Offshore staff
PHOENIX, Arizona – Freeport-McMoRan Oil & Gas has completed its acquisition of certain of Apache Corp.’s interests in the deepwaterGulf of Mexico.
Following the exercise of preferential purchase rights by other working interest owners in the Lucius project, FM O&G acquired, for $919 million, 51.2% of Apache's 11.7% working interest in the Lucius oil development project, 100% of Apache's 12.5% working interest in the Heidelberg oil development project, and several exploration leases.
Following closing and the interim redetermination of equity ownership by the co-owners in the Lucius field, FM O&G owns an approximate 25.1% working interest in Lucius.
07/02/2014