Bloomberg – by David Wethe and Alex Nussbaum
Anadarko Petroleum Corp. dropped the most since August after the oil and natural gas explorer said it will shut more than 3,000 Colorado wells as part of an investigation into a deadly house explosion.
Shares slipped as much as 5.6 percent to $56.59 in New York trading, their biggest intraday slide since Aug. 1, and were down 4.8 percent to $57.07 as of 10:15 a.m. in New York. Anadarko will close and inspect the wells as a precaution after the April 17 blast, The Woodlands, Texas-based driller said in a statement Wednesday. Colorado authorities said they have yet to determine a cause for the tragedy. Continue reading “Anadarko shuts down thousands of Colo. wells”
