M&A Deal Summary

Anadarko Petroleum Acquires Freeport-Mcmoran Gulf Of Mexico Assets

On September 12, 2016, Anadarko Petroleum acquired oil/gas exploration company Freeport-Mcmoran Gulf Of Mexico Assets from Freeport-McMoRan for 2.0B USD

Acquisition Highlights
  • This is Anadarko Petroleum’s 10th transaction in the Oil/Gas Exploration sector.
  • This is Anadarko Petroleum’s 3rd largest (disclosed) transaction.
  • This is Anadarko Petroleum’s 8th transaction in the United States.

M&A Deal Summary
Date 2016-09-12
Target Freeport-Mcmoran Gulf Of Mexico Assets
Sector Oil/Gas Exploration
Buyer(s) Anadarko Petroleum
Sellers(s) Freeport-McMoRan
Deal Type Divestiture
Deal Value 2.0B USD

Target

Freeport-Mcmoran Gulf Of Mexico Assets

United States
Freeport-Mcmoran Gulf Of Mexico Assets offers oil and gas production services. GOM properties averaged approximately 73 thousand barrels of oil equivalents (MBOE).

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Buyer(S) 1

Buyer

Anadarko Petroleum

The Woodlands, Texas, United States

website

Category Company
Founded 1959
Sector Oil/Gas Exploration
Employees5,800
Revenue 12.9B USD (2018)
DESCRIPTION
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.

Anadarko Petroleum Corp. is an independent oil and natural gas exploration and production company. Anadarko Petroleum was formed in 1959 and is based in The Woodlands, Texas.

DEAL STATS #
Overall 11 of 11
Sector (Oil/Gas Exploration) 10 of 10
Type (Divestiture) 2 of 2
Country (United States) 8 of 8
Year (2016) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-24 Springfield Pipeline

Houston, Texas, United States

Springfield Pipeline LLC consists of 548 miles of gas gathering lines with a capacity of 795 MMcf/d and 241 miles of oil gathering lines with a capacity of 130 MBbls/d, located in Dimmit, La Salle, Maverick and Webb Counties in South Texas.

Sell $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 Western Gas Partners

The Woodlands, Texas, United States

Western Gas Partners LP owns, operates, acquires and develops midstream energy assets. WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as third-party producers and customers.

Sell $4.0B

Seller(S) 1

SELLER

Freeport-McMoRan

Phoenix, Arizona, United States

website

Category Company
Founded 1987
Sector Metals/Mining
Employees25,600
Revenue 22.8B USD (2022)
DESCRIPTION
Entrance to Freeport-McMoRan's corporate headquarters in Phoenix, Arizona.
Entrance to Freeport-McMoRan's corporate headquarters in Phoenix, Arizona.

Freeport-McMoRan is an international natural resources company. Freeport-McMoRan operates large, long-lived, geographically diverse assets with reserves of copper, gold, molybdenum, cobalt, oil and gas. Freeport-McMoRan was founded in 1987 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 2
Country (United States) 2 of 2
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-08 The Lucius oil field

United States

Lucius will produce oil and gas through a truss spar floating production facility. The spar will be 605ft long and 110ft in diameter. It will be installed in 7,100ft of water. It will have a nameplate capacity of 80,000 barrels of oil a day (BOPD) and 450 million cubic feet of gas a day (mcf/d). The hull will weigh approximately 23,000t. The topsides will have an initial payload of 15,000t.

Buy $1.4B
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