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Anadarko Petroleum Corporation (NYSE:APC) has signed a joint-venture agreement in the Gulf of Mexico Lucius development project.

Anadarko Petroleum Corporation (NYSE:APC) has signed a joint-venture agreement in the Gulf of Mexico Lucius development project.

As quoted in the press release:

Under the terms of the agreement, Anadarko will be carried for $556 million, which is estimated to represent 100 percent of its expected capital obligation through the anticipated date of first production at Lucius.

Click here to read the Anadarko Petroleum Corporation (NYSE:APC) press release.

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