Apache To Snap Up Mariner Energy For $2.7B

Law360, New York (April 15, 2010, 12:43 PM EDT) -- Energy company Apache Corp. announced Thursday that it would purchase Mariner Energy Inc. for $2.7 billion, on the heels of news that it was buying Devon Energy Corp.'s Gulf of Mexico shelf assets for $1.05 billion.

Under the terms of the Mariner deal, Apache will also assume $1.2 billion in debt, the company said Thursday. The transaction is subject to approval by Mariner's shareholders and customary regulatory approvals, and it is expected to be completed in the third quarter of 2010.

According to Apache, Mariner shareholders...
To view the full article, register now.