Anadarko to buy Kerr-McGee, WGR in $21 billion deal

07/03/2006
Anadarko Petroleum Corp., Houston, is acquiring Kerr-McGee Corp. in Oklahoma City and Western Gas Resources Inc. (WGR), Denver, in separate cash transactions totaling $21.1 billion, plus assumption of $2.2 billion debt.The combined company will be the largest US-based independent producer, with “industry-leading positions in the deepwater Gulf of Mexico and the Rockies, two of the fastest-growing oil and natural gas producing regions in North America,” said Jim Hackett, Anadarko’s chairman, president, and chief executive. The two acquisitions will expand Anadarko’s deepwater holdings and create a leading producer in the Rocky Mountains.“This is the first time...
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