Apache sells Argentina operations to YPF for $800 mln

Reuters

Feb 12 (Reuters) - U.S. oil and gas company Apache Corp on Wednesday said it sold all of its operations in Argentina to state-controlled energy company YPF for $800 million cash.

YPF paid a $50 million deposit on the deal which also includes the assumption of $52 million in back debt.

U.S.-based oil and gas Apache has stakes in about 25 fields in Argentina. In May the company - which also has oil and gas operations in Egypt, Australia and the North Sea - announced plans to sell $4 billion of assets to cut debt and shore up its balance sheet and share price.

Reuters reported in November that the deal was being negotiated.

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