Newfield, Anadarko To Split TXCO Assets For $310M

Law360, New York (January 12, 2010, 8:03 PM EST) -- Newfield Exploration Co. and Anadarko Petroleum Corp. have agreed to split TXCO Resources Inc.'s Texas assets in a joint transaction worth up to $310 million, less than a week after Anadarko made a higher bid for the bankrupt oil company than Newfield had as the stalking horse bidder.

The two companies said on Tuesday that the final amount of the deal — which still requires approval from the U.S. Bankruptcy Court for the Western District of Texas — would be set at closing in mid-February....
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