Apco shareholders approve merger with Pluspetrol

Shareholders of Apco Oil & Gas International Inc., Tulsa, have approved the merger agreement in which Pluspetrol Resources Corp., Buenos Aires, will acquire Apco from WPX Energy Inc., which holds 69% interest in Apco.

Apco has interests in nine oil and gas concessions and two exploration permits in Argentina, and three exploration and production contracts in Colombia.

Apco shareholders will receive $14.50 in cash for each share of Class A and ordinary shares they own in a transaction valued at $427 million.

The consummation of the acquisition of Apco by Pluspetrol remains subject to the satisfaction or waiver of a number of customary closing conditions.