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Bracewell Represents Apache Corporation in $2.85 Acquisition of Cordillera Energy Partners

January 23, 2012

Bracewell & Giuliani LLP is serving as counsel to Apache Corp. in acquiring Cordillera Energy Partners III LLC for $2.85 billion.

The sellers are scheduled to receive approximately $600 million in Apache common stock subject to customary lock-up provisions, with the balance to be paid in cash and funded with debt. This transaction is effective Sept. 1, 2011, with closing anticipated in the second quarter of 2012, subject to customary closing conditions and regulatory approval.

Cordillera Energy Partners holds approximately 254,000 net acres in Granite Wash, Tonkawa, Cleveland, and Marmaton plays in western Oklahoma and the Texas Panhandle. Cordillera also holds estimated proved reserves of 71.5 million barrels of oil equivalent and current net production of 18,000 boe per day and 14,000 potential drilling locations in Anadarko Basin plays.