Apache operations in Argentina (image courtesy of Apache)

Apache Corp. has agreed to sell all of its Argentina operations to YPF for $800 million.

YPF has already made a $50 million deposit in the transaction.

The deal is expected to close in the next 30 days.

At the end of 2013, Apache had 540 bcf of natural gas equivalent in reserves in Argentina.

This deal is the latest as Apache continues to unload assets for cash. In the last half of 2013 the company sold $7 billion worth of assets, including 500 blocks in the Gulf of Mexico Fieldwood Energy for $3.75 billion.


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