Apache completes sale of Kitimat LNG

Apache Corp. (NYSE, Nasdaq: APA) has completed its sale of its 50% interest in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in British Columbia, Canada, to Woodside Petroleum Ltd. (ASX: WPL).

Total proceeds of $854 million include $354 million in adjustments for reimbursement of net expenditures on the project, changes in working capital, and other contractual adjustments for the period between the effective date, July 1, 2014, and closing.

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