EnCap to Sell Cordillera Energy Partners III to Apache
January 24, 2012
EnCap Investments has entered into a definitive agreement to sell Cordillera Energy Partners III to Apache (NYSE, NASDAQ: APA) for $2.85 billion, comprised of $600 million in common shares and $2.25 billion in cash. Cordillera was formed with a $500 million equity commitment from EnCap Investments, along with other institutional investors and management, in March of 2007. Cordillera is an oil and natural gas exploration and production company.