Anadarko Petroleum Corporation (NYSE:APC) today completed the previously announced sale of its interests in the deepwater Gulf of Mexico Genghis Khan discovery to the owners of the adjacent Shenzi field for $1.33 billion.
The Shenzi ownership group is comprised of BHP Billiton (NYSE: BHP and BBL), with 44 percent, and Hess Corporation (NYSE: HES) and Repsol YPF (NYSE: REP), with 28 percent each.
Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2005, the company had 2.4 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. In August 2006, Anadarko acquired Kerr-McGee Corporation and Western Gas Resources, Inc. in separate transactions. For more information about Anadarko, please visit: www.anadarko.com.
