Apache Making GOM Moves

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Last month Apache acquired Devon’s Gulf of Mexico assets for a reported $1.05 billion. The properties have a drilling upside of about 19,000 barrels of oil equivalent per day and estimated net proved and probable reserves of 83 million barrels of oil equivalent at YE 2009 with roughly half of the proved reserves being oil and NGLs.  The acquired properties are expected to produce a net 9,500 barrels of liquids and 55 million cubic feet of gas per day after closing which is expected to be in early June.

“Devon’s exit from the Gulf of Mexico creates a great opportunity for Apache to add one of the best remaining Shelf asset portfolios to our existing core area,” states G. Steven Farris, Apache’s chairman and CEO.

The following is a map of the acquired Gulf of Mexico properties.

Apache Making GOM Moves

Then two days later Apache announces merging with Mariner Energy to combine Mariner’s successful deepwater drilling record with Apache’s global assets.

“This is a strategic step and a natural extension into the deepwater Gulf for Apache,” said G. Steven Farris. “Mariner provides an exciting new platform for growth in the deepwater and complements our strengths in the Gulf Shelf and the Permian Basin. Based on our experience working with the Mariner team, we also believe the two companies will make an excellent cultural fit.”

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Anne Leonard

In January 2015, Anne Leonard headed the team that launched the latest addition to DrillingInfo’s international publications, International Scout Frontier North America which covers the US Gulf of Mexico as well as Maritime and Arctic Canada. She has been reporting on exploration and production for more than 30 years. She began her career in Denver covering the Rocky Mountain Region, and has spent the last 10 years covering the international arena, with a particular focus on Latin America, Africa, Western Europe and the Far East. Anne received her Bachelor of Arts in Journalism from the University of Nebraska.