Tag: Apache Corp.

Apache attempts to reassure investors about N. American focus

In response to complaints from an activist hedge fund, Houston-based Apache Corp. said it will continue to focus more closely on North American onshore exploration and production.  More »

Wolfcamp Shale layers could put play among most profitable

Wood Mackenzie showed that operators with at least five years of proprietary drilling or that spend around 70 percent of their North American budgets in the Wolfcamp have seen as much as six times the oil production per 1,000 foot lateral drilling lengths, measured over 10 months.  More »

Apache names Annell Bay to its board

Bay, 58, recently retired after six years as vice president of Global Exploration at Marathon Oil Co.  More »

Executive pay drops as shareholder pressure rises on oil giants

Several of the largest U.S. energy companies cut into top-shelf executive pay last year as activist investors pushed them to shrink their oil empires and steer more capital to shareholder pockets.  More »

Energy executives turn pessimistic about industry’s future

Chief financial officers of some of the largest energy companies are more pessimistic than the rest of the business community on earnings growth, according to a new survey released by the consulting firm Deloitte.  More »

Apache to sell Canadian assets for $374M

Apache Corp. has struck a deal to sell oil and gas acreage in western Canada for $374 million, freeing up cash to reward investors with further share buybacks, the company said Monday.  More »

Apache ends sales push with close of Argentina deal

Apache Corp.’s international hunt for buyers of oil land has ended after a year with the close of its most recent deal in Argentina, the company said Wednesday.  More »

Moody’s: Many US energy companies on investors’ hit list

Activist investors are getting impatient with oil producers who have redirected large investments from U.S. shale gas to liquid plays, building out projects that often take years to become profitable, according to Moody’s Investors Service.  More »

Apache to shrink stake in Canadian LNG

Apache Corp. President and CEO G. Steven Farris announced Tuesday that the company expects to reduce its stake in an LNG project in Canada as part of a strategy that continues to shift the company’s focus towards North American, onshore liquid production.  More »

Texas heading for major water shortage with limited oil field recycling

Breaking into massive shale-oil reservoirs could push Texas toward a water shortfall of 3.5 trillion gallons by 2060, unless water recycling gains a foothold in the state’s oil fields, a recent Bloomberg analysis shows.  More »

Apache earnings drop with production losses

Houston-based exploration and production company Apache Corp.’s fourth quarter profits were down 73 percent as a result of asset sales that impacted production levels, the company report Thursday.  More »

CNG prices to jump 30 percent at some pumps

The price of compressed natural gas for cars and trucks will jump 30 percent at some stations because of a federal tax credit that will expire on Tuesday.  More »
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