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APACHE OPPOSES PROPOSED NATIONAL ENERGY POLICY

 APACHE OPPOSES PROPOSED NATIONAL ENERGY POLICY
 DENVER, May 21/ PRNewswire/ -- Apache Corp. (NYSE: APA) today


released a letter sent by its Chairman and Chief Executive Officer Raymond Plank to members of the United States House of Representatives urging them to vote against the National Energy bill (HR 776) as it is currently amended.
 In the letter, Plank asserts that yesterday's adoption of the Markey/Scheuer anti-gas prorationing amendment "will throw gas markets into disarray, exacerbate our ever-increasing reliance on foreign oil and hasten the demise of the domestic oil and gas industry and more American jobs." The text (excluding text) of Plank's letter follows.
 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).
 May 21, 1992
 Dear Representative __________________:
 Yesterday's adoption of the Markey/Scheuer anti-gas prorationing
 amendment is an irresponsible, ill-conceived and destructive
 action typical of the short-term, quick-fix legislation that is
 emasculating America's ability to compete.
 The amendment takes a watered-down National Energy Policy bill
 with little in it to aid in the survival of the domestic oil and
 gas business and makes it decidedly counter-productive. If
 enacted, the national energy bill would now hasten the demise of
 an American industry that has lost more jobs than any other,
 including the auto and steel industries combined (chart attached).
 We deplore pitting producers against consumers when producers are
 selling natural gas for about $1.60 per thousand cubic feet while
 local distribution companies, pretending to act in the interest of
 consumers, are charging residential users nearly four times as
 much and rising (chart attached). On an energy equivalent basis,
 natural gas purchased at the wellhead for about $9 per barrel is
 sold to residential users for $35 per barrel, causing the U.S. to
 import oil and export jobs rather than to develop domestic,
 environmentally preferable natural gas.
 Contrary to what opponents would have you believe, natural gas
 prorationing reform is not about a cartel to drive up prices.
 It's about protecting property rights of neighboring producers and
 royalty owners. It's about updating production systems that have
 been in place for decades but rendered obsolete by recent sweeping
 changes in natural gas markets. It's about the responsible
 management of a non-renewable, national resource.
 The open-ended Markey/Scheuer amendment pollutes the National
 Energy bill by challenging states' sovereignty. It goes well
 beyond derailing badly needed prorationing reforms made recently
 in Texas and Oklahoma and destroys long-standing natural gas
 production systems in eleven other states, thereby throwing U.S.
 gas markets into disarray.
 Congressman, you have a choice. If the anti-producer, anti-states
 rights Markey/Scheuer amendment remains, we urge you to vote
 against the National Energy Bill (HR 776) or, alternatively, to
 relabel it the Continuing National Energy Debacle.
 Very truly yours,
 Raymond Plank
 Chairman and Chief Executive Officer
 -0- 5/21/92
 /CONTACT: Roger Plank of Apache Corp., 713-297-9207/
 (APA) CO: Apache Corp. ST: Colorado IN: SU:


MC -- DV013 -- 3106 05/21/92 17:59 EDT
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Publication:PR Newswire
Date:May 21, 1992
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