Texas-based Anadarko sold its stakes in the Shell-operated Vito project in the U.S. Gulf of Mexico to an unnamed buyer for $500 million.
The sale is part of Anadarko’s $2.2 billion divestment plan that ended during the third quarter.
The company will exit its 18.67 percent stakes in Mississippi Canyon blocks 940, 941, 984 and 985 and its 50 percent stakes at Atwater Valley blocks 18 and 19.
The deals also includes Anadarko’s wholly owned Atwater Valley blocks 65, 148, 149, 151 and 194 and its stakes in Mississippi Canyon blocks 943, 944 and 945.
Shell drilled Vito’s first discovery well in 2009 at Mississippi Canyon Block 984.
Resources at Vito are estimated at 300 million barrels of oil equivalent per day with production capacity estimated at about 100,000 barrels of oil equivalent per day.
A final investment decision for Vito will be made in 2016.
Anadarko will continue to develop deepwater U.S. Gulf of Mexico projects.
The company will hold onto its Haleakala prospect in Mississippi Canyon Block 977 where it plans to target a 7,000 foot Miocene sand section thought to be comparable to Vito’s reservoir.
“There is lots of sand out there in this mini-basin. It’s a big objective section. We think it’s got a lot of potential,” Anadarko’s executive vice president of deep-water and international exploration Bob Daniels said.