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    Apache May Include Australian LNG Project in Potential Spin Off

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Summary

Apache Corp's Wheatstone project in Australia and Kitimat project in Canada are likely to be part of a potential spin off its international assets, reported news agency Reuters citing Chief Executive Officer Steve Farris.

by: shardul

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Asia/Oceania

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Apache May Include Australian LNG Project in Potential Spin Off

Apache Corp's Wheatstone project in Australia and Kitimat project in Canada are likely to be part of a potential spin off its international assets, reported news agency Reuters citing Chief Executive Officer Steve Farris.

The Texas based company previously said it may spin off its international assets into a separate company to focus drilling more North American onshore shale wells in places like the Permian Basin in Texas.

Apache's 13 percent stake in the Wheatstone project in Australia and its 50 percent stake in the Kitimat project in Canada may 'absolutely' be included in the spin out of the company's international assets, Farris told the Barclays CEO Energy conference last week, Reuters reported.

According to Farris, the process is expected to take nine months.

 

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