Apache

Under a new deal announced Monday by Houston-based Prometheus Energy Group Inc., Apache Corp. will expand its use of liquefied natural gas (LNG) in drilling and hydraulic fracturing (fracking) operations. The agreement is an expansion of an existing contract between the two Houston-based energy companies.

Apache Corp., working overtime to throw more weight into its North America exploration and development, beat analyst expectations in the third quarter, led by substantial gains in the U.S. and Canada onshore.

The Interior Department’s Office of Natural Resources Revenue (ONRR) said it has fined Apache Corp. approximately $2.72 million for “knowing or willful” submission of false information. The civil penalty stems from an ONRR audit that found the producer was improperly deducting transportation costs on its Outer Continental Shelf Lands Act Section 6 leases in the Gulf of Mexico. The Section 6 leases at issue to not allow for transportation deductions from royalty payments, the ONRR said. ONRR auditors ordered Apache in May 2010 to stop claiming the transportation deductions on its Section 6 leases and to pay back the deductions. While Apache complied and paid the additional royalties, in August 2010 it began deducting transportation costs from its royalty payments on those same Section 6 leases. In July 2011, ONRR’s Audit and Compliance Management Program referred the matter to the Office of Enforcement, which issued the civil penalty in late September after concluding its investigation.

Apache Corp.announced several executive changes effective Jan. 1, 2014. COORod Eichleris transitioning to two newly created roles: executive adviser to the chairman and CEO of liquefied natural gas projects and upstream, as well as oversight of gas monetization, and corporate health, safety, environment and emergency response. Permian Basin Region Vice PresidentJohn Christmannis to become COO of North America. International Operations EVPTom Voytovichis becoming COO of International, whileMike Bahorich, chief technology officer, also assumes responsibility for exploration and production technology. Argentina Region Vice PresidentMichael Bosewould take over the Permian Region, whileDavid Chi, manager of Argentina production, would become interim region vice president.Rob Johnstonis to become vice president of the Central Region.

Apache Corp., which has dedicated itself to pare debt and concentrate on its most profitable enterprises, is selling some dry natural gas-rich assets in Canada for $112 million.

FERC on Monday approved a joint request for temporary waivers of certain agency regulations to facilitate the $3.75 billion sale of Apache Corp. Gulf of Mexico assets to Fieldwood Energy LLC.

Big Oil’s attempt to take over the North American onshore from U.S. independents so far hasn’t paid off as some would have imagined just a few years ago, with the majors still struggling to capture the kind of profits and production results they may have been anticipating.

Apache Corp. on Thursday agreed to sell half a million net acres of natural gas- and oil-rich properties in Western Alberta to a privately held Canada producer for $214 million.

With most of the preliminary work completed for the proposed liquefied natural gas (LNG) export terminal in Kitimat, British Columbia, Chevron Corp. and joint partner Apache Corp. are in a “great competitive spot and on schedule” to become one of the ultimate exporters in the growing waiting line, Chevron upstream chief George Kirkland said Friday.