Post Tagged with: "Apache Corporation"

Source: Reuters

Apache shares jump 26% on major discovery in Suriname with Total

Reuters Apache Corp and Total SA said on Tuesday they had made a major oil discovery in the hotly-tipped Maka-Central 1 well off the coast of Suriname, sending Apache’s shares surging nearly 26%. The well, dubbed “among the most anticipated in the world” by one brokerage, is seen as central to Apache’s efforts to reduce its reliance on the “Alpine High” venture in Texas’ Permian basin, which has suffered from a dive in natural gas prices. Analysts said it was impossible to ascertain as yet how much oil the find would generate but it is just over the border from Exxon Mobil-led discoveries off Guyana that are estimated to hold more than 6 billion barrels of oil. Apache said the well in the South American nation confirmed a geologic model with 73 metres (240 feet) of oil pay and 50 metres (164 feet) of light oil and gas condensate pay,[Read More…]

Apache Corporation releases 2019 sustainability report

Apache Corporation releases 2019 sustainability report

Oil and Gas 360 HOUSTON, Dec. 16, 2019 — Apache Corporation (NYSE/Nasdaq: APA) has released its 2019 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and community engagement. The report is available at www.apachecorp.com/Sustainability. “At Apache, we deliver the energy needed to sustainably advance human progress while creating value for our stakeholders,” said John J. Christmann IV, Apache’s chief executive officer and president. “The energy we produce and the responsible way in which we operate enables higher standards of living and a cleaner energy future for people around the world. We believe our company’s success depends on delivering positive social, environmental and financial returns.” Among the highlights, the 2019 report: Provides increased transparency on Apache’s most material sustainability issues – Apache believes that transparency is critical to its relationships with stakeholders and strives to continuously improve the breadth and quality of publicly disclosed[Read More…]

Source: Houston Chronicle

Apache reports muted first results in Suriname

Houston Chronicle Houston’s Apache Corp. announced muted initial results of its exploration drilling at its hotly anticipated prospect offshore of the tiny South American nation of Suriname. Apache said it is conducting testing at two upper Cretaceous plays at about 20,000 feet in its first exploration well. However, Apache will keep drilling to test a third potential Cretaceous play at a new depth target of more than 22,000 feet. The lack of both detail and positive news provided from the initial drilling results is expected to trigger concerns from Wall Street on Monday for the Suriname prospect that’s considered Apache’s premier exploration project for future crude oil production. While Apache insists it isn’t pinning all of its hopes on Suriname, the development comes at a crossroads for Apache with the abrupt departure of its exploration chief in October, mounting financial losses and declining activity in its prized Alpine High discovery in West[Read More…]

Apache at crossroads as it pins hopes on Suriname offshore field

Apache at crossroads as it pins hopes on Suriname offshore field

Houston’s Apache Corp. is seemingly at a crossroads with the abrupt departure of its exploration chief, mounting financial losses, declining activity in its prized Alpine High discovery in West Texas, and future hopes pegged to striking it big offshore of the small South American nation of Suriname. Just last week, Steve Keenan, Apache’s head of worldwide exploration, left the company, triggering a nearly 10 percent drop in the company’s stock price. On Wednesday, Apache reported a larger-than-expected $170 million loss for the third quarter. Since the beginning of September 2018, Apache’s stock has plunged by 55 percent. Apache, meanwhile, is hoping to replicate Exxon Mobil’s success in finding oil off the coast of Guyana with its offshore holdings in neighboring Suriname. Apache is quick to point out that it is drilling just seven miles from the Guyana maritime border. Apache should have the results of its first test well by[Read More…]

October 31, 2019 - 10:30 am Closing Bell Story, Exploration and Production (E&P), People
Source: Goodnight Midstream

Altus Midstream Acquires Stake in Shin Oak Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360 Altus Midstream closes purchase of 33% equity stake in Enterprise-owned Shin Oak Pipeline Altus Midstream (stock ticker: ALTM), a pure-play Permian-to-Gulf Coast midstream company, has closed a deal with Enterprise Products Partners (stock ticker: EPD) to acquire a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak natural gas liquids (NGL) pipeline, effective July 31. The Shin Oak pipeline, which runs 658 miles, transports NGLs from multiple basins, including the Permian, to Enterprise’s NGL fractionation and storage complex in Mont Belvieu, Texas. The NGLs that flow through the pipeline are predominantly sourced from Enterprise’s Orla natural gas processin… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password