Anadarko Secures $556M For Gulf Of Mexico Project

Law360, New York (July 2, 2012, 5:03 PM EDT) -- Anadarko Petroleum Corp. on Monday secured $556 million for a Gulf of Mexico development project as part of a joint-venture capital carry arrangement with an undisclosed party, providing the oil giant with 100 percent of its expected capital obligation through the beginning of production at the site.

In exchange for the funds, Anadarko is giving the investor a 7.2 percent interest in the Lucius development project, which is a $2 billion deepwater oil and natural gas development venture Anadarko is spearheading. The Texas-based energy company will...
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