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Apache To Pay $1.75B For Exxon Assets

Apache Corp.’s subsidiary Apache North Sea will be acquiring Exxon Mobil Corp.’s Mobil North Sea assets for $1.75 billion.

Apache Corp.’s subsidiary Apache North Sea will be acquiring Exxon Mobil Corp.’s Mobil North Sea assets for $1.75 billion. This includes the Beryl field and related properties. The deal will boost Apache’s North Sea production by an estimated 54 percent and proven reserves by 44 percent.

Apache is looking to fund this deal in cash. The acquisition is subject to regulatory approval and preferential rights.

Click here for the release from Apache.

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