One-Page Deal Sheet
Apache to Shed Canadian Deep Basin Assets
Not Disclosed Apache Corp
Announced Date
March 31,2014
Effective Date
January 01,2014
Close Date
April 30,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
374
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Apache Corporation and its subsidiaries has reached an agreement to sell producing oil and gas assets in the Deep Basin area of western Alberta and British Columbia, Canada, for $374 million.
Incremental to Apache's earlier $2 billion share re-purchase announcement, the company plans to use the proceeds of this transaction to buy back Apache common shares under the 30-million-share repurchase program that was authorized by Apache's Board of Directors in 2013.
Apache is selling primarily dry gas-producing properties comprising 622,600 gross acres (328,400 net acres) in the Ojay, Noel and…
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