Anadarko Closes Sale of Gulf of Mexico Discovery to Shenzi Group.HOUSTON -- Anadarko Petroleum Corporation Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with 2.37 billion barrels of oil equivalent (BOE) of proved reserves and a production of 190 million BOE in 2004. Ranked No. (NYSE NYSE See: New York Stock Exchange :APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ) today completed the previously announced sale of its interests in the deepwater Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east Genghis Khan discovery to the owners of the adjacent Shenzi field for $1.33 billion. The Shenzi ownership group is comprised of BHP Billiton (NYSE: BHP and BBL), with 44 percent, and Hess Corporation (NYSE: HES) and Repsol YPF (NYSE: REP), with 28 percent each. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2005, the company had 2.4 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. In August 2006, Anadarko acquired Kerr-McGee Corporation and Western Gas Resources Western Gas Resources is a Fortune 1000 company based in Denver, Colorado and founded in 1971. Western is an independent natural gas explorer, producer, gatherer, processor, transporter and energy marketer. , Inc. in separate transactions. For more information about Anadarko, please visit: www.anadarko.com. |
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