In late February 2019, sources reported that Apache is planning to divest its US Gulf of Mexico acreage, which encompasses assets in all three regions of the US GOM (Western, Central and Eastern). This follows an earlier divestment of deepwater projects that occurred in 2014, when Apache transferred stakes in its Lucius and Heidelberg development projects and 11 exploration blocks to Freeport-McMoRan for a total of US$ 1.4 billion, in order for Apache to shift its focus towards to more shallow water ventures. Apache currently holds equity in over 30 deepwater GOM leases and five producing fields. These include Desoto Canyon blocks DC 710 and DC 711, East Breaks blocks EB 158, EB 159 and EB 597 (encompassing Bilboa - a producing oilfield), Ewing Banks blocks EW 746, EW 782, EW 785, EW 826, EW 911, EW 954, EW 966 and EW 998, Garden Banks blocks GB 463 and GB 506, Green Canyon blocks GC 490 (Wide Berth - a producing gas field), GC 647, GC 691, GC 692, GC 991 and GC 992, Mississippi Canyon blocks MC 150 (Cognac - producing oilfield), MC 267, MC 268, MC 30, MC 311 (Bourbon - producing oil and gas field), MC 312, MC 357, MC 358, MC 366 and MC 573 and Viosca Knolls Block VK 873 (Einset - a producing oil and gas field). During Q3 2018, Apache's US GOM assets produced 3,037 bo/d and 10.280 MMcfg/d, down from the same quarter in Q3 2017, when the company produced 3,512 bo/d and 10.196 MMcfg/d.
Apache is planning to divest its US Gulf of Mexico acreage, which encompasses assets in all three regions of the US GOM (Western, Central and Eastern). This follows an earlier divestment of deepwater projects that occurred in 2014, when Apache transferred stakes in its Lucius and Heidelberg development projects and 11 exploration blocks to Freeport-McMoRan for a total of US$ 1.4 billion, in order for Apache to shift its focus towards to more shallow water ventures. Apache currently holds equity in over 30 deepwater GOM leases and five producing fields. These include Desoto Canyon blocks DC 710 and DC 711, East Breaks blocks EB 158, EB 159 and EB 597 (encompassing Bilboa - a producing oilfield), Ewing Banks blocks EW 746, EW 782, EW 785, EW 826, EW 911, EW 954, EW 966 and EW 998, Garden Banks blocks GB 463 and GB 506, Green Canyon blocks GC 490 (Wide Berth - a producing gas field), GC 647, GC 691, GC 692, GC 991 and GC 992, Mississippi Canyon blocks MC 150 (Cognac - producing oilfield), MC 267, MC 268, MC 30, MC 311 (Bourbon - producing oil and gas field), MC 312, MC 357, MC 358, MC 366 and MC 573 and Viosca Knolls Block VK 873 (Einset - a producing oil and gas field). During Q3 2018, Apache's US GOM assets produced 3,037 bo/d and 10.280 MMcfg/d, down from the same quarter in Q3 2017, when the company produced 3,512 bo/d and 10.196 MMcfg/d.