Apache: Planting a flag in the deep GOM
Apache's acquisition of Mariner is proof that much value exists in the deepwater Gulf of Mexico (GOM). The deepwater (water depths greater than 1,000 feet) GOM is the playground of the "big boys". The costs of exploration and development in the deep water GOM are immense. This acquisition allows Apache to develop Mariners existing deepwater acreage position faster. Although Mariners expertise in the GOM is important, Apache's brings to the table experience in offshore projects in Egypt, Nile Delta and Australia. With resource plays driving most company's budgets these days, Apache steadily builds its asset base in the Gulf. Look for more consolidation in the GOM and for Apache's 2.7 billion dollar flag to multiply.
