Fieldwood Energy Buys Apache Corp.'s Gulf of Mexico Shelf Business for $3.75 Bln

Fieldwood Energy, which is backed by Riverstone Holdings, has acquired Apache Corp.’s Gulf of Mexico Shelf business for $3.75 billion. Fieldwood said the properties it is buying represent the largest operated asset base on the Gulf of Mexico Shelf and comprise more than 500 blocks and 1.9 million net acres. Fieldwood said it hopes to retain substantially all of Apache’s Gulf of Mexico Shelf employees. Citigroup Global Markets, J.P. Morgan, Deutsche Bank AG New York Branch, BofA Merrill Lynch and Goldman Sachs Bank USA are providing financing.

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