BHP Billiton JV Acquired Field in the Gulf of Mexico

Global miner BHP Billiton Ltd. as part of a voint venture acquired an oil and gas development in the Gulf of Mexico from Anadarko Petroleum Corp. for $1.35 billion.

BHP's net share of the acquisition is at $594 million. The other partners in the joint venture are U.S. refiner Hess Corporation and Spain's Repsol YPF.

Anadarko's Genghis Khan oil and gas development, discovered in 2005, already has two oil wells and estimated gross hydrocarbon reserves of about 65-170 million barrels of oil equivalent.