Combining their efforts following a bidding dual to acquire interests from bankrupt TXCO Resources Inc., San Antonio, (Nasdaq: TXCO), both New-field Exploration Co., Houston (NYSE: NFX) and Anadarko Petroleum Corp., The Woodlands, Texas (NYSE: APC) will divide the spoils of South Texas assets for $310 million.Anadarko will acquire more than 80,000 net acres in the Maverick Basin from TXCO for approximately $93 million and increase its operated working interest in these properties to 75%. The acquisition involves a pre-existing joint venture in the play covering 345,000 gross acres in which Anadarko previously held 50%. St. Mary Land & Exploration Co., Denver, (NYSE: SM) holds the other 25%.
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