Anadarko Petroleum said on Friday that it has sold assets in the Eagle Ford Basin to Sanchez Energy Corporation and Blackstone Group for $2.3 billion.
The divestiture includes about 155,000 net acres primarily located in Dimmit and Webb counties.
At the end of the fourth quarter of 2016, sales volumes from the properties totaled 45,000 barrels of liquids per day and about 131 million cubic feet of natural gas per day.
Texas-based Anadarko said its sponsored master limited partnership, Western Gas Partners, will continue to own and operate its midstream assets in South Texas.
Anadarko added that Western Gas Partners is “expected to benefit from drilling commitments made by the buyers in conjunction with this transaction.”
“The ongoing success of our portfolio-management activities provides us with the flexibility to further accelerate capital investments in our higher-return oil opportunities in the Delaware Basin, the DJ Basin, and the deepwater Gulf of Mexico, which drive our ability to deliver a 12- to 14-percent five-year compounded annual oil growth rate,” Anadarko CEO, president and chairman Al Walker said.
The transaction is expected to close in the first quarter of 2017, subject to customary closing conditions and adjustments.
Earlier this month, Anadarko agreed to sell midstream assets in the Marcellus shale basin to Alta Marcellus Development for $1.24 billion..
Alta Marcellus is a wholly owned subsidiary of Alta Resources Development.
The deal includes operated and non-operated upstream assets and operated midstream assets in the Marcellus shale area located in north-central Pennsylvania.