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APACHE EXPECTS NON-CASH CHARGES IN THIRD QU ? HOUSTON, Sept. 20 /P RNewswire/ -- The Omnibus Budget Reconciliation Act of 1993 increased corporate tax rates, triggering an accounting rule that requires corporations to increase deferred tax liabilities. Accordingly, Apache Corp. (NYSE: APA) today announced that it will take

share. The charge will have no impact on Apache's 1993 cash flow.
 In addition, to reflect the repositioning of Apache's international portfolio to focus on Australia and Southeast Asia, the company expects to write down the carrying value of assets in West Africa by $4.3 million after tax, or $.08 per share, in the third quarter. The non-cash charge is consistent with the redirection of the company's international business following the previously announced acquisition of approximately two-thirds of the common stock of Hadson Energy Resources Corp. Both Apache and Hadson Energy have production in the Carnarvon Basin offshore Western Australia, as well as recent discoveries under evaluation and other interests in licenses totaling 8.5 million undeveloped acres. Both companies also hold interests in exploration rights in Indonesia.
 Apache is an independent energy company engaged in exploration for and development and production of natural gas and crude oil. The company's securities are traded on the New York and Chicago Stock Exchanges.
 -0- 9/20/93
 /CONTACT: Jeanne Buchanan of Apache, 713-296-6155/
 (APA)


CO: Apache Corp. ST: Texas IN: OIL SU:

MC -- DV005 -- 3762 09/20/93 14:53 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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