Anadarko to Sell Certain Natural Gas Assets

Anadarko Petroleum Corp said on Wednesday it would sell certain natural gas assets in the Marcellus shale to a unit of Alta Resources Development LLC, for about $1.24 billion.

 

The Marcellus shale divestiture includes about 195,000 net acres, the company said.

 

Sales volumes from these assets totaled about 470 million cubic feet per day of natural gas equivalent at the end of the third quarter of 2016.

 

The mid-stream assets in the Marcellus owned by Western Gas Partners LP, Anadarko's sponsored master limited partnership, are excluded from the agreement.


(Reporting by John Benny in Bengaluru; Editing by Shounak Dasgupta)