US oil and gas company Apache has signed an approximately $214m agreement with Ember Resources to sell oil and gas-producing properties located in the Nevis, North Grant Lands and South Grant Lands areas of western Alberta.
Ember will acquire around 621,000 gross acres and 2,700 wells in western Alberta which produced around 67 million cubic feet of gas and 237 barrels of liquid hydrocarbons a day during the second quarter of 2013.
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Apache president and COO Rodney J Eichler said that the company plans to increase the liquids production at the acreage located in the Western Canada Sedimentary Basin.
"We also remain focused on advancing the Kitimat LNG project to monetise large unconventional resources in the Liard and Horn River basins in northern British Columbia," Eichler added.
The transaction is expected to be completed in the third quarter, subject to customary regulatory approvals.
In July, Apache signed an agreement with Fieldwood Energy, a subsidiary of Riverstone Holdings, to sell its Gulf of Mexico shelf operations and properties for approximately $3.75bn.
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By GlobalDataApache carries out oil and gas operations in the US, Canada, Egypt, UK, Australia and Argentina.
