Anadarko Petroleum is paying about $575.5 million to buy the 93% stake in a Colorado natural-gas-processing plant it did not already own from a unit of BP. After the deal, Anadarko will operate and have 100% ownership of the plant.
The deal, which may close by mid-year, is subject to regulatory approvals and other contractual conditions. The Wattenberg Processing Plant acquisition will help Anadarko cut costs and improve production in the area.
Click here for the release from Anadarko.