Apache Corp. has exited its Oklahoma shale position in divestitures with two private-equity backed E&Ps as the Permian Basin remains Apache’s primary focus in the U.S.
Last week, the Houston-based oil and gas company said it had completed the sale of noncore assets that reflected Apache’s exit from the Western Anadarko Basin and Scoop/Stack play. The divestitures were made through two separate transactions—one in May and the other in July—and comprised $612 million in net proceeds.
Though Apache didn’t reveal who purchased its assets, on July 23, Presidio Petroleum LLC revealed itself as the buyer of the company’s Western Anadarko position. According to a report by BMO Capital Markets, newly-formed Red Wolf Natural Resources LLC was the buyer of Apache’s earlier divestiture that closed in May.