Anadarko Sale Of GOM Interest Blocked by BP, Devon

Representatives of BP Plc and Devon Energy Corporation told reporters April 22 that they have stopped Anadarko Petroleum's sale of a Gulf of Mexico discovery to StatoilHydro.

BP, Devon and Anadarko acted as partners in the lower-Tertiary Kaskida discovery. Reports indicate that BP and Devon chose to exercise their respective right to stop the sale to StatoilHydro. The quashing of the sale effectively divides the discovery between BP and Devon, with BP owning 73.33% of Kaskida and Devon owning the remaining percentage.

BP spokesperson Daren Beaudo told the press that his company's move to stop the sale indicates how strongly BP feels about the potential of the Kaskida find.

In August 2006, a well drilled in the area encountered 800 net feet of hydrocarbon-bearing sands.

Anadarko owned a 25% working interest in Kaskida. Anadarko could not be reached for comment at press time.

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