Replies to post #83 on Apache Corp (APA)

[Timothy Smith]

Apache announced that it has signed a global strategic partnership with Sinopec International Petroleum Exploration and Production Corporation to pursue joint upstream oil and gas projects.

As a first step, Sinopec is paying US$3.1bn in cash to Apache in exchange for a one-third minority participation interest in Apache's Egypt oil and gas business. Apache will continue to serve as operator.

[Timothy Smith]

Apache plans to test the Eagle Ford initially on a relatively small portion of its acreage that overlaps with or is adjacent to the area already proven by Halcon and other operators.

[Timothy Smith]

$APA The Australian-based Wheatstone project is set to start production by 2016 and will be generating more than $1 billion in annual cash flows.