Anadarko Announces Joint-Venture Agreement for the Gulf of Mexico Lucius Development @Marketwire @resilient_ent #VentureCapital

Anadarko Petroleum Corporation /quotes/zigman/217978/quotes/nls/apc APC -1.89% today announced it has signed a definitive agreement with an undisclosed party to enter into a joint-venture capital carry arrangement for Anadarko's ownership in the Gulf of Mexico Lucius development project.

 Under the terms of the agreement, Anadarko will be carried for $556 million, which is estimated to represent 100 percent of its expected capital obligation through the anticipated date of first production at Lucius. In exchange, Anadarko will convey a 7.2-percent working interest in the Lucius development and will continue as operator with a 27.8-percent working interest.

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