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Reuters: Apache doesn’t want Shell, Exxon N. Sea assets-CEO

Thu Jul 26, 2007 8:06 PM BST

HOUSTON, July 26 (Reuters) – The chief executive of independent oil and gas exploration company Apache Corp. on Thursday said he is not interested in buying the North Sea assets put up for sale in June by Royal Dutch Shell Plc and Exxon Mobil Corp.

“Frankly, that’s not something we’d be interested in,” Steven Farris, Apache’s CEO, told analysts on a conference call to discuss the Houston-based company’s second-quarter earnings.

In June, Shell and Exxon put North Sea oil and natural gas fields with around 74,000 barrels per day of production up for sale.

Farris also said he had not heard “an awful lot of whispers” about potential mergers in the exploration and production sector.

He added, however, that he might not be “in the loop.” (Reporting by Anna Driver)
 
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