Apache to Sell Selected Canadian Oil and Gas Assets for $112M

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Apache Corporation
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.
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Posted In: NewsGuidanceContractsAsset SalesManagementGlobal
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