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US: Early termination for Apache assets’ $3.75B sale review

By  |  August 5, 2013
US: Early termination for Apache assets’ $3.75B sale review

US antitrust regulators approved the sale of oil conglomerate Apache’s Gulf of Mexico Continental Shelf properties in a deal made to Fieldwood Energy for $3.75 billion. The assets were previously sold to Apache by BP for $1.3 billion in 2006. Reports say the deal was cleared under an early termination of the review by the US Department of Justice Antitrust Division. First announced on July 18, the sale marks the first acquisition by Fieldwood, which was established in December of last year. Reports say the Gulf of Mexico fields produced total reserves of about 239 million barrels of oil equivalent.

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