One-Page Deal Sheet
Anadarko Announces Joint Venture with Mitsui in the Marcellus Shale
Mitsui & Co. Ltd. Anadarko Petroleum Corp
Announced Date
February 16,2010
Effective Date
January 01,2010
Close Date
March 15,2010
Transaction Type
JV
Enterprise Value (EV)($MM)
1400
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Anadarko Petroleum, announced a joint-venture agreement with Mitsui E&P USA LLC, an affiliate of Mitsui & Co., Ltd., whereby Mitsui will participate with Anadarko as a 32.5-percent partner in Anadarko's Marcellus Shale assets, primarily located in north-central Pennsylvania, for approximately $1.4 billion.
Mitsui will earn approximately 100,000 net acres in exchange for funding 100 percent of Anadarko's share of development costs in 2010, and 90 percent of these costs thereafter, with an estimated completion of all obligations by 2013. In addition, Mitsui will have the opportunity to purchase…
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