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Anadarko Sells San Juan Midstream Assets To Castleton

|Includes: Anadarko Petroleum Corporation (APC)

Anadarko Petroleum Corporation has sold a gas processing facility (San Juan) in Kirtland, New Mexico, and approximately 225 miles of gathering pipelines to Castleton Commodities International (NYSE:CCI).

The San Juan plant has a capacity of 75 MMcf/d and is able to process sour gas that is high in sulfur. The plant also has the capacity to recover NGLs through its 20 MMcf/d cryogenic processing unit. Approximately 150 miles of the 225 miles of gathering pipelines connect into CCI's existing Lisbon gas plant.

CCI's Vice President (Midstream operations) Brad Burmaster said, "We are pleased to add the San Juan Plant to our growing portfolio of energy assets and expand our footprint in the Four Corners area. The San Juan acquisition is a logical expansion of CCI's existing upstream and midstream assets in Colorado, Utah and New Mexico."

In Mar-2014, Western Gas Partners agreed to acquire a 20% interest in each of Texas Express Pipeline LLC and Texas Express Gathering LLC and a 33.33% interest in Front Range Pipeline LLC from Anadarko for $375 million.

In Oct-2012, Warren Resources closed the acquisition of certain natural gas and midstream assets from Anadarko in the Atlantic Rim Project area, Washakie Basin, Wyoming.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.