- Anadarko Petroleum (APC +2.6%) shares are strong after its financial update says its 8M acres of mineral rights in the Rocky Mountains are accelerating beyond last year’s $675M revenue boost.
- The disclosure has encouraged investors who want APC to sell some interest in the land or find a way to more fully recognize its value, Oppenheimer's Fadel Gheit says; the rights, which date back to land grants given 150 years ago, are in one of the fastest-growing areas for oil drilling in the U.S.
- APC is weighing a deal that would amount to “renting” some of the acreage and the revenue it generates to investors, Citi analyst Robert Morris says, adding that a similar deal within the next year could be worth as much as $750M.