One-Page Deal Sheet
Apache Buys BP's Property in Gulf
Apache Corp BP Plc
Announced Date
June 01,2006
Effective Date
April 01,2006
Close Date
June 21,2006
Transaction Type
Property
Enterprise Value (EV)($MM)
845
Location
Calculated Metrics( EV/Category)
Country
United States
State
Texas
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/Location
Transaction Details: Subscribe to see
Apache Corporation announced today that it has finalized an agreement to acquire BP's remaining producing properties on the Outer Continental Shelf of the Gulf of Mexico. In the negotiated transaction, Apache will pay $1.3 billion in cash to acquire 18 producing fields (11 of which are operated) covering 92 blocks with estimated proved reserves of 27 million barrels of liquid hydrocarbons and 185 billion cubic feet (Bcf) of natural gas. Apache also has identified 50 drilling locations on the properties and an additional 4 million barrels of liquids and 26 Bcf of natural gas in probable and…
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