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, or $0.31 per share.

Apache produced 482 MBOEPD in Q4, up 10% from the 440 MBOEPD the company produced in Q4 2017. This moderate growth conceals the company’s aggressive Permian expansion, where output is up 33% year-over-year. Apache is now producing 236 MBOEPD from the Permian, making it among the largest operators in the basin. The company produced 99 MBOPD...

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