Total to Buy Anadarko's Africa Assets for $8.8 Billion if Occidental Deal Closes
07 Mayo 2019 - 1:45AM
Noticias Dow Jones
By Nathan Allen
Total SA (FP.FR) said Tuesday that it has agreed to buy Anadarko
Petroleum Corp.'s (APC) assets in Africa for $8.8 billion if
Occidental Petroleum Corp.'s (OXY) takeover bid for the Texas-based
oil producer goes through.
Assuming Occidental closes the takeover of Anadarko, Total will
take on assets across Algeria, Ghana, Mozambique and South Africa
containing 1.2 billion barrels of oil equivalent of proved and
probable reserves, of which 70% is natural gas.
The portfolio also includes 2 billion barrels of oil equivalent
in long-term natural gas resources in Mozambique, Total said.
The French oil major said the deal should be cashflow positive
from 2020, even if Brent prices fall below $50 a barrel.
The assets should generate more than $1 billion a year in free
cashflow from 2025, the company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
May 07, 2019 02:30 ET (06:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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