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Apache selling its shelf assets
Posted on 7/18/13 at 7:09 pm
Posted on 7/18/13 at 7:09 pm
Surprised no one has brought this up yet, or at least I haven't seen it.
LINK
I guess this is one way of getting around the BS gov shite.
LINK
I guess this is one way of getting around the BS gov shite.
2
Posted on 7/18/13 at 8:44 pm to GREENHEAD22
That's not a great price but not a bad price either. Overall it seems like a good move for Apache to shuck those assets and put the cash into developing something else.
Posted on 7/18/13 at 9:54 pm to GREENHEAD22
I've never heard of fieldwood? I assume they are out of Houston?
Posted on 7/18/13 at 11:35 pm to TJG210
Former dynamic CEO, riverstone backed. Apa just about met it's divestiture goal of $4B with that transaction pending closing. They're marketing a couple other props on the dl. I bought in at $72...I think they make it back over $100 (based on oil prices holding in the $95-105 range).
This post was edited on 7/18/13 at 11:39 pm
Posted on 7/19/13 at 12:28 am to TJG210
That's bc they're not an actual company yet.
Posted on 7/19/13 at 5:55 am to cwill
Isn't McCarroll the guy who bailed on ATP after a week as CEO, just before the bankruptcy?
Posted on 7/19/13 at 6:15 am to poule deau
quote:Yes.
Isn't McCarroll the guy who bailed on ATP after a week as CEO, just before the bankruptcy?
Posted on 7/19/13 at 10:11 pm to Bayou Tiger
I dont see much future in the shelf. all of the regulations and even a minor spill could really put a hurting on you.
Posted on 7/21/13 at 3:52 pm to diat150
Its damn near like working with the gestapo now, with in 10 years I see most smaller independents out of the gulf. Pretty much just the majors and the bigger mid majors will be able to afford working in the gulf.
Posted on 7/21/13 at 10:52 pm to GREENHEAD22
The market says otherwise...hell this sale says otherwise.
Posted on 7/21/13 at 11:50 pm to diat150
quote:
diat150 Apache selling its shelf assets I dont see much future in the shelf. all of the regulations and even a minor spill could really put a hurting on you.
LOL I hope you and most everyone else continues to think that. As long as oil stays 75-90 bucks a barrel many of these independents will continue making big profits on the shelf
Posted on 7/22/13 at 12:37 am to cwill
I am talking your small companies, say 10 platforms or less. I know of 3-4 right now looking to totally get out of the GOM. But then again I guess most are looking to sell for the right price.
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