Apache said that its subsidiary has completed its acquisition of substantially all of BP's upstream natural gas business in western Alberta and British Columbia.
The $3.25bn transaction for the Canadian properties is the second closing of Apache’s three-part acquisition of BP assets.
Apache Canada acquired assets with estimated proved reserves of 224 million barrels of oil equivalent (boe) and first-half 2010 net production of 46,500 boe per day.
The acquisition includes 1.3 million net acres with significant positions in several emerging unconventional plays, including the Montney, Cadomin, Doig and coalbed methane.
Apache Canada has received the required approvals from the Minister of Industry under the Investment Canada Act and from the Canadian Competition Bureau under the Competition Act.
Apache Canada will take over operations of the properties on 1 November.
In August, another Apache subsidiary completed its acquisition of all of BP’s oil and gas operations, acreage and infrastructure in the Permian Basin.