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Billions In LNG Costs Burden Apache

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By Darren Barbee, Hart Energy
March 27, 2014

Apache Corp. (NYSE: APA) may be the surprise story of 2014, but its last remaining hurdle is the need to sell a significant portion of its Kitimat LNG stake and the billions in future capital costs that go with it.

“We see 2014 as a defining year for Apache,” said Bob Brackett, senior analyst for Bernstein Research in a March 25 report. “Apache has long lagged peers on both price/cash flow multiples and enterprise value/PV-10 of proved reserves.”

After divesting billions of dollars in 2013, Apache has shrunk estimated production ...

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