The Wall Street Journal: Anadarko seals $2.3 billion deal to sell South Texas oil, gas assets

Anadarko Petroleum Corp. has agreed to sell its South Texas oil-and-gas assets to Sanchez Energy Corp. and Blackstone Group LP for $2.3 billion.

The Wall Street Journal had reported on the deal in October.

The deal, expected to close in the first quarter, includes roughly 155,000 net acres located next to Sanchez’s existing assets with 130 gross drilled but uncompleted wells and is part of Anadarko’s APC, -0.15% planned asset sales to pay down debt. The company had also said it would also consider investing some of the money in its best assets if commodity prices improve.

Western Gas Partners LP, Anadarko’s master limited partnership, still owns and operate midstream assets in the area and likely do business with Sanchez Energy SN, +1.40% and Blackstone BX, -0.03% .

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