Apache to pull out of Alaska, citing low oil prices

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Apache Corp. is one of the largest leaseholders in Cook Inlet.
The oil and gas company Apache Corp. is pulling out of Alaska, citing low oil prices.
The company is one of the largest leaseholders in Cook Inlet, where it has been exploring for oil since 2010. In an emailed statement, a company spokesperson said Apache is slashing spending for the coming year by 60 percent — and halting work in several regions, including Alaska.
“Due to the current downturn, Apache