Apache to Sell Selected Canadian Oil and Gas Assets for $112M
Apache Corporation (NYSE: APA) announced today it has agreed to sell certain oil and gas producing properties in Canada in two separate transactions with a combined value of US$112 million (CAN$117 million).
Apache has agreed to sell its Hatton, St. Lina, Marten Hills, Snipe Lake, Valhalla, and a portion of its Hawkeye producing properties. These are primarily dry gas developments located in Saskatchewan and Alberta and comprise approximately 4,000 operated and 1,300 non-operated wells that averaged daily production of 38 million cubic feet of natural gas and 750 barrels of oil, condensate and natural gas liquids, net to Apache, during the second-quarter 2013.
Both transactions have an effective date of April 1, 2013, and are expected to close during the fourth quarter.