Apache joins foreign exit from Canada's energy sector

Another international oil company is marking its exit from Canada’s energy sector – this time Houston-based Apache Corp.

Apache announced late Thursday that it will complete what has been a staged departure from Canada by selling Alberta and British Columbia assets to Calgary-based Paramount Resources Ltd. Specifically, Paramount will acquire natural gas-focused Apache Canada Ltd. for $459.5-million, deepening the trend towards homegrown ownership in the Canadian energy industry.

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