Anadarko said to turn away from Chevron, pursue deal talks with Occidental Petroleum GlobeBusiness
. The vast shale field holds oil and gas deposits that can produce supplies for decades using low-cost drilling techniques.
There is no certainty that Occidental, which was vying for Anadarko before Chevron clinched its deal, will be able to secure its own deal, the sources said. The acquisition of Anadarko would add nearly a quarter million acres to Occidental’s holdings in the Permian shale basin, and double its global oil and gas production to 1.4 million barrels of oil equivalent per day.
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