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Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253. Oxy has won the fight for Anadarko. Citing capital discipline as the reason, Chevron has elected not to make another bid for the independent. Anadarko Petroleum now plans to exit its agreement with Chevron after deeming Occidental Petroleum's revised takeover bid "superior." Colorado voters soundly defeated a measure 6 November that would have restricted the vast majority of new development in the country’s fifth largest oil-producing state.