2017, subject to customary closing conditions and adjustments.
In September, Anadarko Petroleum signed an agreement to acquire the deepwater Gulf of Mexico assets of Freeport-McMoRan Oil & Gas, a unit of mining firm Freeport-McMoRan, for $2bn.
The acquisition was expected to boost its output in the region to about 155,000 barrels of oil equivalent a day.
Anadarko planned to add two rigs in each play later this year. It also intended to more than double its production to at least 600,000 BOE per day collectively from Delaware and DJ basins over the next five years.
Image: The Marcellus Shale asset sale includes approximately 195,000 net acres. Photo courtesy of Anadarko Petroleum Corporation.
