Apache To Sell Certain Canadian Energy Assets For $112 Mln. - Quick Facts

(RTTNews) - Oil and gas company Apache Corp. (APA) Tuesday agreed to sell certain oil and gas producing properties in Canada in two separate deals with a combined value of $112 million (C$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 mainly dry gas developments located in Saskatchewan and Alberta and comprise about 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.

Both deals have an effective date of April 1, 2013, and are expected to close during the fourth quarter.

Last month, Apache announced the sale of its Nevis, North Grant Lands, and South Grant Lands assets, which are also in Alberta. Including deals involving company properties and assets in Canada, the Gulf of Mexico and Egypt, Apache has announced divestments totaling over $7 billion.