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Monday, December 15, 2014

Apache to sell stakes in 2 LNG projects to Woodside for $2.75 bln, (NYSE: APA)

Apache Corp said it would sell its stakes in two LNG projects, Wheatstone LNG in Australia and Kitimat LNG in Canada, along with accompanying upstream oil and gas reserves, to Australia's Woodside Petroleum Ltd for $2.75 billion. Apache will also be reimbursed for its net spending on the two projects between June 30 this year and the closing date, which it estimated at $1 billion, the company said on Monday.

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 1.05% or $-0.6/share to $56.44. In the past year, the shares have traded as low as $55.80 and as high as $104.57. On average, 4542420 shares of APA exchange hands on a given day and today's volume is recorded at 8022466.