Apache to exit Australia E&P

Offshore staff

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.


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