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Apache Corporation sells non-core Southern Louisiana oil and gas assets


Published Nov 24, 2014
Apache Corporation

Apache Corporation will provide an update to investors at its North American Update conference in New York.

Highlights from the Update include:

• Apache forecasts 2015 North American onshore liquids growth of 12 to 16 percent when adjusted for 2014 asset sales. On a barrel of oil equivalent (BOE) basis, the company projects 2015 North American onshore production growth of 8 to 12 percent. This forecast assumes a preliminary North American onshore exploration and production capital budget of approximately $4 billion. • The company presented a five-year compounded annual production growth outlook for onshore North American liquids of 12 to 16 percent and 8 to 12 percent on a BOE basis. • During 2014, Apache has added more than 300,000 acres of leasehold in key growth plays. • The company has substantially increased its drilling inventory in the Eagle Ford and Canyon Lime plays of Texas to more than 3,000 and 800 locations, respectively. • The company has agreed to sell non-core southern Louisiana and certain Anadarko Basin oil and gas assets for approximately $1.4 billion in two separate transactions.

Tags: Apache Corporation




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