A $1.24 billion sale of assets in the Marcellus Shale has been announced by Anadarko Petroleum Corporation.
It’s agreed to sell its operated and non-operated upstream assets and operated midstream assets in north-central Pennsylvania to Alta Marcell Development, LLC, a wholly-owned subsidiary of Alta Resources Development LLC.
The divestiture includes nearly 195,000 net acres with sales volumes from the properties totaling 470 million cubic feet a day.
Anadarko says with the transaction, the company has closed monetizations totaling well in excess of $5 billion in 2016. At the same time, Al Walker, Anadarko Chairman, President and CEO said it occurred while “principally focusing Anadarko’s U.S. onshore activities on our world-class oil-levered assets in the Delaware and DJ basins.”