IT may soon be free of any Australian obligations and able to focus on its substantial assets in North America, but Moody's Investors Service has downgraded Apache Corporation's senior unsecured rating from A3 to Baa1, reflecting Apache's significantly reduced reserves and production scale, high reserve replacement costs and increased financial leverage metrics following its extensive portfolio restructuring.
"Even with the anticipated debt reduction achieved through its LNG asset sales, the company's leverage on production and proved developed reserves is meaningfully higher than when it began the process
Environmental plan reveals 15 platforms to be removed
ENB Briefs: Bolivia, Thailand, UK, and more
Apache strikes oil in Suriname
