Anadarko's Western Gas Pays $1.5B For Nuevo Midstream

Law360, New York (October 29, 2014, 12:48 PM EDT) -- Anadarko Petroleum Corp. subsidiary Western Gas Partners LP will buy private-equity backed Nuevo Midstream LLC for $1.5 billion, bolstering development potential in the fertile Delaware Basin where its parent is producing energy.

The deal announced Wednesday is expected to close in the fourth quarter, pending shareholder and regulatory approvals.

Houston-based Western Gas' CEO, Don Sinclair, said Nuevo’s expertise in the Delaware Basin, a region of oil fields straddling west Texas and south Mexico, works to its advantage as Anadarko holds a significant position in the area.

"We are buying an early-stage asset that we believe will deliver significant growth as the...

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