Apache has issued 17.5 million shares of its common stock and paid about $800m in cash to Mariner shareholders. Apache has also assumed Mariner’s $1.6bn in debt.

As a result of the deal, former Mariner shareholders own about 5% of Apache’s outstanding stock.

According to Apache, 79% of Mariner’s shareholders approved the buyout. Shareholders had the option to receive cash, stock or a mix of the two.

Apache CEO Steven Farris said that the Mariner merger — along with our $7bn acquisition of BP’s upstream operating regions in the Permian Basin, Canada and Egypt and our earlier $1bn acquisition of Devon’s Gulf of Mexico Shelf assets — will provide Apache with a rich inventory of growth and value-enhancement opportunities for years to come.