Investors lopped off $1.5 billion from Anadarko Petroleum Corp.’s stock-market value on Thursday on the news it’s cooperating with an investigation by Colorado officials into a fatal home explosion near one of its old wells.
Anadarko shares closed at $57.13 on Thursday, down 4.7 percent, or $2.83, from the previous day, its lowest price since last September. Anadarko’s market capitalization stood at $31.9 billion on Thursday.
State and fire officials haven’t concluded what caused the house blast that killed two men and injured a woman earlier this month in Firestone, Colorado. The home was recently built about 200 feet from an Anadarko well that another company drilled in 1993.
As a precautionary measure, Anadarko said it shut in 3,000 vertically drilled wells in northeast Colorado as it completes well-site inspections. Collectively, the wells produced about 13,000 barrels of oil equivalent a day.