By OGJ editors
HOUSTON, Jan. 18 -- Encore Acquisition Co. has agreed to pay $400 million for Anadarko Petroleum Corp.'s interests in the Elk basin and Gooseberry area, primarily in Park County, Wyo.
The sale agreement also includes the 12 MMcfd Elk basin gas plant and Clear Fork Pipeline Co., an oil and gas gathering system.
The transaction, which became effective Jan. 1, is expected to close by the end of the first quarter.
At the effective date, production was 4,350 b/d of oil equivalent (net) from 614 wells in two fields in the Elk basin and Gooseberry area. Anadarko holds about 17,550 net acres and operates all of these properties. Oil accounted for 80% of 2006 production.
