APACHE TO DOUBLE RESERVES WITH AMOCO DEAL

Apache Corp., Denver, will more than double its hydrocarbon reserves and production with the planned purchase of Amoco Production Co. oil and gas assets. Apache will pay $515 million plus 2 million shares of its common stock for net proved reserves of about 63 million bbl of oil and 288 bcf of gas. The transaction, expected to close by midyear, will be underwritten by a loan from First Chicago Corp. and Chemical Bank.

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