Usman Shah
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Apache To Buy Back Stock

Apache Corp (NYSE: APA) an independent energy company yesterday announced a partnership with one of chinese oil giant Sinopec's subsidiary. The goal of this deal is to pursue joint upstream oil and gas project, the first deal will give Apache $3.1 billion from Sinopec for 1/3 of Apache's Egyptian oil and gas business. Shares of Apache are up 8.05% trading at $84.95, Apache has acquired over $16 billion in asset in past 3 years and had plans to sell some like they did in this deal. The goal for the sale is to pay of debt and buy back some stock, So I say even after this 8% increase the stock still will grow after debt is paid off and stocks are bought back. Might want to jump in before its too late.