Deals
Oil Revolt Generates $35 Billion as Icahn-Singer Agitate: Energy
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Apache Corp. isn’t waiting for Carl Icahn to tell the energy company how to reverse a two-year decline that’s erased $14 billion from its market value.
The Houston-based oil and natural gas producer said it will sell $4 billion in properties, buy back shares and cut the target compensation for Chief Executive Officer Steve Farris by 18 percent. He received $17.1 million last year, a 7.1 percent increase from 2011, even as Apache’s stock fell 13 percent.