Anadarko Petroleum is to sell its Eagleford Shale assets for about $2.3billion.
The stake in the South Texas assets will be sold to a strategic 50/50 partnership formed by
Sanchez Energy Corporation and asset manager Blackstone Group LP.
It is expected the sale will help the firm to accelerate operations in its more high-return operations such as the Delaware basin, the DJ Basin in Colorado and the deepwater Gulf of Mexico.
Al Walker, chief executive officer of Anadarko, said in a statement that the sale would help the company accelerate operations in its more high-return properties such as Texas’ Delaware Basin, the DJ Basin in Colorado and the deepwater Gulf of Mexico.
The divestiture includes about 155,000 net acres mainly located in Dimmit and Webb counties.
Anadarko announced in December the sale of certain natural gas assets in the Marcellus shale for about $1.24 billion to a unit of Alta Resources Development LLC.