Apache Snatches Up Exxon's North Sea Assets
Apache has bee working hard to to expand their assets and increase their production. Their most recent step has been their imminent purchase of Exxon’s North Sea assets. How will this better Apache’s numbers? Christopher Helman digs deeper into what this acquisition means for Apache.
"…Analysts at Tudor, Pickering & Holt weren’t terribly enthusiastic about the deal, noting this morning that the acquisition amounted to a price of $61,000 per flowing barrel versus the $57,000 per flowing barrel that Apache’s current market valuation implies. The deal does however look accretive to cashflow, they wrote, priced at 2.7 times cashflow versus Apache’s overall 3.6 times…"
Find additional research here: http://turnkeyoil.com/2011/09/26/apache-snatches-up-exxons-north-sea-assets/