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Gold/Mining/Energy : DRLY - Doral Energy Corp.

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May 27 1:50 PM EST

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To: Dr. Ipsofacto who wrote (29)	8/11/2010 3:46:09 PM
From: Celtictrader	of 76

Permian basin -Apache completes deal for BP's Permian assets HOUSTON \| Wed Aug 11, 2010 12:47pm EDT HOUSTON Aug 11 (Reuters) - Apache Corp (APA.N) said on Wednesday it has completed its $3.1 billion deal to buy BP Plc's (BP.L) (BP.N) oil and gas operations in the Permian Basin of West Texas and New Mexico. BP has said it plans to sell $30 billion in assets to help pay for costs related to its ruptured well in the Gulf of Mexico. The accident cost 11 workers their lives and created the world's largest marine oil spill. Apache paid $3.1 billion for the Permian properties, including a $1.5 billion deposit paid July 30 and the balance paid on closing. Some of the properties are subject to certain preferential rights. The effective date of the transaction was July 1, and BP will continue to operate the properties on Apache's behalf through Nov. 30, Houston-based Apache said. The Permian deal is part of Apache's previously announced $7 billion agreement to buy all of BP's oil and gas assets in Egypt's Western Desert and its exploration business in Canada. (Reporting by Anna Driver in Houston, editing by Dave Zimmerman)

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