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Stock Market & Financial Investment News

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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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February 26, 2015
09:25 EDTAPCAnadarko to host conference call
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February 24, 2015
08:20 EDTAPCEnterprise, Anadarko, DCP, MarkWest form joint venture for Panola
Enterprise Products Partners (EPD), Anadarko Petroleum (APC), DCP Midstream Partners (DPM) and MarkWest Energy Partners (MWE) announced the formation of a joint venture under which Enterprise will assign 45% ownership interest in its wholly owned Panola Pipeline Company. The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Company, DCP Midstream Partners and MarkWest. Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest. The Panola Pipeline, which transports natural gas liquids, originates in Carthage, Texas and extends 181 miles to Mont Belvieu, Texas. Incremental capacity is expected to be available in 1Q16. This corrects the symbol for Enterprise Products Partners.

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