Apache to sell Lucius and Heidelberg Gulf of Mexico developments
Apache is to sell its non-operated interests in the Lucius and Heidelberg development projects and 11 primary term deepwater exploration blocks in the Gulf of Mexico to a subsidiary of Freeport-McMoRan Copper & Gold for $1.4bn.
The Lucius unit comprises Keathley Canyon blocks 874, 875, 918 and 919, and the company’s working interest is 11.7%. The Heidelberg unit includes Green Canyon blocks 859, 903, 904 and 948 and the company holds a 12.5% working interest. Apache’s working interest in the 11 primary term blocks ranges from 16.67% to 60%.
