9:54 AM Anadarko Petroleum (APC -1%) agrees to set up a JV with an undisclosed third party to fund its anticipated $556M of capital spending through the start of production at its Lucius project in the deepwater Gulf of Mexico. APC will contribute a 7.2% working interest in Lucius and remain operator with a 27.8% working interest. Other Lucius owners include PXP, XOM, APA. (Read the comments on this)
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