Former Apache president’s new company, Apex International Energy, opens offices in Houston & Cairo

apexApex International Energy, which was founded by the former president of Apache Corp. earlier this year, announced that it opened offices in Houston and Cairo, Egypt. Both offices are about 6,000 square feet, and the company is prepared for future growth, Glenn Joyce, director of human resources and administration said. Apex has a staff of nine in its Houston office and eight in Cairo, and it will add another employee at each location in the coming weeks.

“With significant funding in place and the launch of our two offices, Apex is now in a position to acquire and develop (exploration and production) assets,” Apex CEO and founder Roger Plank said in an Oct. 25 press release. “We have made Egypt our top priority place to invest and are actively involved in the current concession bidding round and evaluating a number of interesting acquisition opportunities. We are pleased with the level of interest that has been shown in Apex to date and look forward to building a substantial E&P business.”

In May, Apex received an initial line-of-equity commitment of up to $500 million from affiliates of Warburg Pincus Private Equity XII LP and Warburg Pincus Energy LP. The company plans to initially focus on Egypt and then expand into other countries in the Middle East and North Africa as opportunities present themselves.

In addition to Plank, who retired from Houston-based Apache in 2014, serving as CEO, Apex’s leadership includes President and COO Thomas Maher, who most recently served as Apache’s region vice president and country manager in Egypt.

“The Apex International Energy founders have an unparalleled track record of creating value in the energy sector of Egypt,” Somit Varma, managing director at New York-based Warburg Pincus and an Apex board member, said in a May press release. “It is a highly-experienced team that we believe can create a business of scale taking advantage of the opportunities available in the current commodity market environment. We look forward to working closely with the team as they pursue their growth-oriented strategy.”

(Source: Houston Business Journal)

PRESS RELEASE:
APEX INTERNATIONAL ENERGY OPENS OFFICES IN CAIRO AND HOUSTON

Apex International Energy, a new independent oil and gas exploration and production company focused on Egypt, is pleased to announce that it has opened offices in Cairo, Egypt and Houston, Texas.

Apex International Energy plans to build an exploration and production business of scale through asset acquisitions and capital investments in drilling, infrastructure and production enhancement to deliver long-term profitable growth in production and reserves. Apex International Energy will also pursue farm-in transactions and participate in new concession bid rounds. Apex has a clear focus on Egypt and over time may expand into other countries in the Middle East and North Africa as attractive opportunities present themselves.

Roger B. Plank, founder and Chief Executive Officer of Apex International Energy, commented, “With significant funding in place and the launch of our two offices, Apex is now in a position to acquire and develop E&P assets. We have made Egypt our top priority place to invest and are actively involved in the current concession bidding round and evaluating a number of interesting acquisition opportunities. We are pleased with the level of interest that has been shown in Apex to date and look forward to building a substantial E&P business.”

Thomas M. Maher, President and Chief Operating Officer of Apex International Energy, said, “I am delighted that we are now present on the ground with local and growing teams in Cairo and Houston, two of the most important cities in the global oil and gas industry. We are currently working closely with government and local third parties in Egypt as we take an active role in developing our business and network of relationships in the region. We believe that our strong team, excellent technical skills and commitment to Egypt will position us as a partner of choice.”

About Apex International Energy

Apex International Energy is a new independent oil and gas exploration and production company focused on Egypt backed by Warburg Pincus, a global private equity firm focused on growth investing. Apex International Energy plans to build an exploration and production business of scale through asset acquisitions and capital investments in drilling, infrastructure and production enhancement to deliver long-term profitable growth in production and reserves. Apex International Energy will also pursue farm-in transactions and participate in new concession bid rounds.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. For more than two decades, Warburg Pincus has invested or committed over $13 billion across more than 75 energy investments around the world with a focus on upstream, midstream and downstream oil and gas; energy services and technology; power generation and transmission; alternative energy and renewables; and mining and metals. Notable investments include Antero Resources, Bill Barrett Corporation, Broad Oak Energy, Encore Acquisition Company, Kosmos Energy, Laredo Petroleum, MEG Energy, Newfield Exploration, Spinnaker Exploration and Targa Resources.

(Apex International Energy Press Release)

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One thought on “Former Apache president’s new company, Apex International Energy, opens offices in Houston & Cairo

  1. NO DOUBT – MONEY IS DOING THE TALKING AND FORMING OF A NEW COMPANY – TWO OFFICIES – NO CONTRACTS – JUST TONS OF MONEY – MONEY ALWAYS TALKS THELOUDEST.

    Like

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