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.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Gas contract will provide growth opportunity
- Exploration / Technicals
- Investment is required to provide growth
-
Strategic rationale
- Apache
- Macquarie Capital & Brookfield Asset consortium
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- 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
- Apache's net contracted gas vs production*
- Apache Australian acreage portfolio
What's included
This report contains:
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