Oil giant Apache is to sell off more of its Canadian operations in two deals worth $112million.
The exploration firm, which operates the Forties field in the North Sea, has sold its dry gas operations in Sasketchewan and Alberta, roducing around 38million cubic feet of natural gas a day.
The buyers have not been disclosed.
The move follows the sale of a $214million selloff of its interest in Alberta, Canada, last month as the company looks to dispose of billions of dollars worth of assets.
“In Canada, Apache is focused on growing liquids production from a deep inventory of crude oil and liquids-rich opportunities in Canada’s Western Sedimentary Basin,” said Apache president Rodney Eichler.
“Our extensive remaining acreage in these areas can generate attractive rates of return and provide for more predictable production growth. We also remain focused on advancing the Kitimat LNG project to monetize large unconventional resources in the Liard and Horn River basins in northern British Columbia.”