July 6, 2017 / 10:17 PM / 2 months ago

BRIEF-Apache announces strategic exit from Canada

July 6 (Reuters) - Apache Corp:

* Apache announces strategic exit from Canada

* Apache Corp - also in June, Apache sold assets at Midale and House mountain, located in Saskatchewan and Alberta, to Calgary-based Cardinal Energy Ltd

* Apache Corp says Apache budgeted $125 million of capital expenditures to canada for 2017 and 2018

* Apache Corp - ‍upon completion of exit from Canada, Apache will realize a significant reduction in asset retirement obligations and annual overhead costs​

* Apache Corp - in a separate transaction signed in June, Apache agreed to sell its provost assets in Alberta to an undisclosed privately owned company

* Apache Corp - ‍total company revenues per boe, cash margins per boe, and earnings per share will also improve with completion of transactions​

* Apache Corp - Apache budgeted $125 million of capital expenditures to Canada for 2017 and 2018

* Apache - production from Apache's Canadian operations averaged approximately 300 million cubic feet of gas equivalent per day for second-quarter 2017

* Apache Corp - ‍plans to update its 2017 and 2018 guidance following closings of three transactions​

* Apache Corp - proceeds from transactions to be used to fund portion of co's 2017-2018 capital program, to reduce debt, or improve overall liquidity Source text for Eikon: Further company coverage:

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