Apache Corporation Seeks Buyer for Stake in the Wheatstone Project

Bloomberg reports that Apache Corporation is seeking a buyer for its interests in the Wheatstone LNG project.  Apache Corporation, an American oil and gas producer, has engaged in early discussions with potential buyers for its holdings in Chevron Corporation’s project in Western Australia.  Within the last year, Apache Corporation has announced the sale of several sizable assets, including the company’s Argentinian operations, deep-water assets in the Gulf of Mexico, and a stake in its Egypt business, in an effort to reduce its net debt, which stood at $8 billion in March.  Apache’s 13 percent stake in the Wheatstone project is valued at $2.5 billion.

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