Apache Disposes off its Gulf of Mexico Shelf Assets or $4B

Hira Shahnawaz Akhtar

Published onJuly 26, 2013

Updated on May 13, 2021

Apache Corporation (NYSE:APA) announced last week that it has plans to exit the Gulf of Mexico by selling its Shelf operations and assets to Fieldwood Energy LLC for a cash transaction of $3.75 billion.

Fieldwood Energy is a portfolio company of Riverstone Holdings Limited (SGX:AP4), with a focus on acquisition of out-of-favor or underworked assets and under-capitalized companies that can be profitably developed with exploitation of Fieldwood’s expertise. Riverstone and Fieldwood have previously partnered successfully to build Dynamic Offshore Resources into one of the largest operators on the Gulf of Mexico Shelf.

Apache Corporation shelf portfolio

Apache Corporation (NYSE:APA)’s Shelf portfolio is composed of...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

Apache Disposes off its Gulf of Mexico Shelf Assets or $4B

Apache Corporation shelf portfolio

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