Apache To Sell 10 MMcf Gas Per Day Through Argentine Program
HOUSTON -(Dow Jones)- Apache Corp. (APA) said Monday that it would sell 10
million cubic feet of natural gas a day for a year through Argentina's Gas Plus
program.
The Houston-based oil and natural gas producer will sell the gas at $4.10 per
million British thermal units beginning in January 2010.
This is Apache's second Gas Plus project. The company has already received
approval to provide 50 million cubic feet of natural gas a day to a power plant
operator, beginning in 2011. The Gas Plus program is designed to encourage the
development of natural gas resources in Argentina. Apache has three more
projects awaiting approval.
Apache produces 184 million cubic feet of natural gas a day in Argentina at an
average price of $1.89 per thousand cubic feet.
Shares of Apache recently traded 2% higher at $100.86.
-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com
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11-09-091340ET
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