Apache’s holdings in Australia are focused offshore Western Australia in the Carnarvon, Exmouth, and Browse basins, with production operations in the Carnarvon and Exmouth basins. Apache has operated in the Carnarvon basin since acquiring the gas processing facilities on Varanus Island and adjacent producing properties in 1993. At the end of 2014, the company controlled approximately 21 million gross acres offshore Western Australia through 34 exploration permits, 18 production licenses, and 10 retention leases. During 2014, the region had net production of 21,000 barrels per day and 214 MMcf per day, contributing 9 percent of worldwide consolidated production and 13 percent of year-end consolidated proved reserves.
In December 2014 Apache Corporation announced it has agreed to sell its 13-percent interest in the Wheatstone LNG Project along with accompanying upstream oil and gas reserves, including its 65-percent interest in the Julimar/Brunello offshore gas fields and the Balnaves oil development, to Woodside Petroleum Limited. The transaction, which has an effective date of June 30, 2014, is expected to close in the first quarter of 2015 and is subject to necessary government and regulatory approvals and customary post-closing adjustments.