Deals
Apache to Divest $4 Billion in Assets and Buy Back Shares
This article is for subscribers only.
Apache Corp., this year’s third-worst performing oil and natural gas producer on Standard & Poor’s energy index, plans to sell $4 billion in assets by the end of this year and buy back shares.
Apache, based in Houston, will use initial proceeds of $2 billion to pay down debt, according to a statement today. The balance may be used to buy back as many as 30 million shares.