Fieldwood Closes $3.75 Bln. Acquisition Of Apache's Gulf Of Mexico Shelf

(RTTNews) - Fieldwood Energy LLC, a portfolio company of New York-based private equity Riverstone Holdings LLC, said Monday it has closed its acquisition of Apache Corp.'s (APA) Gulf of Mexico Shelf business for $3.75 billion, based on an effective date of July 1.

The acquisition establishes Fieldwood as the owner of the largest operated asset base on the Gulf of Mexico Shelf with a leasehold comprising greater than 500 blocks and net production of about 100,000 boepd, which is 55% oil.

Fieldwood also said it successfully completed its debt syndication efforts resulting in a debt structure comprised of a Revolving Credit Facility, First Lien Term Loan and Second Lien Term Loan.

Citi and J.P. Morgan Securities LLC served as Joint Lead Arrangers for the First Lien Term Loan and J.P. Morgan Securities LLC and Citi served as the Joint Lead Arrangers for the Second Lien Term Loan. BofA Merrill Lynch, Deutsche Bank and Goldman Sachs also served as Joint Lead Arrangers for the debt facilities.