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KDB acquires Texan Gas Rigs

A South Korean private equity fund led by Korea Development Bank (KDB) has acquired gas assets from US oil and gas company Apache Corp for $200 million, KDB said on Monday, wrote Reuters. The acquisition includes 490 gas rigs in East Texas.

(Reuters) – A South Korean private equity fund led by Korea Development Bank (KDB) has acquired gas assets from U.S. oil and gas company Apache Corp for $200 million, KDB said on Monday.

KDB said in a statement that its private equity fund, which includes South Korea’s top refiner SK Energy as a partner, had purchased 490 gas rigs in East Texas, jointly with U.S. Patara Oil & Gas.