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February 18, 2014
05:35 EDTAPCAnadarko to divest Chinese subsidiary for $1.08B
Anadarko Petroleum announced it has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum, whereby Anadarko will divest its Chinese subsidiary for $1.08B. Anadarko chairman, president and CEO Al Walker stated, "This transaction accelerates the recognition of value from a non-operated legacy asset and continues to demonstrate our commitment to active portfolio management. We value our long-term relationship with CNOOC, wish them continued success and look forward to future partnering opportunities." The subsidiary to be divested owns Anadarko's non-operating interest in the Bohai Bay field. During 2013, Anadarko's net oil sales volumes from Bohai Bay averaged approximately 11,000 barrels per day. The transaction is expected to close later this year subject to preferential rights, regulatory approvals and other customary closing conditions.
News For APC From The Last 14 Days
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November 23, 2015
10:08 EDTAPCAnadarko could be potential target for Total, Betaville's Harrington says
Total (TOT) previously looked at Anadarko (APC), according to Ben Harrington, speaking on TipTV. Reference Link
November 18, 2015
13:23 EDTAPCAnadarko volatility elevated as WTI crude oil trades below $40
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November 17, 2015
08:38 EDTAPCApache assets do not warrant a premium, says Canaccord
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08:10 EDTAPCMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
November 16, 2015
07:42 EDTAPCAnadarko named a Top Pick at Cowen
Cowen moved Anadarko (APC) to a Top Pick, citing valuation and the company's ability to execute large, complex mergers. Cowen noted Anadarko approached Apache (APA) and declined when the deal did not happen, but the firm sees material upside for Anadarko shares. Cowen reiterated its Outperform rating and $87 price target on Anadarko.

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