HOUSTON, Nov. 1 -- Anadarko Petroleum Corp., Houston, agreed to sell its southeastern Colorado producing properties to an affiliate of Citation Oil & Gas Corp., Wayman, Kan., for $107.6 million.
The property package includes an estimated 9 million boe of proved reserves as of July 1, the proposed effective date of the sale. Closing is expected by yearend.
The properties have current net production of 3,000 boe/d and are 80% operated. The reserves are 90% oil and nearly 100% developed.