Sun, Mar 1, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Investment, Oil more

Looking for the next mega oil play

Posted on 06 September 2013

News came out last week that Apache is divesting a big chunk of its Egyptian oil acreage. The company will sell one-third of its rights there to Sinopec for $3.1 billion.
Most analysts assume that Apache’s divestment is driven by recent political problems in Egypt. But the company’s moves elsewhere suggest the deal may be part of a larger, and more interesting, trend. In July, Apache cut a deal to divest another of its core operating areas: the U.S. Gulf of Mexico Shelf. The major sold this acreage to privately-held Fieldwood Energy, for $3.75 billion………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39433 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
March 2015
S M T W T F S
« Feb    
1234567
891011121314
15161718192021
22232425262728
293031