Apache selling U.S. Gulf holdings for $3.75 billion

NEW YORK, July 18 Thu Jul 18, 2013 4:22pm EDT

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NEW YORK, July 18 (Reuters) - Apache Corp said on Thursday it will sell its Gulf of Mexico shelf assets for $3.75 billion to Fieldwood Energy LLC.

The deal, expected to close by Sept. 30, will let Apache focus more on its U.S. onshore assets.

Fieldwood, a unit of Riverstone Holdings, will also assume $1.5 billion in asset retirement obligations.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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