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Apache To Acquire Upstream Assets In The Permian Basin From BP - Deal Analysis from GlobalData
GlobalData, July 2010, Pages: 19
Apache To Acquire Upstream Assets In The Permian Basin From BP - Deal Analysis from GlobalData
Summary
Apache Corporation, (Apache) agreed to acquire all the oil and gas operations, acreage and infrastructure in the Permian basin of West Texas and New Mexico from BP p.l.c.,(BP) for a purchase consideration of $3,100 million, subject to customary post-completion price adjustments. The acquisition includes 10 Permian basin fields: Block 31, Empire/Yeso, SELea, Brown Bassett, Block16/Coy Waha, Spraberry, Wilshire, North Misc, Pegasus, and Delaware Penn in Texas and Southeast New Mexico; two BP-operated gas processing plants at Block 31 and Crane; and non-operated interests in the Terrell gas processing facility.
The assets have net production of approximately 15,100 barrels of liquids per day and 80 million cubic feet of gas per day, or a total of 28,433.33 million barrels of oil equivalent per day, in the first-half of 2010. The net proved reserves and net resources associated with the assets are approximately 126 million barrels of oil equivalent and 148 million barrels of oil equivalent respectively.
The transaction implies deal values of $109,026.96 per boe of daily production and $24.6 per boe of proved reserves.
Scope
- Rationale behind Apache acquiring BP's Permian Basin assets
- Strategic Benefits for the companies involved
- Geography covered -US
Reasons to buy
- Develop a sound undestanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
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