Anadarko Petroleum Corp. Wednesday said it received bids on 30,000 net acres of minerals and generated more than $82 million in proceeds in a lease offering by auction of its open and unleased mineral interests in Arkansas.

Anadarko had offered the right to lease about 250,000 gross (206,000 net) acres throughout Arkansas. About 170,000 net acres are considered to be in the natural gas-rich Fayetteville Shale fairway; another 5,000 acres lie within the Smackover play in southern Arkansas.

The auction of Anadarko’s positions in the Fayetteville Shale fairway and Arkoma Basin was announced last month (see Daily GPI, Oct. 30). Besides the $82 million, Anadarko will receive a minimum 12.5% royalty, subject to closing adjustments.

“We remain focused on our core operating areas and unlocking value in our portfolio of assets,” said CFO Al Walker. “We have accelerated the realization of value from these noncore, nonproducing minerals through this innovative leasing approach, while capitalizing on the competition, energy and interest that a live auction provides.”

Anadarko, which did not release the names of the buyers, said the leases were awarded “solely on a highest bid-per-lot basis.” Post-sale title adjustments have to be completed within 90 days. The auction was conducted by the Oil & Gas Asset Clearinghouse in Houston.

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