Apache Exits Australia E&P Business with $2.1b Sale

U.S. oil and gas company Apache Corp said it would exit its exploration and production business in Australia by selling its unit there to a consortium of private equity funds for $2.1 billion in cash.

 

The sale of Apache Energy Ltd to a consortium of funds managed by Macquarie Capital Group Ltd and Brookfield Asset Management Inc has an effective date of Oct. 1, 2014, Apache said.