Anadarko Petroleum Corp. Marcellus Shale
Anadarko Petroleum Corp. (NYSE: APC) sells Stake in $1.4 Billion U.S. Gas Deal Marcellus Shale natural gas project to Japanese trading company Mitsui & Co. for $1.4billion.
Mitsui says it'll invest a minimum of $3 billion to help move the estimated $25 billion gas project forward. The goal is to get gas production levels up to 460 million cubic feet a day.
As a result of the agreement, Mitsui will have a 32.5 percent stake in the assets of Anadarko, which is about 15.5 percent of the gas production project.
The lifespan of Marcellus Shale is projected at about 60 years, with production expected to peak sometime between 2018 and 2020.
Anadarko Petroleum Corp. Marcellus Shale
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