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Anadarko Announces JV for Gulf of Mexico Lucius Development Project

Anadarko Petroleum Corp Not Disclosed
AnnouncedJul 2, 2012
TypeJV
LocationGulf Of Mexico (GOM)
Announced Date
July 02,2012
Effective Date
January 01,2012
Close Date
July 02,2012
Transaction Type
JV
Enterprise Value (EV)($MM)
556




Snapshot
Asset/Basin:
{"Gulf of Mexico"}
Location
Region
Gulf of Mexico

Country
United States

State
Texas

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Transaction Details:  Subscribe to see

Anadarko Petroleum Corporation today announced it has signed a definitive agreement with an undisclosed party to enter into a joint-venture capital carry arrangement for Anadarko's ownership in the Gulf of Mexico Lucius development project. Under the terms of the agreement, Anadarko will be carried for $556 million, which is estimated to represent 100 percent of its expected capital obligation through the anticipated date of first production at Lucius. In exchange, Anadarko will convey a 7.2-percent working interest in the Lucius development and will continue as operator with a 27.8-percent…



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