Gulf Oil and Gas accountACCOUNT

Apache to Operate Permian Yeso Oil Play Acreage

Source: www.gulfoilandgas.com 10/15/2010, Location: North America

Apache Corporation announced that a subsidiary's settlement of a dispute concerning preferential rights to purchase interests in the Yeso oil play in Eddy County, N.M., will enable Apache to operate the properties with an approximate 60-percent working interest.

Apache's subsidiary acquired a 50-percent interest in the acreage in its previously announced acquisition of BP's oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico. The subsidiary acquired an additional 10-percent interest and became operator as a result of the settlement of the dispute with Concho Resources and Marbob Energy Corp. As a result of the settlement, Concho will own approximately 40 percent of the acreage.

In the BP Permian transaction, which was completed in August, Apache's subsidiary acquired assets with estimated proved reserves of 120 million barrels of oil equivalent (boe) and first-half 2010 net production of 21,800 boe per day.

The Permian transaction is one element of Apache's previously announced agreement to acquire all of BP's oil and gas operations, acreage and infrastructure in the Permian Basin and Egypt's Western Desert and substantially all of BP's upstream natural gas business in western Alberta and British Columbia in Canada.

Acquisitions and Divestitures News in United States >>

United Arab Emirates >>  4/18/2019 - Eni has signed an Exploration and Production Sharing Agreement covering Block A Offshore Ras Al Khaimah, as well as the relevant Joint Operating Agree...
United Kingdom >>  4/18/2019 - Angus Energy is pleased to inform investors that, further to its announcement of 26 February 2019, the Company has now completed the acquisition of Do...

Argentina >>  4/17/2019 - Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina. ...
Argentina >>  4/16/2019 - Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. ...

Morocco >>  4/16/2019 - Sound Energy, the Moroccan focused upstream gas company, is pleased to announce that the process to convert Schlumberger's existing 27.5% interest in ...
Russia >>  4/16/2019 - Gazprom Neft subsidiary Gazpromneft-Zapolyarye has concluded long-term risk-based operator agreements with Gazprom PJSC subsidiaries, allowing the com...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 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 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 |

More News

Related Links

CA US
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.