Anadarko to sell its pipeline and storage assets for $4 billion

FAN Editor

Oil and gas producer Anadarko Petroleum said on Thursday it would sell nearly all of its midstream assets, including pipelines, to its master limited partnership Western Gas Partners for $4.02 billion.

The company is selling assets in the Permian basin in Texas and New Mexico, and the DJ basin in Colorado.

Western Gas will take complete ownership of DBM Oil Services, and APC Water Holdings, while acquiring a 50 percent stake in multiple gas plants in the Delaware basin of West Texas, the companies said.

The sale is expected to close in the first quarter of 2019.

Free America Network Articles

Leave a Reply

Next Post

EU says euro zone growth to slow amid risks from U.S., Italy, Brexit

FILE PHOTO – Shipping containers sit stacked at the Port 2000 terminal in the Port of Le Havre, France September 6, 2018. REUTERS/Benoit Tessier November 8, 2018 By Francesco Guarascio BRUSSELS (Reuters) – Euro zone growth is expected to slow in the coming years as the bloc faces risks from […]