Anadarko Petroleum Corp. (NYSE: APC) will sell its southwest Wyoming Moxa asset for about $350 million, the company said.
The Moxa gas-producing asset has seen a sharp decline in production since 2016, when volumes peaked in third-quarter 2016 at an average 86 million cubic feet per day (cf/d) of natural gas. For third-quarter 2017, production had fallen to 72 MMcf/d. Moxa also produces a small amount of NGL.
The buyer of the asset wasn’t disclosed by Anadarko. In February, Anadarko said it operated more than 960 wells in the Moxa Field in Wyoming and carried a nonoperating position in 430 wells.