M&A Deal Summary

Anadarko Petroleum Acquires Kerr-McGee

On August 10, 2006, Anadarko Petroleum acquired oil/gas exploration company Kerr-McGee for 16.4B USD

Acquisition Highlights
  • This is Anadarko Petroleum’s 6th transaction in the Oil/Gas Exploration sector.
  • This is Anadarko Petroleum’s largest (disclosed) transaction.
  • This is Anadarko Petroleum’s 4th transaction in the United States.
  • This is Anadarko Petroleum’s 4th transaction in Texas.

M&A Deal Summary
Date 2006-08-10
Target Kerr-McGee
Sector Oil/Gas Exploration
Buyer(s) Anadarko Petroleum
Deal Type Add-on Acquisition
Deal Value 16.4B USD

Target

Kerr-McGee

The Woodlands, Texas, United States
Kerr-McGee's largest property concentrations are in the deepwater Gulf of Mexico and onshore in the Rockies. Gulf of Mexico properties include 504 deepwater blocks encompassing seven operated and three non-operated producing fields, five operated and three non-operated discoveries in various stages of development, and four additional prospects that should be drilled this year.

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Buyer(S) 1

Buyer

Anadarko Petroleum

The Woodlands, Texas, United States
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 7 of 11
Sector (Oil/Gas Exploration) 6 of 10
Type (Add-on Acquisition) 6 of 7
State (Texas) 4 of 4
Country (United States) 4 of 8
Year (2006) 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-12 Access Northeast Energy

Halifax, Nova Scotia, Canada

Access Northeast Energy Inc. develops and operates liquefied natural gas (LNG) terminals at Bear Head in Nova Scotia, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-23 Western Gas Resources

Denver, Colorado, United States

Western Gas Resources CBM properties within the Powder River Basin are estimated to hold about 9 trillion cubic feet (Tcf) of original gas in place and are directly adjacent to Anadarko's assets in this developing play. Western Gas Resources also has a 10 percent average working interest in its Pinedale/Jonah joint ventures, which encompass world-class fields totaling more than 40 Tcf of original estimated gas in place. Anadarko expects that combining its properties and skill sets with Western Gas' will accelerate the development of these natural gas resources and produce strong volume growth from these properties through the end of the decade, and possibly longer, with more than 12,000 identified drilling locations in inventory.

Buy $4.8B
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