Anadarko (APA) Finalizes Lucius Field Development Agreement
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Anadarko Petroleum Corporation (NYSE: APC) reports the finalization of a unitization agreement with Exxon Mobil Corporation and co-owners to develop the Lucius field.
The unitization includes portions of Keathley Canyon blocks 874, 875, 918 and 919 in the deepwater Gulf of Mexico. Anadarko will operate the unit with a 35-percent working interest. Following the unitization agreement, the Lucius interest owners entered into an agreement with the Hadrian South co-venturers whereby natural gas produced from the Hadrian South field will be processed through the Lucius facility in return for a production-handling fee and reimbursement for any required facility upgrades.
Co-owners in the Lucius unit include Plains Exploration & Production Company (NYSE: PXP) with a 23.3-percent working interest; Exxon Mobil Corporation (NYSE: XOM) with a 15-percent working interest; Apache Deepwater LLC, a subsidiary of Apache Corporation (NYSE: APA) with an 11.7-percent working interest; Petrobras (NYSE: PBR) with a 9.6-percent working interest; and Eni Petroleum with a 5.4-percent working interest.
The unitization includes portions of Keathley Canyon blocks 874, 875, 918 and 919 in the deepwater Gulf of Mexico. Anadarko will operate the unit with a 35-percent working interest. Following the unitization agreement, the Lucius interest owners entered into an agreement with the Hadrian South co-venturers whereby natural gas produced from the Hadrian South field will be processed through the Lucius facility in return for a production-handling fee and reimbursement for any required facility upgrades.
Co-owners in the Lucius unit include Plains Exploration & Production Company (NYSE: PXP) with a 23.3-percent working interest; Exxon Mobil Corporation (NYSE: XOM) with a 15-percent working interest; Apache Deepwater LLC, a subsidiary of Apache Corporation (NYSE: APA) with an 11.7-percent working interest; Petrobras (NYSE: PBR) with a 9.6-percent working interest; and Eni Petroleum with a 5.4-percent working interest.
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