Anadarko Petroleum $2 billion acquisition of Freeport McMoRan assets

Overview:

• Anadarko Petroleum has acquired $2 billion in assets from Freeport McMoRan.
• The assets consist of offshore oil and natural gas wells in the Gulf of Mexico.
• The deal will help Freeport get out from under heavy debt obligations.
• Anadarko's purchase closely follows that of a $2.5 billion acquisition by fellow oil and gas company EOG Resources, indicating an awaited revival in the industry.
• Latham & Watkins (Michael Darden, Michael Dillard, Sean Wheeler) advised Anadarko.
• Wachtell Lipton Rosen & Katz (David Shapiro, Joshua Feltman) advised Freeport.

Kurt Stumpo - Journalist - North America and the Caribbean