U.S. oil and gas company Apache Corp , under pressure from activist investor Jana Partners, said on Thursday it plans to sell its interest in two liquefied natural gas projects (LNG), and reported lower quarterly profit.Shares of Apache climbed nearly 4 percent in premarket trading.Apache said it intends to completely exit the Wheatstone LNG project in Australia and Canada's Kitimat LNG project. Apache is also evaluating its international assets and exploring multiple opportunities, including a potential separation, it said.Jana, which disclosed in its second-quarter update in June that it has a $1 billion stake in Apache, had urged the Houston company to exit its LNG projects in Canada and Australia and focus on drilling onshore in the United States
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 remained unchanged at $101.29. In the past year, the shares have traded as low as $75.07 and as high as $104.00. On average, 2884910 shares of APA exchange hands on a given day and today's volume is recorded at 25185.
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