- Apache (NASDAQ:APA) says it plans to spend $8.5B on exploration and production this year, with 64% earmarked for drilling more profitable oil wells onshore in North America; APA says it can spend less than last year's ~$10B on E&P because of its smaller asset base.
- APA expects its 2014 global oil and gas production to grow 5%-8%; output of crude oil and natural gas liquids from its North American onshore properties are expected to rise 15%-18% this year.
- Says it has engaged in "serious discussions" with potential buyers for some of its 50% in the Kitimat liquefied natural gas project in British Columbia; Chevron (CVX) is APA's partner in the project.
- APA +1% premarket.