From Bloomberg A ride through the Permian Basin’s little-drilled southwest corner looks a bit like the rest of the shale patch. Mesquite dots the dry landscape, and bumpy oilfield roads link well sites to the main highways. But there are a couple of big differences: The drilling rights to about 300,000 acres in the field belong to a single company,
Apache Corporation Announces Temporary Deferral of Alpine High Natural Gas Production in Response to Recent Pricing at Waha Hub
New Alpine High development targets rich gas, NGLs By Richard Rostad, analyst, Oil & Gas 360 Apache Corporation (ticker: APA) reported fourth quarter results and reserves today, showing a net loss of $381 million, or ($1.00) per share. This result was impacted by several impairments, and if these and other special charges are excluded Apache’s Q4 income totaled $119 million,
Overall CapEx down 23% By Richard Rostad, analyst, Oil & Gas 360 Apache (ticker: APA) announced 2019 guidance today, showing the company’s response to the Q4 2018 oil price downturn. Like several other E&P companies, Apache has reduced its expected 2019 CapEx, and now plans to spend $2.4 billion in the year. This is a dramatic reduction from the company’s
Apache’s U.K. North Sea Garten well delivers 16.3 MBOEPD eight months after discovery, 84% oil, 778 feet of net oil pay – Apache has 100% working interest Apache Corporation (NYSE: APA) has placed onto production its Garten discovery well on Block 9/18a Area-W in the United Kingdom sector of the North Sea. The discovery well, which is six kilometers south
Saulsbury was recently awarded a contract to construct three cryogenic processing plants at Apache’s Diamond processing facility, each designed with a capacity of 200 MMSCFD. Saulsbury Industries is a 50-year-old full-service engineering, procurement, construction (EPC) and maintenance contractor specializing in heavy industrial markets. Saulsbury will be responsible for the construction of the processing facilities to include liquid stabilization, slug catchers,
Enterprise Products Partners L.P. (NYSE: EPD) and Apache Corporation (NYSE and NASDAQ: APA) executed a long-term agreement, in which Apache is committing 100 percent of its Alpine High natural gas liquids (“NGLs”) to Enterprise. Apache has 336,000 net acres in its Alpine High discovery in the Delaware Basin. Enterprise has committed to accept a minimum of 205,000 barrels per day
Oil & Gas 360® takes a look at three companies with operations in the Permian: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Corporation (ticker: APA) Halcón Resources Production for the first quarter of 2018 averaged 10,967 BOEPD for Halcón, comprised of 70% oil. This production rate represents a 75% growth rate from the fourth quarter of
Apache Corporation (ticker: APA) said that the EVP of corporate reservoir engineering, Kregg Olson, plans to retire on August 1, 2018. Apache CEO and President John J. Christmann IV said, “Kregg’s expertise and leadership have been a tremendous asset to Apache during his 26 years with the company. On behalf of the board and all Apache employees, I want to
Apache Corporation Announces Appointment of Ben Rodgers as Vice President, Treasury
Earlier today Apache Corporation (Ticker: APA) announced an oil discovery on Block 9/18a Area-W in the United Kingdom sector of the North Sea. Garten is located 6 kilometers south of the Beryl Alpha Platform. The Garten discovery well targeted a downthrown structural closure and encountered more than 700 feet of net oil pay in stacked, high quality Jurassic-aged sandstone reservoirs.
It was in July 2017 that Apache Corp. (ticker: APA) announced it was selling its conventional light oil production to Cardinal Energy Ltd. (ticker: CJ). At that time, Cardinal estimated that the properties would add about 5,000 BOEPD of production, with oil and NGLs making up all production. In Q4 2017, Cardinal’s average daily production was 20,948 BOEPD, and for
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