Apache acquires producing properties in Permian Basin and South Texas

Jul 05, 2000 02:00 AM

Apache announced that it has completed is previously announced acquisition of long-lived producing properties in the Permian Basin and South Texas from Collins & Ware, for $ 320.3 mm.
The assets have proved reserves of approximately 496 bn cf of gas equivalent, of which one-third is liquid hydrocarbons. In addition, probable reserves are estimated at 151 bn cf. Current net production is approximately 40 mm cf of natural gas and 4,000 bpd of liquid hydrocarbons. The transaction was effective June 1.

Apache is a large oil and gas independent with operations in the United States, Canada, Egypt, Western Australia, Poland and China.

Source: Apache Corp. via Newspage
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