Anadarko's Acquisition of BP's Wattenberg Adds to Gas Assets

Filed under: Chevron Corp (CVX), ConocoPhillips (COP), BP p.l.c. ADS (BP), Duke Energy (DUK), Anadarko Petroleum (APC), Oil

Recently Anadarko (APC) has agreed to buy BP's 93% interest in the Wattenberg Plant, located in the northeastern part of Colorado, for about $575 million. Anadarko already owns the remaining interest in the plant.



Anadarko is the largest producer of natural gas in the Wattenberg field and the deal will provide Anadarko with 100% ownership of the plant. The company relies heavily on natural gas, which we estimate accounts for nearly 40% of its stock value. It vies for business with established oil and gas producers like Exxon Mobil, (XOM) ConocoPhillips (COP), Chevron (CVX), BP (BP) and Duke (DUK).

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Anadarko's Acquisition of BP's Wattenberg Adds to Gas Assets originally appeared on BloggingStocks on Wed, 30 Mar 2011 16:45:00 EST. Please see our terms for use of feeds.

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