Apache Corp. plans to sell some oil and gas properties in southern Louisiana and the Anadarko Basin in Texas and Oklahoma for roughly $1.4 billion.
Apache did not name the buyers for the properties.
The company described the Louisiana properties as “mature fields” with high decline rates and short reserve lives. The Louisiana wells produced the equivalent of 21,000 barrels of oil per day, with 62 percent of production gas and natural gas liquids, during the third quarter.
The Anadarko wells produced the equivalent of 26,000 barrels of oil per day, with 83 percent of production gas and natural gas liquids.