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9 Pages

Apache acquires Cordillera Energy Partners III for US$2.85 billion

Apache acquires Cordillera Energy Partners III for US$2.85 billion

Report summary

Apache recently announced the acquisition of Cordillera Energy Partners III, LLC, a subsidiary of private equity investor EnCap, for US$2.85 billion in cash and stock. The deal is a bolt-on acquisition for Apache's existing operations in the Anadarko Basin (US Mid-Continent). CEP III holds 254,000 net acres prospective for several productive formations, including the Granite Wash, Tonkawa, Cottage Grove, Marmaton, Cleveland, Skinner and Atoka. The acquired assets currently produce at ...

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  • Apache acquires Cordillera Energy Partners III for US$2.85 billion PDF - 905.93 KB 9 Pages, 7 Tables, 2 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
    • Granite Wash
    • Tonkawa, Marmaton and Cleveland
  • Deal analysis
    • Unit metrics
  • Upsides and risks
    • Multiple productive horizons
    • Natural gas option
    • Liquids-rich and oil producing formations
    • Heterogeneity across the region
    • Supply chain bottlenecks
  • Strategic rationale
    • Apache
    • Cordillera
  • Oil & gas pricing and assumptions

In this report there are 9 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Areas of current development in the western Anadarko Basin
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
    • Wood Mackenzie drilling assumptions and Deal IRR sensitivity to oil price
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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