Other News

Anadarko anoints `brand ambassadors’ to fight off drilling bans

Windsor High School junior Kamille Hocking worried a dozen oil wells on her family’s 132-acre Colorado homestead might sicken them. Then, Rebecca Johnson, an Anadarko Petroleum Corp. engineer, used a blender in her chemistry class to show the interaction of swirling frack sand, city water and friction reducer. “We heard a lot of stories about how it could get into the water and pollute the land,” said Hocking, who is 16. “I’m going to tell my parents that fracking fluid only makes cracks in the rock the size of a hair that the sand gets into and holds open.”

Oil & Gas

Apache snub of Anadarko approach puts both explorers in play

Apache Corp.’s rejection of a takeover offer from Anadarko Petroleum Corp. leaves both energy explorers vulnerable to acquisition. Anadarko, the third-largest US natural gas producer, said it withdrew an all-stock offer after Apache refused to engage in substantive talks. Apache, one of the biggest leaseholders in the largest US shale play, slumped 7.3 percent, the most in nearly a year. Anadarko dropped 3.8 percent, wiping out $1.2 billion in market value. For Anadarko, an acquisition of the $20 billion company would have served as a defense from any potential suitors. Major oil companies including Royal Dutch Shell Plc and Exxon Mobil Corp., which have a half-trillion dollars in cash and shares to fund takeovers, are seen as likely to approach beaten-down US independent producers.