Bracewell Represents Apache Corp. in $7 Billion Acquisition of BP Assets and Public Offering of Common and Convertible Preferred Shares

July 22, 2010

HOUSTON — Bracewell & Giuliani LLP is representing Apache Corporation in its acquisition of BP assets in Texas, New Mexico, Egypt, and Canada. The firm is advising Apache on multiple facets of the transaction, including contractual, financial, environmental, restructuring, regulatory, and tax matters. 

Apache has agreed to pay $7 billion for all of BP's oil and gas operations, acreage and infrastructure the Permian Basin of West Texas and New Mexico and in Egypt's Western Desert, as well as BP's upstream natural gas business in western Alberta and British Columbia.

In addition to the acquisition, Bracewell is representing Apache in two public stock offerings – an offering of 21 million shares of common stock, and a separate offering of $1.1 billion in convertible preferred stock. The underwriters for the preferred stock offering are Goldman, Sachs & Co.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; and J.P. Morgan Securities Inc.

Bracewell attorneys involved in the transactions include:

Partners: Patrick C. Oxford, G. Alan Rafte, John R. Brantley, William S. Anderson, Lance W. Behnke, Gregory M. Bopp, Stephen B. Crain, Jason B. Hutt, Mark B. Joachim, Bruce R. Jocz, Mark K. Lewis, Penelope M. Lister, W. James McAnelly, Robin J. Miles, D. Kirk Morgan, Gray H. Muzzy, Gary W. Orloff, Richard C. Rice, Aaron P. Roffwarg, Deanna F. Tillotson, Thomas M. Tomlinson, Timothy A. Wilkins

Counsel: Richard Alonso, Ian R. Brown, Kristen V. Campana, Jacqueline R. Java

Associates: John C. Adolph, Ashlie W. Alaman, Jason E. Alvarado, Matthew J. Armstrong, Eamonn K. Bakewell, Jeris D. Brunette, Keith L. Cooper, George D. Fatula, Jeffrey H. Gilbert, Scott P. Grossman, Troy L. Harder, Jessica E. Hart, Jason M. Jean, Austin T. Lee, Katherine L. Lindsay, Blair R. Loocke, Bryan E. Loocke, Scott M. Muehlberger, Ilia M. O'Hearn, Michael De Voe Piazza, Benjamin J. Rajabi, Jennifer B. Richey, Sandra Y. Snyder, Jesse D. Steele, John H. Summerford, David H. Sweeney, Chrystal J. Szeto

Bracewell's energy practice draws upon the firm’s full global resources in all areas of business law, representing domestic and international energy industry clients in matters related to operations, finance, restructuring, governmental regulation, tax, environment, governance, litigation, and strategic communications. The firm and its attorneys are recognized among top energy, M&A and capital markets counsel by ranking bodies including Chambers & Partners, and in league tables from Thomson Reuters, Bloomberg and Dealogic.