Apache Closes $1.5B Notes Offering
Apache has closed its previously announced offering of $1.5 billion in aggregate principal amount of 5.10 percent notes due 2040.
Net proceeds to Apache, after the underwriting discount and estimated offering expenses, were approximately $1.47 billion.
Apache used proceeds from the offering to repay borrowings under its bridge loan facility and commercial paper program, which were used to fund the purchase of BP's assets in the Permian Basin of West Texas and New Mexico in a transaction that closed Aug. 10. The Permian purchase was part of Apache's previously announced acquisition of BP's oil and gas operations, acreage and infrastructure in the Permian and Egypt's Western Desert and substantially all of BP's upstream natural gas business in western Alberta and British Columbia.
Operates 3 Offshore Rigs
- Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)