Transaction Details: 

Anadarko Petroleum has agreed to sell its operated and non-operated upstream assets and operated midstream assets in the Marcellus Shale of north-central Pennsylvania to Alta Marcellus Development, LLC, a wholly owned subsidiary of Alta Resources Development, LLC, for approximately $1.24 billion. The midstream assets in the Marcellus owned by Western Gas Partners, LP Anadarko's sponsored master limited partnership, are excluded from the agreement.

The Marcellus Shale divestiture includes approximately 195,000 net acres and, at the end of the third quarter of 2016, sales volumes from these properties totaled approximately 470 million cubic feet per day, 99% gas.

The transaction is expected to close during the first quarter of 2017, subject to customary closing conditions and adjustments.

Jefferies LLC marketed the assets, and Sidley Austin LLP served as Anadarko's legal counsel.

Anadarko Petroleum Leasehold Map

Source ; Shale Experts GIS/Mapping Database