Apache to exit Australia E&P
Apache Corp. has agreed to sell its Australian subsidiary Apache Energy Ltd. for $2.1 billion.
HOUSTON – Apache Corp. has agreed to sell its Australian subsidiary Apache Energy Ltd. for $2.1 billion.
The buyers are a consortium of private equity funds managed by Macquarie Capital Group and Brookfield Asset Management.
Apache expects the transaction to close mid-year, subject to government and regulatory approvals.
The company’s Australian assets produced on average 49,000 boe/d.
Carnarvon Petroleum, Apache’s partner in last year’s Phoenix South oil discovery offshore Western Australia, said the deal should not impact a planned follow-up well on the nearby Roc oil prospect during 4Q 2015.