Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Acquisitions and Divestitures

2. Acquisitions and Divestitures

For the nine months ended September 30, 2014, the Company received $4.8 billion in proceeds from divestitures and recognized net gains of $2.2 billion, primarily related to assets included in the oil and gas exploration and production reporting segment. In the third quarter of 2014, the Company sold its Chinese subsidiary for $1.075 billion, recognizing a gain of $510 million, and sold its interest in certain unproved properties in the Gulf of Mexico for $500 million, recognizing a gain of $216 million. In the first quarter of 2014, the Company sold a 10% working interest in Rovuma Offshore Area 1 in Mozambique for $2.64 billion, recognizing a gain of $1.5 billion, and sold its interest in the Pinedale/Jonah assets in Wyoming for $581 million.

On October 28, 2014, Anadarko’s consolidated subsidiary, Western Gas Partners, LP (WES), entered into an agreement to acquire a privately held company with gathering and processing assets located in the Delaware basin in West Texas for $1.5 billion in cash. The acquisition is expected to close and be funded in the fourth quarter of 2014 and is subject to regulatory approvals and other customary closing conditions.