Apache Corp. to Unload $1.05.B on Devon’s U.S. Gulf of Mexico Assets


Gulf of Mexico

Apache Corp. said Monday it plans to buy Devon Energy Corp.’ s shallow-water oil and gas assets on the U.S. Gulf of Mexico Shelf for $1.05 billion US to extend its reach in that area.

The deal with Apache would net Devon about $840 million after taxes, bringing the company to the high end of its expectations to raise $4.5 billion to $7.5 billion from all of its international andoffshore asset sales. Devon still has properties in China to sell. In March, British oil major

BP PLC agreed to pay $7 billion for Devon’s assets in Brazil, the deepwater Gulf of Mexico and a development in Azerbaijan.

Devon said in November it planned to sell its international and offshore properties so it could focus on North American natural gas and oilsands.

Source: CalgaryHerald,April 13,2010;

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation…

read more >

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply