Apache Corp., the fourth-largest U.S. independent oil and natural gas producer by market value, is weighing a sale of its deep-water assets in the Gulf of Mexico, according to a person familiar with the matter.
With Exxon Mobil Corp. poised to lose its lead as the largest publicly traded oil producer by output, acquiring Anadarko Petroleum Corp. or EOG Resources Inc. would accelerate growth and help the company regain its lead.
Exxon Mobil Corp. and Apache Corp. will hold talks with YPF SA next month as the Argentine company nationalized in April seeks partners to step up shale oil development, said a YPF official briefed on the matter.
Oil traders are showing increasing confidence that U.S. economic growth will rebound next year as they take advantage of the widening gap between current prices of crude and contracts for delivery six months from now.
BP Plc may reach an agreement as soon as next week to sell assets including half its stake in Alaska’s Prudhoe Bay field to Apache Corp . for $10 billion to $11 billion, according to two people familiar with the matter.