Apache's Stock Splits Two-For-One on Jan. 15

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Apache's Stock Splits Two-For-One on Jan. 15

January 13, 2004 at 12:00 AM EST
Apache's Stock Splits Two-For-One on Jan. 15 HOUSTON, Jan. 13 /PRNewswire-FirstCall/ -- Apache Corporation (Ticker: APA) said that the additional shares to implement its two-for-one common stock split will be distributed Jan. 14 and reminds investors that the company's stock price will be adjusted at market opening on Jan. 15. As a result, Apache's stock price will open Thursday at approximately one-half of Wednesday's closing price. Since stockholders will own twice as many shares as they did prior to the split, the overall value of their Apache holdings will not be affected.

When Apache's Board of Directors announced plans for the stock split last September, it also increased the cash dividend by 20 percent, to 12 cents a share per quarter from 10 cents, effective with the November 2003 payment. The quarterly cash dividend of 6 cents per share, to be paid Feb. 23, reflects both the dividend increase and the stock split and is equivalent, in aggregate, to the 12 cents per share paid in November 2003.

Apache Corporation is a large oil and gas independent with core operations in the United States, Canada, the United Kingdom North Sea, Australia and Egypt.

CONTACT: Apache Corporation
Media: Tony Lentini +1-713-296-6227
  Bill Mintz +1-713-296-7276
  David Higgins +1-713-296-6690
Investors: Robert Dye +1-713-296-6662
Web site: http://www.apachecorp.com