HOUSTON, Jan 14 (Reuters) - Apache Corp (APA.N: Quote, Profile, Research) may write down the value of some assets in 2009 because of a sharp drop in energy prices, but this would not affect its $2.3 billion credit facility, the independent oil and gas company said on Wednesday.

Apache will also not finalize its year-end reserve estimates for a few weeks, Chief Executive Steven Farris told the Goldman Sachs Global Energy Conference.

"Apache is in good shape entering 2009 with significant rising production, cash on the balance sheet and access to the credit markets at very acceptable rates," Farris said in a news release.

U.S. regulations require energy companies to adjust the value of their oil and gas reserves and assets using a year-end price. Since crude oil and natural gas have dropped sharply from last year, the value of reserves and assets has been hit. Therefore some companies' lenders may adjust loan covenants.

Apache will focus on completing several large development projects this year while living within operating cash flow, Farris said.

The Houston company expects 2009 production growth of 6 percent to 14 percent.

Shares of Apache fell 4.9 percent to $72.68 on the New York Stock Exchange, roughly in line with a drop in the American Stock Exchange index of natural gas companies .XNG. (Reporting by Anna Driver; Editing by Lisa Von Ahn)