Apache Wins FERC Go Ahead In $3.75B Gulf Oil Sale

Law360, Los Angeles (September 16, 2013, 8:50 PM ET) -- The Federal Energy Regulatory Commission on Monday helped pave the way for Apache Corp.'s sale of $3.75 billion in offshore assets in the Gulf of Mexico to a unit of private equity firm Riverstone Holdings LLC, granting the companies' joint petition for temporary waivers of the commission's capacity release regulations.

FERC's decision granting Apache and Riverstone unit Fieldwood Energy LLC's Aug. 1 joint petition temporarily frees the companies from the commission's anti-tying regulations and applicable rate and bidding provisions, allowing them to pursue a smooth transfer...
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