Anadarko Petroleum Corp. rose after announcing plans to sell $3 billion in assets this year while cutting spending on new wells and other projects by almost 50 percent as the oil and natural gas producer weathers the crude market collapse.
Anadarko’s U.S. onshore activities will be reduced the most, by almost $2.5 billion, The Woodlands, Texas-based Anadarko said in a statement Tuesday. Anadarko will also lower its onshore rig count by 80 percent to five. Internationally, the producer expects minimal funding in Mozambique in 2016 as it works toward a final decision on a liquefied natural gas project.
Brazil Energy Insight 
Leave a comment