Apache to exit Canada in deals totaling $713M

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Houston-based Apache Corp. (NYSE: APA) announced July 6 it has reached three deals to sell all of its Canadian assets. Proceeds from the deals are expected to total about $713 million, which will be used to fund a portion of Apache’s 2017-2018 capital program, to reduce debt or to improve overall liquidity. Apache has agreed to sell its Apache Canada Ltd. subsidiary, including properties mainly in the provinces of Alberta and British Columbia, to Paramount Resources Ltd. (TSX: POU). Separately,…


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