Anadarko Petroleum Corp. (APC) has an initial agreement for a joint venture for its Salt Creek enchanced oil recovery project, the company said in an investor presentation in The Woodlands, Texas, today. Anadarko would sell 23 percent of the assets in a transaction that would include the buyer paying a portion of development costs, Chief Financial Officer Bob Gwin said. He said the transaction has confidentiality restrictions, and may close in coming weeks.
Anadarko also said it’s considering a joint venture for holdings in the DJ Basin, excluding its core Wattenberg area. The company may do at least one more joint-venture transaction during the year, Gwin said.
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