Key Developments: Apache Corp (APA)

APA on New York Consolidated

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3 Aug 2015
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Latest Key Developments (Source: Significant Developments)

Apache Corp enters into credit agreement - Form 8-K
Tuesday, 9 Jun 2015 02:36pm EDT 

Apache Corp:Entered into a credit agreement with (lenders) JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Citibank, N.A., as co-syndication agents, and Royal Bank of Canada, HSBC Bank USA, National Association.The Bank of Tokyo-Mitsubishi UFJ, Ltd., Wells Fargo Bank, National Association, and Mizuho Bank, Ltd., as Co-Documentation Agents.The credit agreement provides for a five-year revolving credit facility and aggregate commitments of $3.5 billion (including a $750 million letter of credit subfacility), with rights to increase commitments up to an aggregate $4.5 billion.Proceeds of borrowings may be used for general corporate purposes.  Full Article

Apache Corp completes sale of Australian Operations
Friday, 5 Jun 2015 08:03am EDT 

Apache Corp:Completed the previously disclosed sale of its Australian subsidiary Apache Energy Ltd to a consortium of private equity funds managed by Macquarie Corporate Holdings Ltd and Brookfield Asset Management Inc.Total proceeds of $1.9 billion are net of $225 million in customary, post-closing adjustments for the period between the effective date, Oct. 1, 2014, and closing.  Full Article

Apache Corp announces organizational restructuring and key leadership changes
Monday, 1 Jun 2015 09:28am EDT 

Apache Corp:Announces organizational restructuring and key leadership changes.Says new organization includes three super Regions.Says in North America, the company is merging resources into two super Regions: the permian region and the Houston region.Says apache's Egypt region, North Sea region and Gulf of Mexico region will form the international and offshore region.Says timothy j. sullivan has been appointed to newly created role of senior vice president - operations support based in Houston.Thomas E. Voytovich will assume the role of EVP - international and offshore region and exploration and production technology.Says by the end of 2015, Apache will reposition its overall cost structure.Organizational changes and realignment of apache's operating areas will not impact reporting of production in co's quarterly supplement.Company will continue to report production as permian, central, gulf coast, Canada, Gulf of Mexico, Egypt and the North Sea.  Full Article

Apache Corp declares regular cash dividends
Thursday, 21 May 2015 04:05pm EDT 

Apache Corp:Declares regular cash dividends of 25 cents per share.Payable on Aug. 21, to stockholders of record on July 22.  Full Article

Apache Corp completes sale of Kitimat LNG
Friday, 10 Apr 2015 08:00am EDT 

Apache Corp:Has completed previously disclosed sale of its 50 pct interest in Kitimat LNG project and related upstream acreage in Horn River and Liard natural gas basins in British Columbia, Canada, to Woodside Petroleum Ltd.Total proceeds of $854 mln include $354 mln in adjustments for reimbursement of net expenditures on the project, changes in working capital and other contractual adjustments for the period between the effective date, July 1, 2014, and closing.  Full Article

Apache Corp to sell Australian operations
Wednesday, 8 Apr 2015 04:36pm EDT 

Apache Corp:Says an agreement to sell its Australian subsidiary Apache Energy Limited to a consortium of private equity funds managed by Macquarie Capital Group Limited and Brookfield Asset Management Inc. for cash payment of $2.1 bln.Says transaction is expected to close mid-year 2015 and is subject to necessary government and regulatory approvals and customary post-closing adjustments. The effective date of the sale is Oct. 0 1, 2014.  Full Article

Apache Corp completes sale of Wheatstone LNG project
Thursday, 2 Apr 2015 08:00am EDT 

Apache Corp:Completes sale of Wheatstone LNG project and accompanying upstream oil and gas reserves to Woodside Petroleum Limited for total proceeds of $2.817 bln.Says under terms of agreement, Apache has sold equity ownership in it's Australian subsidiary, Apache Julimar Pty Ltd, which owns 13 pct interest in Wheatstone LNG project and 65 pct interest in WA-49-L block and includes Julimar/Brunello offshore gas fields and Balnaves oil development.Proceeds are expected to be about $854 mln, which would include $354 mln in adjustments for reimbursement of net expenditures on project, changes in working capital and other contractual adjustments for period between effective date, July 1, 2014, and closing.  Full Article

Apache Corp declares cash dividends on common shares
Friday, 20 Feb 2015 08:00am EST 

Apache Corp:Says Board has declared regular cash dividends on the company's common shares.Says dividend on common shares of 25 cents per share is payable on May 22 to stockholders of record on April 22.  Full Article

Apache Corp announces New Chief Financial Officer
Thursday, 22 Jan 2015 04:05pm EST 

Apache Corp:Announces Stephen Riney will be appointed as Executive Vice President and Chief Financial Officer.  Full Article

Apache announces retirement of Chairman, President and CEO, G. Steven Farris; John J. Christmann, IV, COO North America, to succeed Farris As President and CEO
Tuesday, 20 Jan 2015 08:00am EST 

Apache Corporation:Says G. Steven Farris, 66, Chairman, President And Chief Executive Officer of Apache Corporation has announced his retirement effective Jan. 20.Says Farris will continue as Non-executive Chairman of the board until May 1, at which time he will retire from the board.Says John J. Christmann, IV, 48, Apache's executive vice president and Chief Operating Officer -- North America, will succeed Farris as President and Chief Executive Officer and will join Apache's board effective Jan. 20.Director John Lowe, 54, has been elected to succeed Farris as non-Executive Chairman.  Full Article

UPDATE 1-Exxon, Chevron holders say 'no' to adding climate experts to boards

HOUSTON, May 27 - Shareholders of the top two U.S. oil companies on Wednesday rejected proposals to add directors with climate change expertise to their boards, but a measure passed at one, Chevron Corp, could give new power to minority investors with environmental concerns.

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