One-Page Deal Sheet
Apache Acquires Gulf Properties
Apache Corp Devon Energy Corp
Announced Date
April 12,2010
Effective Date
January 01,2010
Close Date
June 10,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
1050
Asset/Basin:
{"Gulf of Mexico Shelf"}
TargetZones:
{Norphlet}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Gulf of Mexico
Country
United States
State
Texas
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Apache Corporation has agreed to acquire Devon Energy Corporation's oil and gas assets on the Gulf of Mexico Shelf for $1.05 billion.
Apache estimated net proved and probable reserves of 83 million barrels of oil equivalent at year-end 2009.
The properties are projected to produce 9,500 barrels of liquid hydrocarbons and 55 million cubic feet of gas per day (net) after closing - the same balance of liquids and natural gas in Apache's current worldwide production.
Closing is expected in early June. Liquid hydrocarbons also are expected to contribute more than 70 percent of the projected…
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