Post Tagged with: "Apache"

Source: Houston Chronicle

Apache makes deeper cuts while its Permian Basin rig count goes to zero

Houston Chronicle


Houston oil company Apache Corp. is making deeper budget cuts while its Permian Basin rig count has declined to zero.

Apache reported Friday that the company has cut $1.3 billion from this year’s capital spending budget, reducing the …

Permian operators slash 2020 plans as oil market craters

Permian operators slash 2020 plans as oil market craters

Enverus

Oil & Gas 360 Publishers Note: This blog from Erin Faulkner at Enverus is an excellent summary of the  top operators in the Permian and their financial updates. Enverus has over 1,700 employees and has customers in over 50

Source: Reuters

More U.S. oil producers slash budgets amid price rout

Reuters


Devon Energy, Apache Corp and Murphy Oil Corp on Thursday became the latest in a string of North American oil producers to slash their capital spending and drilling plans as crude prices tumble.

Oil producers have been scaling back …

Source: Houston Chronicle

Apache calls it quits on Alpine High after $3 billion charge

Houston Chronicle


Apache Corp. is officially calling it quits on a highly publicized but disappointing shale discovery in West Texas after vehemently defending the prospect for about three years.

The Houston-based company posted a roughly $3 billion writedown on its …

February 27, 2020 - 3:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Diamond secures over $50 million backlog with new North Sea extension

Diamond secures over $50 million backlog with new North Sea extension

Off Shore Energy


During 2019, the company secured $620 million of backlog, including over $50 million secured in the fourth quarter related to a 12-month extension for the Ocean Patriot in the North Sea.

Diamond secures over $50 million backlog with new North Sea extension - oilandgas360

Namely, the 1982-built Ocean Patriot semi-submersible …

Source: Houston Chronicle

Apache closing San Antonio office, cutting nearly 300 jobs

Houston Chronicle


Apache Corp. is closing its San Antonio office and eliminating more than 270 jobs  as part of a reorganization process designed to cut costs.

The Houston-based oil and gas producer had a difficult 2019 as its stock value …

January 9, 2020 - 10:00 am Closing Bell Story‎, Economy, Energy News, Jobs
Source: nasdaq.com

U.S. oil producers to slash spending for second straight year in 2020

Reuters


U.S. energy producers plan to slash spending for a second straight year in 2020 as companies struggle to extract profits from the U.S. shale boom.

While U.S. crude output hit a record 13 million barrels per day (bpd) this …

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

In World’s Top Oil Play, a Driller Bets Big on Gas Liquids

In World’s Top Oil Play, a Driller Bets Big on Gas Liquids

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 …

Low Permian Prices Drive Apache to Defer Alpine High Production

Low Permian Prices Drive Apache to Defer Alpine High Production

Apache Corporation Announces Temporary Deferral of Alpine High Natural Gas Production in Response to Recent Pricing at Waha Hub

April 23, 2019 - 6:30 am Closing Bell Story‎, Natural Gas News, Press Releases
Apache Stops Oil Drilling at Alpine High

Apache Stops Oil Drilling at Alpine High

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

Apache Slashes CapEx, but Will Put Up To $1.8 Billion in Permian in 2019

Apache Slashes CapEx, but Will Put Up To $1.8 Billion in Permian in 2019

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

Apache Expects New Well to be ‘Notable Contributor’ to 2019 Cashflow

Apache Expects New Well to be ‘Notable Contributor’ to 2019 Cashflow

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

Saulsbury and Apache to Add to Permian Gas Processing Capabilities

Saulsbury and Apache to Add to Permian Gas Processing Capabilities

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 …

June 18, 2018 - 1:06 pm Closing Bell Story‎, Energy News, Natural Gas News
Apache Dedicates Alpine High NGLs to Enterprise

Apache Dedicates Alpine High NGLs to Enterprise

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 …

A Look at Activity in the Permian from Three Players’ Perspectives

A Look at Activity in the Permian from Three Players’ Perspectives

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 …

Apache Corp., Strategic Oil & Gas Announce Executive Changes

Apache Corp., Strategic Oil & Gas Announce Executive Changes

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 Corporation Names New Vice President, Treasury

Apache Corporation Names New Vice President, Treasury

Apache Corporation Announces Appointment of Ben Rodgers as Vice President, Treasury

Apache Discovers Over 700 feet of Net Pay in Garten Prospect – North Sea

Apache Discovers Over 700 feet of Net Pay in Garten Prospect – North Sea

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 …

Courtesy of EQT

Cardinal Energy, Now with Apache’s Conventional Light Oil Assets, Produces 21 MBOEPD in Q4 2017

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, …

David Pursell

Apache Names TPH Alum as Head of Planning and Energy Fundamentals

Apache Corporation (ticker: APA) has named David Pursell as SVP of planning and energy fundamentals, effective March 12, 2018.

“I am pleased to welcome Dave to Apache’s executive management team. Dave’s skills, expertise and capabilities will further enhance our robust …

Apache Makes its Exit from Canada

Apache Makes its Exit from Canada

Apache Corporation (APA) will finish exiting its Canada operations following the closing of a sale of three sets of assets. The sale was comprised of a slate of properties in Alberta and British Columbia to Paramount Resources (ticker: POU); the …

Apache Corp. Rejects $18 Billion Takeover Bid: Bloomberg

Apache Corp. Rejects $18 Billion Takeover Bid: Bloomberg

Latest action from energy M&A front line

Apache Corporation (ticker: APA) rejected an unsolicited bid of $18 billion over the weekend, according to a report from Bloomberg. Apache has not commented on the report, but the company is said to …

Apache Corp.’s Asset Sales Reach Nearly $5 Billion Since December

Apache Corp.’s Asset Sales Reach Nearly $5 Billion Since December

Accelerates APA’s Transition to North America

Apache Corporation (ticker: APA) has closed on the $2.8 billion sale of its stake in two separate LNG projects, the company announced on April 10, 2015. The projects include the Wheatstone LNG in Australia …

E&Ps Taking Advantage of Hedging to Protect Profits

E&Ps Taking Advantage of Hedging to Protect Profits

Production is expected to increase

West Texas Intermediate has continued to fall from its 2014 peak of $107.73 a barrel in June to $51.68 at 10:38 a.m. London time. That’s below the breakeven price for 37 of 38 U.S. shale …

January 5, 2015 - 6:35 pm Oil and Gas 360 Articles
Egypt Turns to Hydraulic Fracturing

Egypt Turns to Hydraulic Fracturing

On Wednesday, December 17, Egypt’s Ministry of Petroleum announced that Egypt’s state oil company (EGPC), Houston based Apache Corp. (ticker: APA) and Shell Egypt (ticker: RDSA) have entered into an agreement for the production of unconventional gas using hydraulic fracturing …

December 19, 2014 - 2:45 pm Fracing, International, Oil and Gas 360 Articles
Apache Sells Stake in B.C. and Australia LNG Projects for $2.75 Billion

Apache Sells Stake in B.C. and Australia LNG Projects for $2.75 Billion

Apache Corporation (ticker: APA) announced on December 15, 2014, that it has agreed to sell its interest in two liquefied natural gas (LNG) projects to Australian E&P Woodside Petroleum Ltd. (ticker: WPL). The deal includes the accompanying upstream oil and …

December 16, 2014 - 6:11 pm International, Oil and Gas 360 Articles
Apache Announces $1.4 Billion Deal

Apache Announces $1.4 Billion Deal

On November 20, Apache Corp. (ticker: APA) announced its intentions to sell non-core assets in southern Louisiana and certain parts of the Anadarko Basin for approximately $1.4 billion in two separate deals with unnamed buyers.

In southern Louisiana, Apache agreed …

November 25, 2014 - 2:04 pm Oil and Gas 360 Articles