Crosspoint Ventures bids $190 million for Anadarko Canada assets

Crosspoint Ventures, the US global private equity and venture capital firm, has submitted an offer of $190 million to buy one of Canada's largest oil and gas operations from Anadarko Canada Corp., a subsidiary of Houston-based Anadarko – the eighth largest natural gas producer in North America.

The purchase is part of a $2 Billion divestiture of Anadarko properties. The properties to be acquired are largely operated properties located inCentral Alberta, South East Alberta, and Saskatchewan. The divestiture includes related infrastructure interests, third party processing revenues, and a footprint of over 50,000 acres of developed land and 80,000 acres of undeveloped land.

In related news Anadarko earlier this month acquired Access Northeast Energy, a private Canadian company