One-Page Deal Sheet
Apache acquires 28 Permian Fields
Apache Corp, Morgan Stanley, Txco Resources Inc. Not Disclosed
Announced Date
March 10,2008
Effective Date
March 29,2007
Close Date
March 29,2007
Transaction Type
Property
Enterprise Value (EV)($MM)
1000
Location
Calculated Metrics( EV/Category)
Country
United States
State
Texas
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
Apache Corp. has closed on the previously announced $1 billion acquisition of controlling interest in 28 producing oil and natural gas fields on more than 218,000 gross acres with over 300 drilling locations in the Permian Basin of West Texas from Anadarko Petroleum Corp.
Apache will book net reserves of 70 MMboe (57 MM barrels of oil and 78 bcf of natural gas); net daily production from the fields is estimated at 9,000 barrels of oil and 19 million cubic feet of gas. The acquisition adds 31% to the company’s existing Permian oil production and 24% to its gas production in the basin.
“These…
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