Apache boosts share buyback program by one third

|About: Apache Corporation (APA)|By:, SA News Editor

Apache (APA -0.8%) will increase its share buyback program to 40M shares from 30M, CEO Steve Farris tells investors at the company's annual meeting.

The move is part of APA's overall effort to improve shareholder returns, which includes a focus on drilling more higher margin, less risky wells in shale basins.

Also, 96% of shareholders vote in favor of APA's executive compensation, a major departure from last year when half voted against it.