Apache’s Central Region spans the Permian Basin of West Texas and New Mexico, the Anadarko Basin in western Oklahoma and the Texas Panhandle, and East Texas.
20 July 2010
BP Signs North America
and Egypt Asset Deals with Apache
BP announced today that it has entered into several agreements to sell upstream
assets in the United States, Canada and Egypt to Apache
Corporation.
The deals, together worth a total of $7 billion, comprise BP's Permian Basin
assets in Texas and south-east New Mexico, US; its Western
Canadian upstream gas assets; and the Western Desert business
concessions and East Badr El-din exploration concession in Egypt.
アメリカ、テキサス州西部からニューメキシコ州東部にまたがるパーミアン盆地は、ペルム紀（二畳紀）の堆積物で構成され厚さ約 3700mに及ぶ。ペルム紀には内陸海の底だったこの地域は現在はテキサスにおける石油生産の中心地となっている。
The decision to make
these divestments follows the announcement made by BP last month
that it was increasing its target for divestments to $10
billion. The
proceeds of the sales will be used by BP to increase the cash
available to the group.
BP Chairman, Carl-Henric Svanberg, said: "Over the last two
months the Board has considered BP's options for generating the
cash necessary to meet the obligations likely to arise from the
Gulf of Mexico oil spill. BP has an extremely strong asset base
which is diversified geographically as well as by asset class.
The Board believes that there are opportunities to divest assets
which are strategically more valuable to other parties than they
are to BP. Today's announcement is the first such transaction and
meets the value and strategic criteria of both parties."
BP group chief executive Tony Hayward said: "We have
achieved an excellent price for a set of properties that are
worth more to others than to BP. This is a good first step which
underlines our ability and determination to get maximum value for
everything we sell."
"This transaction provides a sustainable growth platform for
Apache's onshore North America operations as well as strategic
infrastructure and exploration potential in Egypt," said G.
Steven Farris, Apache's chairman and chief executive officer.
"We appreciate the opportunity and the professional manner
in which BP employees conducted themselves. Their cooperation was
a key ingredient for this transaction to come together."
The aggregate proceeds for the deals is $7 billion, subject to
customary post-completion price adjustments, such proceeds to be
paid in cash. Each sale will take place through a separate
agreement between BP and Apache, and none of the sales will be
conditional on completion of any of the other sales occurring.
Although each of the transactions is subject to certain
regulatory approvals (as described in more detail below), it is
expected that they will all be completed during the third quarter
of 2010.
Apache is due to pay BP a cash deposit of $5 billion in aggregate
on 30 July 2010. The deposit is split $3.25bn for Canada, $1.5bn
for Permian and $0.25bn for Egypt. For the sale of the Western
Canadian upstream gas assets, the relevant BP selling entity
shall issue a convertible debenture in favour of Apache in an
amount equivalent to the sale price for such assets. The
debenture will automatically exchange for the assets that are
sold to Apache on closing of the transaction.
For each sale, in the event that any third party exercises any
pre-emption rights over any asset being sold, the relevant price
payable by Apache will be correspondingly reduced to take into
account that it will not acquire such asset and the proceeds for
the sale of such asset will instead be received by BP from the
third party. For the sale of the Western Canadian gas assets, any
such pre-emption exercise will adjust the amount of the
convertible debenture accordingly and require a corresponding
portion of the $3.25bn deposit to be repaid to Apache.
For each sale, in the event that the necessary regulatory
approvals are not obtained by a certain date (for the Permian
Basin assets sale this is 29 October 2010; for the Western
Canadian gas asset sale this is 31 January 2011; and for the
Egyptian asset sale this is 19 July 2011), BP will be required to
repay the relevant deposit to Apache or, in the case of the
Western Canadian gas asset sale, the convertible debenture. BP
plc. has guaranteed such repayment obligations.
The aggregate replacement cost profit (before interest and
taxation) attributable to the assets to be sold in these deals
for the year ended 31 December 2009 was US$166 million. The
aggregate value of the gross assets (net of accumulated
depreciation) to be sold in these deals as at 30 June 2010 was US
$3,085 million (with a net book value of tangible and intangible
assets included in this number as of this date of US$ 2,998
million).
Sale
of Permian Basin assets in Texas and south-east New Mexico
The total consideration payable for the Permian basin assets is US$3.10 billion, subject to customary
post-completion price adjustments.
The ten Permian Basin fields are: Block 31, Empire/Yeso, SELea,
Brown Bassett, Block16/Coy Waha, Spraberry, Wilshire, North Misc,
Pegasus, Delaware Penn in Texas and south-east New Mexico.
Included in the sale of such interests are the two BP-operated
gas processing plants at Block 31 and Crane and non-operated
interests in the Terrell gas processing facility. Net production
from these assets are approximately 15,100 barrels of liquids per
day and 80 million cubic feet of gas per day. Approximately 126
million barrels of oil equivalent of net proved reserves and 148
million barrels of oil equivalent of net resources are associated
with these assets.
Sale
of Western Canadian upstream gas assets 、〔油田開発の〕探査段階の
The total
consideration payable for the Western Canadian gas assets is US$3.25 billion, subject to customary
post-completion price adjustments. Approximately 214 million
barrels oil equivalent of net proved reserves and 1,368 million
barrels oil equivalent of net resources are associated with these
assets.
The upstream Western Canadian gas business has net production of
240 million cu ft of gas per day and 6,500 barrels of liquids per
day. The producing assets that are included, both operated and
non operated, are managed by the following Operating Areas: Noel,
Ojay, Chinchaga, Wapiti, Fox Creek, Edson, Marten Hills, South
West and St. Lina. Also included is the proposed Mist Mountain
coal bed methane project.
Sale
of Western Desert business concessions and East Badr El-din
exploration concession in Egypt
The total consideration payable for the Western Desert business
concessions and East Badr El-din exploration concession is US$0.65 billion, subject to customary
post-completion price adjustments.
In Egypt, the net
production of the assets being sold is approximately 6,016
barrels of oil per day and 11 million cubic feet of gas per day.
Approximately 20 million barrels of oil equivalent of net proved
reserves and 55 million barrels of oil equivalent of net
resources are associated with these assets. The sale includes the
East Badr El-din concession where BP has an exploration licence
with a 100 per cent interest and BP's interests in the Western
Desert business concessions.
The effective date for each of the transactions is 1 July 2010.
Various governmental and regulatory consents are required for
each of the transactions to complete. The sale of the Permian
Basin assets in Texas and south-east New Mexico will require
antitrust clearance under the Hart-Scott-Rodino Act. The consents
required for the sale of the Western Canadian gas assets include
Canadian antitrust approval as well as consent under the
Investment Canada Act and National Energy Board approval. The
sale of the Western Desert business concessions and East Badr
El-din exploration concession are subject to approvals from the
Egyptian General Petroleum Corporation and Egypt's Ministry of
Petroleum.
Completion of each of the sales is also subject to customary
closing conditions, including that there have been no breaches of
the representations and warranties given by BP for such sale that
would at closing of such sale constitute a material adverse
effect on the ownership, operations or value of the relevant
assets.
Note to editors
* BP's commitments to its Gulf of Mexico activities have resulted
in a number of changes to the Group's financial plans. These
include suspension of 1st, 2nd and 3rd quarter 2010 interim
dividends in 2010, a significant reduction in capital expenditure
as well as acceleration in its divestment programme, focusing
mainly on non-core upstream assets.
* The Permian Basin assets came into BP's North America Gas
business in 2000 as part of the ARCO acquisition.
* Not included in any of these sales are BP's Canadian interests
in the following: Kirby and Leismer gas fields; natural gas
liquids (NGLs); Arctic exploration and Mackenzie Delta assets;
oil sands (Sunrise, Terre de Grace, Kirby); St Lina heavy oil and
the North America Gas trading business.
* BP has been in the Western Desert, Egypt, since the early
1970s. The current concession terms for the Western Desert were
renegotiated in 2005. Under the revised terms, the concession
expires in 2024 (with an option for the contractor to extend it
for five additional years). The concession includes the use of
the Dashour LPG plant as well as the related gas pipelines.
* Standard Chartered acted as BP's advisers.
ーーーーーーーーーーー
Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids.
We have exploration and production operations in six countries, comprising seven regions: the Gulf Coast and Central regions in the United States, Canada, Egypt, the North Sea, Australia and Argentina. We have exploration interests in Chile located adjacent to our Argentine operations in Tierra del Fuego. We have achieved a critical mass in each of our producing regions that support sustainable, lower-risk, repeatable drilling opportunities. This enables us to pursue higher-risk, higher-reward exploration primarily in our international regions, particularly our growth areas of Australia, Canada and Egypt. Our acreage positions, which include 39 million gross acres across the globe, also bring ample growth opportunities.
Apache’s Central Region spans the Permian Basin of West Texas and New Mexico, the Anadarko Basin in western Oklahoma and the Texas Panhandle, and East Texas.
時価総額で米最大の独立系石油会社。
アパッチはＢＰのアラスカ事業の権益を含む資産を120億ドル（約１兆640億円）弱で買収する方向で交渉中とされていた。
７月19日（ブルームバーグ）：英石油会社ＢＰが米同業のアパッチに米アラスカ州プルドー湾の油田権益の半分を売却する交渉が、先週末、２回にわた り行き詰まったことが分かった。関係者によると、ＢＰとアパッチの交渉は16日夜に行き詰まった。17日に再開されたものの、資産価値の評価や現在および将来に法的責任を問われた 場合の対応などをめぐり、18日朝に交渉は再び暗礁に乗り上げたという。
アパッチがプルドー湾の権 益の半分を現金100億−110億ドル（約8700億−9600億円）でＢＰから取得することで合意に向かっていると語っていた。
本年4月15日に石油・ガス探査会社の米マリナー・エナジーを約２７億ドルで買収すると発表した。
Apache Gains Strategic Position in Deepwater Gulf With Mariner Merger
HOUSTON, April 15, 2010 /PRNewswire via COMTEX News Network/ -- Apache Corporation (NYSE, Nasdaq: APA) and Mariner Energy (NYSE: ME) today announced that they have entered into a merger agreement that will combine Apache's global reach and resources with Mariner's track record of successful deepwater exploration and its resource potential.
"This is a strategic step and a natural extension into the deepwater Gulf for Apache," said G. Steven Farris, Apache's chairman and chief executive officer. "Mariner provides an exciting new platform for growth in the deepwater and complements our strengths in the Gulf Shelf and the Permian Basin. Based on our experience working with the Mariner team, we also believe the two companies will make an excellent cultural fit."
"The combination with Apache is an excellent outcome for Mariner's stakeholders. Our shareholders will be rewarded for their faith and support in our company with the opportunity to further benefit from the upside provided from the merger. Our partners will work with a world-class company with the financial and technical resources to fully exploit our assets. Our employees will benefit from the opportunities provided in a large company with values similar to Mariner's," said Scott D. Josey, Mariner's chairman, chief executive officer and president.
Under the agreement, Mariner shareholders will receive, in aggregate, 0.17043 of a share of Apache common stock and $7.80 in cash for each outstanding share of Mariner's common stock, subject to an election feature and proration. At Apache's closing stock price of $108.06 on April 14, 2010, the transaction values Mariner's shares at $26.22 per share or approximately $2.7 billion. Apache also will assume $1.2 billion in debt.
OKLAHOMA CITY, June 10, 2010 /PRNewswire via COMTEX/ --Devon Energy Corporation (NYSE: DVN) today announced that it has completed the previously announced sale of its Gulf of Mexico shelf assets to Apache Corporation for $1.05 billion, or approximately $840 million after tax. The agreement covers Devon's interests in approximately 150 blocks located offshore Texas, Louisiana and Alabama. The effective date of the sale was January 1, 2010.
"This transaction, coupled with the recent close of the sale of our deepwater assets, essentially completes Devon's exit from the Gulf of Mexico," said John Richels, Devon's president and chief executive officer.
On November 16, 2009, Devon announced plans to divest its Gulf of Mexico and international assets to allow the company to focus on its world-class North American onshore assets.
Devon Energy Completes Sale of Panyu Field in China 南シナ番禺油田
OKLAHOMA CITY, June 18, 2010 /PRNewswire via COMTEX/ --Devon Energy Corporation (NYSE: DVN) today announced that it has completed the sale of its Panyu field located offshore China to China National Offshore Oil Corporation for $515 million, or approximately $370 million after tax. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels of oil per day.
Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is a leading U.S.-based independent oil and gas producer and is included in the S&P 500 Index.
2006年12月14日
中国海洋石油有限公司（0883@HK）は１３日、親会社の中国海洋石油総公司が米国デボンエナジーと、深海鉱区の６４／１８、５３／３０の契約エリアについて２つの生産分与契約（ＰＳＣ）を締結したと発表した。Devon Energy Announces $7.0 Billion of Property Sales and Oil Sands Joint Venture
OKLAHOMA CITY, March 11, 2010 /PRNewswire via COMTEX/ -- Devon Energy Corporation (NYSE: DVN) today announced that it has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 billion. In addition, BP will assume Devon's leases of the Seadrill West Sirius and Transocean Deepwater Discovery drilling rigs for the duration of the contract terms. The company also announced that Devon and BP will form a heavy oil joint venture to develop BP's Kirby oil sands leases in Alberta, Canada.
"These sales, combined with our previously announced divestitures of $1.3 billion of deepwater Gulf of Mexico assets, put Devon well on the way to completing its strategic repositioning," said Larry Nichols, Devon's chairman and chief executive officer. "Given any reasonable sales price for Devon's remaining divestiture assets, the transactions to date suggest that our total after-tax proceeds for the entire divestiture program will exceed our previously announced range of $4.5 to $7.5 billion."
HOUSTON, June 10, 2010 Apache Corporation said today that it has completed its previously announced acquisition of Devon Energy Corporation's oil and gas assets in the shallow waters of the Gulf of Mexico Shelf for $1.05 billion. Apache estimated net proved and probable reserves of 83 million barrels of oil equivalent at year-end 2009.
The properties are projected to produce 9,500 barrels of liquid hydrocarbons and 55 million cubic feet of gas per day (net) after closing - the same balance of liquids and natural gas in Apache's current worldwide production. About half of the estimated proved reserves of 41 million barrels equivalent are oil and natural gas liquids.
The acquired assets comprise 477,000 net acres across approximately 150 blocks. Virtually all of the production is located in fields in waters less than 500 feet deep.
Seven major field areas hold 90 percent of the proved reserves. Apache will operate 75 percent of the production. Based on initial evaluation, Apache has identified 79 recompletion opportunities and 26 drilling prospects across the acquired assets.
Additional information about this transaction is posted on Apache's Web site, www.apachecorp.com, along with other announcements, updates, investor information and copies of all press releases.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina.
2010年3月12日 6時53分
［ロンドン/ニューヨーク 11日 ロイター］ 英石油メジャーのBPは11日、米デボン・エナジーから、ブラジル、アゼルバイジャン、およびメキシコ湾の石油資産を総額70億ドルで買収すると発表した。
July 19 2010
BP Signs Agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to Amend the North Alexandria and West Mediterranean Deepwater Concessions
英石油大手ＢＰは２０日、エジプト北部の地中海深海にある大規模ガス油田の開発で同国政府およびエジプト石油公社（ＥＧＰＣ）と合意したと発表した。投資額は９０億ドル。
BP has announced that it
has signed a new agreement with the Egyptian Ministry of
Petroleum and the Egyptian General Petroleum Corporation to
develop the significant hydrocarbon resources in the North
Alexandria and West Mediterranean Deepwater concessions.
Production from the West Nile Delta development is projected to
reach up to 1 billion cubic feet per day, providing a major new
source of gas for the domestic market in Egypt. The first phase
will develop an estimated 5 trillion cubic feet of gas and
associated condensate through subsea development of five offshore
fields into a new purpose-built onshore gas plant on Egypt’s Mediterranean coast. First gas
is expected in late 2014. The new agreement amends the commercial
terms and the governance structure for the two concessions
located in the West Nile Delta, enabling BP and its partner RWE
Dea to proceed with development.
“This
agreement unlocks a new phase in realizing the huge potential of
the Nile Delta basin, which will play an important role in
meeting regional energy security needs in the coming decades,”
said BP Chief
Executive Tony Hayward. “BP and EGPC have a long-standing
and successful partnership, and the agreement we signed today
takes that to a new level in developing these deepwater
resources, as well as creating an important source of future
growth for BP.”
Hesham Mekawi,
President of BP Egypt, commented: “This is a very important project
that is set to unlock a strategic gas resource in the West Nile
Delta area, which is significant for Egypt’s energy supply today and the
future. The investment in this project, estimated to be $9
billion gross, will reinforce Egypt’s importance as a major source of
future oil and gas production.”
The scale of
investment and activities of the West Nile Delta Project is
expected to create thousands of job opportunities during the
different project phases and will significantly contribute to the
growth of petroleum-related industries in Egypt.
Note to editors
* BP operates and holds 60% of the North Alexandria concession
with RWE Dea holding the remaining 40%
* BP operates and holds 80% of the West Mediterranean Deepwater
concession with RWE Dea holding the remaining 20%
* The North Alexandria and West Mediterranean Deepwater
concessions are located in the Mediterranean, offshore of the
city of Alexandria
* BP Egypt has made a number of discoveries in these concessions
including the Giza, Taurus, Libra, Fayoum and Ruby in the
Pliocene, and the Raven discovery in the deeper Miocene
formations
* BP’s operations in Egypt span almost
50 years
* To date, BP Egypt, in collaboration with the Gulf of Suez
Petroleum Company, BP’s JV Company with the Egyptian
General Petroleum Company, has been responsible for the
production of almost 40% of Egypt’s entire oil production. BP and
its partners are currently producing close to 35% of the domestic
gas demand
* BP Egypt has invested more than $17 billion to date, making BP
the single largest foreign investor in the country