Anadarko Petroleum (APC -1%) agrees to set up a JV with an undisclosed third party to fund its...

|About: Anadarko Petroleum Corporation (APC)|By:, SA News Editor

Anadarko Petroleum (APC -1%) agrees to set up a JV with an undisclosed third party to fund its anticipated $556M of capital spending through the start of production at its Lucius project in the deepwater Gulf of Mexico. APC will contribute a 7.2% working interest in Lucius and remain operator with a 27.8% working interest. Other Lucius owners include PXP, XOM, APA.