Profile: Apache Corp (APA)
30 Sep 2016
Apache Corporation (Apache), incorporated on December 6, 1954, is an independent energy company. Both domestically and internationally, the Company explores for, develops and produces natural gas, crude oil and natural gas liquids. The Company has exploration and production interests in four countries: the United States, Canada, Egypt, and the United Kingdom (North Sea). Apache also pursues exploration interests in other countries.
Apache's North American assets are primarily located in the Permian Basin, the Anadarko basin in western Oklahoma and the Texas Panhandle, Gulf Coast and the offshore Gulf of Mexico areas of the United States, and in Western Canada. The Company has access to liquid hydrocarbons across its approximately 10.7 million gross acres onshore in the United States and Canada. Approximately 55% of this acreage is undeveloped. Additionally, 58% of Apache's production and over 72% of its estimated proved reserves are in the United States and Canada onshore regions. Its Permian region controls over 3.3 million gross acres with exposure to various plays across the Permian Basin. Apache has approximately 14,300 producing wells in over 160 fields, including over 60 waterfloods and over seven carbon dioxide (CO2) floods. Apache's MidContinent/Gulf Coast region holds approximately 2.8 million gross acres and includes over 3,400 producing wells primarily in western Oklahoma, the Texas Panhandle, and south Texas.
Apache drilled or participated in drilling approximately 130 wells. Apache is active in the Woodford-SCOOP play in Central Oklahoma targeting the Woodford formation, where the Company drilled or participated in drilling over 30 wells. The Company holds over 3.6 million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. Its Canadian region provides approximately 13% of Apache's production and holds approximately 280 million barrels of oil equivalent (MMboe) of estimated proved reserves. Apache primarily markets its North American crude oil to integrated oil companies, marketing and transportation companies, and refiners.
Apache's international assets are located in Egypt and offshore of the United Kingdom in the North Sea. Its international assets contribute approximately 40% of its production. Approximately 28% of its estimated proved reserves are located outside North America. The Company holds over 6.7 million gross acres in over 20 separate concessions. Approximately 73% of its acreage in Egypt is undeveloped. The Company drilled approximately 100 development and over 20 exploration wells. Apache has made two discoveries in the area, the K and Corona discoveries. The K discovery encompasses multiple commercial zones across over three distinct fault blocks, including one fault block. The Corona discovery logs approximately 225 feet vertical depth net pay in reservoir-quality sandstone. Apache has working interests in K and Corona.
2000 Post Oak Blvd Ste 100
HOUSTON TX 77056-4400
Company Web Links
- BRIEF-Apache CEO to discuss 'alpine High' discovery at 2016 executive oil conference
- A resilient Apache Corp strikes oil in overlooked Texas field
- UPDATE 2-A resilient Apache Corp strikes oil in overlooked Texas field
- Apache Corp to develop new Texas oilfield, raises capex
- BRIEF-Apache discovers significant new resource play in southern Delaware Basin