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Of the 56 companies submitting bids for GoM acreage, Apache was ranked number one overall for its 61 high bids on the shelf, while Apache Deepwater LLC, the company's deepwater arm, was ranked number four overall with 29 high bids.
The sum of the combined high bids was nearly $96 million gross.
G. Steven Farris, Apache chairman and chief executive officer commented, "The GoM is integral to Apache's long-term growth. The shelf provides some of the best margins, highest returns and most free cash flow, and the deepwater has some of the best exploration potential of any region in our global portfolio."
"This was a very robust lease sale with premium acreage," said Jon Jeppesen, executive vice president of Apache's GoM regions. "These blocks strengthen our position on the shelf and in the deepwater. In both areas, Apache has the fiscal wherewithal, technical prowess and experience to capture the value of these opportunities."