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APACHE TO REDEEM CONVERTIBLE DEBENTURES

 APACHE TO REDEEM CONVERTIBLE DEBENTURES
 DENVER, May 26 /PRNewswire/ -- Apache Corp. (NYSE: APA) today


announced that it has called for redemption of its 9-1/2 percent Convertible Subordinated Guaranteed Debentures due 1996 issued by its subsidiary Apache International Finance N.V. The debentures will be redeemed June 26, 1992. The amount of the issue outstanding is approximately $21.5 million.
 The redemption follows Apache's issuance on May 18, 1992 of $100 million principal amount of 9-1/4 percent Notes due 2002. Apache issued the new notes to pay down bank debt incurred in the acquisition of MW Petroleum Corp. in July 1991 and to redeem the 9-1/2 percent Convertible Debentures, which bear a significantly higher effective interest rate due to Apache International Finance N.V.'s status as a Netherlands Antilles corporation.
 On June 26, 1992, holders of the debentures will be entitled to receive 100 percent of the principal amount of each debenture, together with accrued interest to the redemption date, or to convert the debentures into Apache common stock at the conversion price of $23.125 per share. To receive the redemption price or convert to common stock, the debentures must be surrendered at the office of a paying agent at any time prior to the close of business on June 22, 1992.
 Apache is an independent energy company engaged in the exploration for and the development and production of crude oil and natural gas. The company's securities are traded on the New York and Midwest Stock Exchanges (symbol APA).
 -0- 5/26/92
 /CONTACT: Roger Plank of Apache, 713-297-9207/
 (APA) CO: Apache Corp.; Apache International Finance N.V. ST: Colorado IN: OIL SU:


MC -- DV002 -- 3750 05/26/92 12:06 EDT
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Publication:PR Newswire
Date:May 26, 1992
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