Anadarko To Acquire Gulfstream Resources

Anadarko Petroleum Corporation has entered into an agreement to acquire Canadian-based Gulfstream Resources Canada Limited for C$2.65 per share in cash. The total value of the acquisition is approximately US$137 million, subject to normal closing adjustments. The Gulfstream properties provide Anadarko with production and exploration in the Middle East, which offers a world-class petroleum system with high exploration success rates and low finding and developing costs.