Apache closes $2.1 bln sale of Australian operations to Brookfield, Macquarie

U.S. oil and gas company Apache Corp (NYSE, Nasdaq: APA) has completed the previously announced sale of its Australian subsidiary Apache Energy Ltd to a consortium of private equity funds managed by Brookfield Asset Management and Macquarie Corporate Holdings. The transaction had a total value of about US$2.1 billion, or US$1.9 billion net of US$225 million in post-closing adjustments. The sale’s effective close date was October 1, 2014.

PRESS RELEASE

Apache Corporation Completes Sale of Australian Operations

HOUSTON, June 5, 2015 /PRNewswire/ — Apache Corporation (NYSE, Nasdaq: APA) today announced it has completed the previously disclosed sale of its Australian subsidiary Apache Energy Limited to a consortium of private equity funds managed by Macquarie Corporate Holdings Limited and Brookfield Asset Management Inc. (NYSE: BAM) (TSX: BAM.A) (Euronext: BAMA). Total proceeds of $1.9 billion are net of $225 million in customary, post-closing adjustments for the period between the effective date, October 1, 2014, and closing.

About Apache

Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt and the United Kingdom. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com, and on its Media and Investor Center mobile application, which is available for free download from the Apple App Store and the Google Play Store.

Forward-looking statements

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SOURCE Apache Corporation

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