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Posted by Ocean News
Apache Corporation (NYSE, Nasdaq: APA) has announced that it has completed the previously disclosed sale of non-operated interests in the Lucius and Heidelberg development projects and 11 primary term deepwater exploration blocks to a subsidiary of Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and other interest owners for $1.4 billion. Certain working interest owners in the Lucius oil development exercised their preferential rights to purchase their pro-rata share of Apache's interests in Lucius on the same terms as those negotiated by Freeport-McMoRan.
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