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APACHE TO SELL INTEREST IN NATURAL GAS CLEARINGHOUSE

 APACHE TO SELL INTEREST IN NATURAL GAS CLEARINGHOUSE
 DENVER, April 16 /PRNewswire/ -- Apache Corp. (NYSE: APA)


announced today that it has agreed to sell its 31.7-percent interest in Natural Gas Clearinghouse (NGC) to subsidiaries of British Gas plc and LG&E Energy Systems Inc. for $50.7 million. Concurrent with this transaction, Apache entered into a long-term marketing agreement with NGC. The transaction is expected to close in mid-May.
 Apache acquired its interest in NGC in May 1989 for $5.6 million in cash, plus promissory notes that were later returned to Apache, and has received $13.4 million of cash distributions to date. During the second quarter, Apache expects to report a gain from the sale of approximately $18.5 million and expects proceeds, net of current income tax payments, of approximately $44 million.
 Apache Chairman and Chief Executive Officer Raymond Plank said, "Apache has scored a big win with NGC. Now by monetizing our investment in NGC, we're able to reduce debt and enhance liquidity, allowing us to pursue opportunities in our core business. At the same time we have retained Apache's access to NGC's market clout."
 Apache will continue to market a significant portion of its gas through NGC and will keep its half-interest in NGC Anadarko Gathering System (NAGS) owned jointly with NGC. NAGS operates 295 miles of gathering systems in western Oklahoma with a throughput capacity of 250 million cubic feet of gas per day.
 Apache is an independent energy company engaged in the exploration for and development and production of crude oil and natural gas. Its securities are traded on the New York and Midwest Stock Exchanges (symbol APA).
 Natural Gas Clearinghouse is a gatherer, processor and marketer of natural gas and natural gas liquids, with current gas sales in excess of 3 billion cubic feet per day and liquids production of over 30,000 barrels per day.
 -0- 4/16/92
 /CONTACT: Roger Plank of Apache, 713-297-9207/
 (APA) CO: Apache Corp.; Natural Gas Clearinghouse ST: Colorado IN: OIL SU:


BB -- DV003 -- 9131 04/16/92 09:41 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
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