Apache Sells Certain Assets in Canada (APA)

On Wednesday, oil and gas company Apache Corporation (APA) announced that it has agreed to sell some of its gas producing properties in Canada for $112 million.

The company will sell its Hatton, St. Lina, Marten Hills, Snipe Lake, Valhalla and a part of its Hawkeye properties. These properties are primarily located in Saskatchewan and Alberta and total approximatly 4,000 operating wells and 1,300 non-operating wells. The average daily production for these locations is about 38 million cubic feet of natural gas and 750 barrels of oil.

The sales will be made in two separate deals. Both of these deals are expected to close in the fourth quarter.

Apache shares were mostly flat during pre-market trading Wednesday. The stock is up 12% YTD.