Apache To Buy Exxon's North Sea Assets For $1.75B

Law360, New York (September 21, 2011, 1:21 PM EDT) -- Houston-based oil and gas exploration company Apache Corp. on Wednesday announced its proposed acquisition of Exxon Mobil Corp.'s Mobil North Sea LLC assets for $1.75 billion in cash.

The sale, which would include ExxonMobil's Beryl Field and related properties, would see the assets become part of Apache's subsidiary Apache North Sea Ltd., according to the companies.

The assets being sold have current net production of 19,000 barrels of oil and natural gas liquids and 58 million cubic feet of natural gas per day.

Apache Chairman and...
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