Apache Completes Sale of Argentina Assets to YPF

Apache Corporation announced it has completed the previously disclosed sale of its Argentina operations and properties to YPF Sociedad Anonima for cash payment of US $800 million plus the assumption of $52 million of bank debt as of June 30, 2013.

"This transaction essentially marks the end of a process that Apache began last year to rebalance its portfolio to focus on assets in North America that can grow more predictably combined with international assets that generate substantial free cash flow," said G. Steven Farris, chairman, chief executive and president of Apache. "Going forward, Apache is committed to visible and repeatable production growth, fiscal discipline with a rate of return focus, and safe, efficient operations."



Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Financial Analyst Job
Expertise: Accounting|Financial Analyst
Location: Denver, CO
Manager - Financial Reporting
Expertise: Accounting|Financial Analyst
Location: Houston, TX
JIB Supervisor
Expertise: Accounting
Location: Houston, TX
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours