Company News: Anadarko sells properties; nears divestment goal

09/20/2004
Anadarko Petroleum Corp., Houston is nearing its announced divestment goal. Apache Corp. will pay $537 million for Anadarko's Gulf of Mexico shelf properties, and Morgan Stanley Capital Group Inc. will buy for $775 million the company's royalty interest in production from those properties.In a separate deal, Anadarko plans to divest certain US properties for $850 million in cash along with an interest in two oil and natural gas fields in Wyoming. The names of the buyers were not disclosed.The transactions are part of Anadarko's previously announced plan to reduce its debt and buy back stock. Anadarko plans to sell properties representing 15% of its yearend 2003 proved reserves...
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