Apache Seals Amoco Deal: Apache Corp. will...
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From Times Staff and Wire Reports
Apache Seals Amoco Deal: Apache Corp. will buy properties from Amoco Production Co., an Amoco unit, in a $542.5-million deal that will double Apache’s oil and gas reserves. Apache will pay Amoco $515 million, 2 million shares of Apache stock and other considerations to acquire the unit that Amoco recently formed for the sole purpose of selling it. Apache stock closed at $13.75 per share, making the 2 million shares worth $27.5 million.
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