One-Page Deal Sheet
Anadarko Makes Major Sale, Exits Bohai Bay Field in China
Brightoil Petroleum Holdings, Ltd. Anadarko Petroleum Corp
Announced Date
February 17,2014
Close Date
August 08,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
1075
Asset/Basin:
{"Bohai Bay"}
Location
Region
Asia - Pacific,Asia
Country
China
Transaction Details: Subscribe to see
Anadarko Petroleum Corporation has announced it has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum (Holdings) Limited, whereby Anadarko will divest its Chinese subsidiary for $1.075 billion.
Anadarko Chairman, President and CEO Al Walker, said: "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…
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