Apache Corp has been paid by state-run YPF SA for its previously announced $800 million cash deal to sell its operations in Argentina, a payment that may help the Latin American country further rebuild credibility with foreign investors."The transaction was closed and payment was made to Apache in international accounts outside Argentina," said spokesman Bill Mintz.Two years after seizing YPF, the country's biggest energy company, from Spain's Repsol SA, Argentina is working to quell concerns about economic conditions and energy policy in the South American country.Repsol last month said its board of directors had approved a $5 billion settlement with Argentina after President Cristina Fernandez expropriated 51 percent of Repsol's stake in YPF.
Apache Corporation (Apache) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids. Shares of APA fell by 0.55% or $-0.44/share to $79.11. In the past year, the shares have traded as low as $67.91 and as high as $94.84. On average, 2929340 shares of APA exchange hands on a given day and today's volume is recorded at 1785810.
YPF SA is an Argentina-based integrated oil and gas company. Shares of YPF fell by 0.21% or $-0.06/share to $28.20. In the past year, the shares have traded as low as $12.11 and as high as $34.24. On average, 1703300 shares of YPF exchange hands on a given day and today's volume is recorded at 2108897.
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