Tag: Apache Corp.

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 »

Pickens sells off large part of energy hedge fund holdings

In the same quarter Forbes Magazine declared he was no longer a billionaire, Texas oil tycoon T. Boone Pickens dumped nearly half of his oil and gas positions, hawking stakes in Apache Corp., BP, Chevron and a dozen others.  More »

Apache earnings rise on higher North American liquids production

Increased oil and natural gas liquids production in North America drove Apache Corp. profits 86 percent in the third quarter to $300 million, the company said Thursday.  More »

Feds fine Apache for false Gulf of Mexico production data

U.S. officials have ordered Apache Corp. to pay a $2.7 million fine for allegedly submitting false data about its Gulf of Mexico oil production and the royalties the Houston-based company owed the federal government.  More »
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