One-Page Deal Sheet
Apache to Acquire ExxonMobil's Beryl Field, Other UK North Sea Assets
Apache Corp ExxonMobil
Announced Date
September 21,2011
Close Date
December 30,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
1750
Asset/Basin:
{"UK North Sea"}
Location
Calculated Metrics( EV/Category)
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Apache Corporation, said today that its subsidiary Apache North Sea Limited has agreed to acquire Exxon Mobil Corporation's Mobil North Sea LLC assets — including the Beryl field and related properties — for $1.75 billion.
The fields have current net production of approximately 19,000 barrels of oil and natural gas liquids and 58 million cubic feet (MMcf) of natural gas per day. At year-end 2010, estimated proved reserves totaled 68 million barrels of oil equivalent.
The transaction, with a planned close at year-end 2011, is expected to increase Apache's North Sea production by 54 percent and…