Anadarko Said to Shop Assets in Wyoming, E. Texas and Louisianaby
Anadarko Petroleum Corp., the third-largest U.S. gas producer, is in the process of selling assets in Wyoming, East Texas and Louisiana as part of its plan to raise $3 billion, people with knowledge of the matter said.
The explorer, based in Woodlands, Texas, is working with different financial advisers to find buyers for each batch of assets, which could fetch $300 million to $600 million apiece, said the people, who asked not to be identified because the information is private.
The largest package Anadarko is shopping is its position in the Carthage area of East Texas, the people said. The other assets on the block are in the Haynesville Basin of Louisiana and Wamsutter field of Wyoming, they said.
The driller said this week it has closed $1.3 billion in asset sales this year and is in the process of divesting another $700 million or more, without identifying them. The company previously announced plans to sell $3 billion in assets this year, in addition to idling rigs.
John Christiansen, a spokesman for Anadarko, declined to comment.
U.S. explorers are increasingly selling off blocks of unwanted oil-and-gas producing land to raise cash amid the steepest industry slump in decades. Chesapeake Energy Corp., Noble Energy Inc. and Statoil ASA announced asset sales this week totaling more than $1.3 billion.