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

Posted by April 8, 2015

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.
 
 
(Reporting by Sneha Banerjee in Bengaluru; Editing by Savio D'Souza)

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