Deal Insight

Apache sells its Australian E&P operations to private equity for US$2.1 billion

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Report summary

Apache has agreed to sell its Australian subsidiary to a consortium comprised of Macquarie Capital and Brookfield Asset Management. The US$2.1 billion purchase price is broadly in line with our valuation of US$2.3 billion (NPV 10, January 2015). The deal covers all of Apache's upstream business, which includes a mix of oil and gas producing assets, along with technical resources, significant infrastructure, and a large exploration position.

What's included

This report contains

  • Document

    Apache sells its Australian E&P operations to private equity for US$2.1 billion

    PDF 502.87 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Gas contract will provide growth opportunity
    • Exploration / Technicals
    • Investment is required to provide growth
    • Apache
    • Macquarie Capital & Brookfield Asset consortium
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

Images

  • Apache's net contracted gas vs production*
  • Apache Australian acreage portfolio

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