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Apache To 'Right-Size' Kitimat LNG Participation

|Includes:Apache Corporation (APA), CVX

Apache Corp announced in its Feb-2014 investor presentation that it plans to 'right-size' its participation in the Kitimat LNG project in Canada. Apache currently holds 50% interest in the 10 MMTPA project, with Chevron holding the remaining 50% interest and operatorship.

The Kitimat LNG project is intended to commercialize 50 Tcf of gross gas discoveries in Liard and Horn River Basins. The project's upstream assets, operated by Apache, cover 644,000 acres in the Horn River and Liard plays. These assets are not included in the potential sale.

In February 2013, Apache and Chevron completed acquisition of Kitimat LNG.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: APA, CVX