Attached files
file | filename |
---|---|
8-K - FORM 8-K - APACHE CORP | h74840e8vk.htm |
EX-4.2 - EX-4.2 - APACHE CORP | h74840exv4w2.htm |
EX-1.1 - EX-1.1 - APACHE CORP | h74840exv1w1.htm |
EX-1.2 - EX-1.2 - APACHE CORP | h74840exv1w2.htm |
EX-3.1 - EX-3.1 - APACHE CORP | h74840exv3w1.htm |
EX-99.1 - EX-99.1 - APACHE CORP | h74840exv99w1.htm |
Exhibit 5.1
Texas
|
Bracewell & Giuliani LLP | |
New York
|
711 Louisiana Street | |
Washington, DC
|
Suite 2300 | |
Connecticut
|
Houston, Texas | |
Seattle
|
77002-2770 | |
Dubai |
||
Kazakhstan
|
713.223.2300 Office | |
London
|
713.221.1212 Fax | |
bgllp.com |
July 28, 2010
Apache Corporation
2000 Post Oak Boulevard
Suite 100
Houston, Texas 77056-4400
2000 Post Oak Boulevard
Suite 100
Houston, Texas 77056-4400
Ladies and Gentlemen:
We have acted as special counsel to Apache Corporation (the Company), a Delaware
corporation, in connection with the Companys offerings pursuant to an automatic registration
statement on Form S-3 (No. 333-155884) (the Registration Statement) of:
(i) 26,450,000 shares (the Shares) of the Companys common stock, par value
$0.625 per share (the Common Stock), pursuant to the common stock prospectus
supplement dated July 23, 2010 (the Common Stock Prospectus Supplement) to the
prospectus dated December 2, 2008 (together, the Common Stock Prospectus), and
the common stock underwriting agreement dated July 22, 2010 between the Company and the
underwriters named therein (the Common Stock Underwriting Agreement) and the two
free writing prospectuses filed by the Company with the Securities and Exchange Commission
(Commission) on July 23, 2010 pursuant to Rule 433 under the Securities Act of
1933, as amended (the Pricing Term Sheets); and
(ii) 25,300,000 of the Companys depositary shares (the Depositary Shares), each
representing a 1/20th interest in a share of the Companys 6.00% Mandatory Convertible
Preferred Stock, Series D (the Preferred Securities), pursuant to the depositary shares
prospectus supplement dated July 23, 2010 (the Depositary Shares Prospectus
Supplement) to the prospectus dated December 2, 2008 (together, the Depositary
Shares Prospectus), and the depositary shares underwriting agreement dated July 22,
2010 between the Company and the underwriters named therein (the Depositary Shares
Underwriting Agreement) and the Pricing Term Sheets.
We have examined originals or copies of (a) the Registration Statement and the documents
incorporated by reference therein; (b) the Common Stock Prospectus and the Depositary Shares
Prospectus and the documents incorporated by reference therein; (c) an executed copy of the Common
Stock Underwriting Agreement and the Depositary Shares Underwriting Agreement; (d) the Pricing Term
Sheets; (e) a specimen of the certificate representing the
Apache Corporation
July 28, 2010
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July 28, 2010
Page 2
Common Stock; (f) a copy of the certificate of designations establishing the Preferred Securities
certified by the Secretary of State of the State of Delaware; (g) an executed copy of the deposit
agreement dated July 28, 2010 between the Company and Wells Fargo Bank, N.A., as depositary (the
Depositary), on behalf of all holders from time to time of the depositary receipts (the
Deposit Agreement); (h) the certificate evidencing the Preferred Securities as executed
by the Company; (i) the global depositary receipt as executed by the Company and the Depositary
(the Global Receipt); (j) copies of the Companys restated certificate of incorporation
and bylaws, each as amended to date, certified by the Secretary of State of the State of Delaware
and by the corporate secretary of the Company, respectively; and (k) such other documents and
records as we have deemed necessary and relevant for the purposes hereof. In addition, we have
relied on certificates of officers of the Company and of public officials and others as to certain
matters of fact relating to this opinion and have made such investigations of law as we have deemed
necessary and relevant as a basis hereof. In the course of such examinations and investigations,
we have assumed the genuineness of all signatures on, and the authenticity of, all documents and
records submitted to us as originals, the conformity to original documents and records of all
documents and records submitted to us as copies, and the truthfulness of all statements of fact
contained therein.
Based on the foregoing and subject to the limitations, assumptions and qualifications set forth
herein, and having due regard for such legal considerations as we deem relevant, we are of the
opinion that:
1. | The Shares have been validly issued by the Company and are fully paid and nonassessable; | ||
2. | The certificate representing the Preferred Securities has been duly delivered to the Depositary and the Global Receipt evidencing the Depositary Shares has been duly issued against deposit of the Preferred Securities in accordance with the Deposit Agreement, and the Global Receipt evidencing the Depositary Shares has been validly issued and entitles the person in whose name the Global Receipt is registered to the rights specified therein and in the Deposit Agreement; and | ||
3. | The shares of Common Stock to be issued upon conversion of the Preferred Securities will be validly issued, fully paid and nonassessable. |
Insofar as the foregoing opinion relates to the validity, binding effect or enforceability of the
Deposit Agreement, (a) we have assumed that the Company and each other party to such agreement or
obligation has satisfied those legal requirements that are applicable to it to the extent necessary
to make such agreement or obligation enforceable against it in accordance with its terms, (b) such
opinion is subject to applicable bankruptcy, insolvency and similar laws and decisions affecting
creditors rights generally and to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law),
Apache Corporation
July 28, 2010
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July 28, 2010
Page 3
including, without limitation, concepts of materiality, reasonableness, good faith and fair
dealing, and the possible unavailability of specific performance or injunctive relief, and (c) the
enforceability of any exculpation, indemnification or contribution provisions contained in the
Deposit Agreement may be limited by applicable law or public policy.
The foregoing opinion is based on and is limited to applicable New York law and the Delaware
General Corporation Law, and we render no opinion with respect to the law of any other
jurisdiction. The references to Delaware General Corporation Law in the preceding sentence include
the referenced statutory provisions as well as all applicable provisions of the Delaware
Constitution and the reported judicial cases interpreting those laws currently in effect. The
foregoing opinion is as of the date hereof, and we expressly disclaim any responsibility to update
such opinion after the date hereof.
We hereby consent to the filing of this opinion with the Commission as an exhibit to the
Registration Statement and to the references to our firm under the heading Validity of the
Securities in each of the Common Stock Prospectus Supplement and the Depositary Shares Prospectus
Supplement. By giving such consent, we do not admit that we are in the category of persons whose
consent is required under the Securities Act of 1933, as amended, or the rules and regulations
promulgated by the Commission thereunder.
Very truly yours, | ||
/s/ Bracewell & Giuliani LLP | ||
Bracewell & Giuliani LLP |