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Updated: 12/1/2009 4:01 PM					Sponsored by:
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Apache buys Permian Basin properties for $181.1M

By Associated Press
June 3, 2009 | Comments (0)

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Oil and gas company Apache Corp. on Wednesday said it has completed its acquisition of nine Permian Basin oil and gas fields from Marathon Oil Corp.

Apache paid $181.1 million for the properties which currently yield net production of 3,500 barrels of oil equivalent per day, the company said. Apache Corp. acquired Marathon's company-operated assets in Lea County, N.M. and three Texas counties, plus Marathon's interests in an area of Pecos County, Texas. The deal was first announced April 30.

Shares of the company slid $4.01, or 4.7 percent, to $81.58.

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