Anadarko's Assets | Russell T. Rudy Energy LLC
“Rigzone” reports that Anadarko’s Chairman and CEO, Al Walker, has told investors that as the crude oil price collapse lingers, he expects shale assets in the Bakken and Eagle Ford shales to be put up for sale. While the industry has been expecting such property sales for quite some time, they have yet to become widespread. However, companies with heavy debt and high break even costs in these plays are finally going to have to sell assets to generate cash.
Walker observed “We’ve not really seen good distressed assets make their way into the market. For companies that have positions in the Bakken, they probably will start to see that sooner than others.” He then went on to say that he expects sales of Eagle Ford properties in the short term as well.
Nevertheless, Anadarko is interested in adding assets in areas where it has access to infrastructure, such as Colorado’s DJ Basin and the Delaware play in the Permian Basin of West Texas.
To read the article in its entirety, please go to http://www.rigzone.com/news/oil_gas/a/141539/Anadarko .
