Anadarko gets carried on Heidelberg

Taking a carry: Anadarko on Heidelberg

Scott Chan/freedigitalphotos.net

Steve Marshall

 05 March 2013 14:30 GMT

Anadarko Petroleum has struck a deal with an undisclosed party for a carried interest in its Heidelberg field development in the deep-water Gulf of Mexico.

The agreement will result in field operator Anadarko being carried for $860 million to cover almost all of its costs on the project in the run-up to scheduled first oil in mid-2016.

The third party will be handed a 12.75% working interest in return for the carry, while Anadarko will remain operator with a 31.5% stake under the deal, subject to standard conditions and due to close in April.

Anadarko chief executive Al Walker said the agreement gives a market value of around $3 billion for the US independent's stake in the Heidelberg…

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