Newfield, Devon and Apache hold oil and gas reserves that are among the lowest valued by investors in energy companies on the Standard & Poor's 500 index, according to data compiled by Bloomberg.
To unlock value, Newfield shifted its focus on North American liquids and planned to divest their offshore assets located in GoM (completed in Oct-2012), Malaysia (announced) and China.
Apache, has completed/announced sale of $7.2 billion of assets through a series of rapid transactions during Q3-2013. Approximately, $4.73 billion realized from the asset divestitures of GoM Shelf and Western Alberta, and $3.1 billion Egypt asset sale to Sinopec is underway.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.