Gardere Represents BP In Asset Sale to Apache

12 August 2010 News

Gardere Wynne Sewell LLP represented BP in the sale of oil and gas assets in the Permian Basin of West Texas and New Mexico to Apache Corporation for $3.1 billion that closed Aug. 10, 2010.

Apache acquired 10 Permian field areas and two operated gas processing plants. The Permian transaction was entered into on July 20 together with separate agreements by BP with Apache to sell oil and gas assets in Egypt's Western Desert and western Alberta and British Columbia in Canada. Including Permian, the three transactions aggregated $7 billion.

Completion of Apache's acquisition of BP assets in Canada and Egypt remains subject to customary regulatory approvals and conditions.

BP was represented in connection with the Permian transaction by Gardere Wynne Sewell's Houston office, with a team led by Partners Doug Eyberg and Tim Spear, and assisted by Partners Jane Hammond and Jerry DeVault and Associates Eunice Song and Jennifer Smith.

BP's in-house team included Jens Bertelsen and Jack Cooley. BP was represented in the Canadian transaction by Fraser Milner Casgrain's Calgary office. CMS Cameron McKenna's London office represented BP in the Egyptian transaction.

Gardere Energy Industry Team is a multidisciplinary group of approximately 60 attorneys with diverse backgrounds, experience and skills specific to the energy industry. Our team includes attorneys who have served as in-house counsel for major energy companies, providing a depth of insight into our clients' needs, issues and concerns.

See related American Lawyer/Corporate Counsel article.

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