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Apache Wraps Up Mariner Acquisition For Total $4.3B

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November 10, 2010

Extending its reach into the deepwater Gulf of Mexico and broaden its footprint on the Gulf shelf, the Permian Basin and Rockies oil shales, Apache Corp., Houston, (NYSE, Nasdaq: APA) has completed its acquisition of Mariner Energy Inc., Houston, (NYSE: ME) for $4.3 billion in cash, stock and debt assumption.

Apache paid 0.17043 share and $7.80 in cash per Mariner share. Based on Apache's stock price of $110.20 on Nov. 10, the company issued 17.5 million shares valued at $1.9 billion, paid $800 million in cash and assumed $1.6 billion ...

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