Apache Corp. pays $1.05 billion for Devon Energy’s assets in Gulf of Mexico

Apache buys Devon’s assets in Gulf of Mexico

HOUSTON — Apache Corp. says it will buy oil and gas assets in the Gulf of Mexico from Devon Energy Corp. for $1.05 billion.

The Houston oil and gas producer said Monday that the properties should produce 9,500 barrels of oil and 55 cubic feet of gas per day. The deal, paid mostly in cash, is expected to close in June.

The acquisition is one of several major deals currently rolling through the energy industry.

ConocoPhillips also announced Monday that it would sell its stake in Canadian oil sands company Syncrude for nearly $5 billion.

And Energy providers Mirant Corp. and RRI Energy Inc. said over the weekend that they planned to combine in a $1.61 billion stock-swap deal.