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Stock Market & Financial Investment News

News Breaks
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 28, 2014
08:38 EDTAPCAnadarko volatility elevated as crude oil trades lower
Anadarko overall option implied volatility of 36 compares to its 26-week average of 30 according to Track Data, suggesting large price movement.
November 25, 2014
18:13 EDTAPCBlack Hills receives approval for acquisition of certain assets of MGTC
Black Hills (BKH) announced that the Wyoming Public Service Commission approved the acquisition of certain gas transmission and distribution utility assets of MGTC, wholly owned subsidiary of Anadarko Petroleum (APC). The transaction is expected to close by Jan. 1, 2015. Black Hills Corp. is acquiring the MGTC assets in northeastern Wyoming for approximately $6M.

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