* Concho says BP exercised certain purchase rights
* Concho believes relates to $400 mln of New Mexico assets
* Apache expects to be eventual owner of assets
(Adds (Marbob) to clarify quote, paragraph 4)
NEW YORK, July 30 Oil and gas company Concho
Resources Inc (CXO.N) said on Friday that BP Plc (BP.L) has
exercised preferential purchase rights for a portion of
Concho's recent $1.66 billion deal for privately held Marbob
Preferential purchase rights generally give a company the
opportunity to match a value paid for an asset. Concho said it
believed that BP was exercising its right for $400 million of
Marbob properties in the Permian basin, predominantly on the
New Mexico shelf.
Apache Corp (APA.N) expects to be the eventual owner of the
properties, according to that company's spokesman, Bill Mintz.
BP agreed to sell $7 billion of assets to Apache, including its
position in the Permian basin, on July 20, the same day as the
"BP delivered a valid preferential rights claim and we
expect them (Marbob) to deliver the properties," Mintz said.
Concho said that BP has yet to provide the notifications
needed under the operating agreements for the properties. It
said Marbob and Concho have sued BP and Apache in New Mexico
state district court to compel BP to provide the notifications
BP was not immediately available for comment.
(Reporting by Michael Erman, editing by Matthew Lewis, Gary