Deal insight

Freeport-McMoRan acquires Apache's interest in deepwater GoM assets for US$1.4 billion

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Report summary

Freeport McMoRan Copper & Gold (FCX) is to acquire Apache's interests in the Lucius (11.7%) and Heidelberg (12.5%) assets and 11 exploration leases in deepwater GoM for a consideration of US$1.4 billion. Wood Mackenzie's valuation is US$1.85 billion (including tax benefits to FCX) with the standalone asset valuation for the Lucius and Heidelberg stakes contributing US$1.42 billion implying an attractive offering price for FCX.

What's included

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    Freeport-McMoRan acquires Apache's interest in deepwater GoM assets for US$1.4 billion

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 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

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