Anadarko Pens $1.4B Joint Venture With Mitsui Unit

Law360, New York (February 16, 2010, 3:16 PM EST) -- Anadarko Petroleum Corp. said Tuesday it had forged a $1.4 billion deal to form a joint venture with a unit of Japan's Mitsui & Co. Ltd., a move that will allow it to explore for natural gas in the Marcellus Shale in Pennsylvania.

Under the terms of the agreement, Mitsui E&P USA LLC will participate with Anadarko as a 32.5 percent partner in its Marcellus Shale assets, the company said.

Mitsui will earn approximately 100,000 net acres in exchange for funding 100 percent of Anadarko’s share...
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