Finding it easier to add new reserves on Wall Street than from E&P in the ground, Anadarko bought both Kerr-McGee and Western Gas on Friday, June 23rd in a $21 Billion Deal in the Oil Patch -- from the Houston Chronicle.

In an unexpectedly bold move Friday, Anadarko Petroleum Corp. announced it would purchase not one but two oil and gas companies for a combined $21.2 billion, in a ringing endorsement of U.S. energy exploration....

It's buying Kerr-McGee, a storied energy company out of Oklahoma City that is heavily entrenched in the Gulf of Mexico's deep waters and the Rocky Mountains, and the smaller Western Gas Resources of Denver, which also has significant reserves in the Rockies.

The double deal had some analysts doing a double take.

This analyst was also a bit stunned and a little investigation turned up a number of interesting things. Let's check this deal out.