4 May 2024
Anadarko sells off USD 1 billion in east Texas assets
Publication date: 22 November 2016
Gas Strategies Group
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Anadarko Petroleum Corporation has concluded a USD 1 billion deal to sell its Carthage upstream and midstream assets in east Texas to Connecticut-based Castleton Commodities International (CCI).
The acquisition will give CCI over 160,000 acres of leasehold property in the Haynesville basin, the third-most prolific shale gas region in the US and one known for being highly pressurised, leading to strong initial output that quickly drops in the second year of production.