One-Page Deal Sheet
Apache Acquires BP Permian Assets For $7.0 Billion
Apache Corp BP Plc
Announced Date
July 20,2010
Effective Date
July 01,2010
Close Date
August 11,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
7000
Asset/Basin:
{Permian,"Western Canada Sedimentary Basin","Western Desert"}
TargetZones:
{Montney,Cadomin,Doi
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Middle East,Permian,Canada
Country
Canada
Country
Egypt
Country
United States
State
New Mexico
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Apache Corporation today announced it has agreed to acquire all of BP's oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico and Egypt's Western Desert. Apache also will acquire substantially all of BP's upstream natural gas business in western Alberta and British Columbia. Apache will pay $7 billion for the assets, which include estimated proved reserves of 385 million barrels of oil equivalent (boe).
Net production from the properties in the first half of 2010 was 28,000 barrels of liquid hydrocarbons and 331 (MMcf) of gas per day, or a total…
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