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.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...