Profile: Apache Corp (APA)
26 May 2017
Apache Corporation, 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 production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
In North America, the Company has three onshore regions: The Permian region, The Midcontinent/Gulf Coast region and The Canada region. The Permian region located in West Texas and New Mexico includes the Permian sub-basins, the Midland Basin, Central Basin Platform/Northwest Shelf and Delaware Basin. The Midcontinent/Gulf Coast region includes the Granite Wash, Tonkawa, Canyon Lime, Marmaton, and Cleveland formations of the West Anadarko Basin, the Woodford-SCOOP and Stack plays located in Central Oklahoma, and the Eagle Ford shale in South East Texas. The Canada region has exploration and production operations in the provinces of British Columbia, Alberta and Saskatchewan. Its drilling activities are primarily focused in the Duvernay and Montney shale plays. It also has one offshore region in North America, the Gulf of Mexico region, which consists of both shallow and deep water exploration and production activities.
The Company's Alpine High acreage lies in the southern portion of the Delaware Basin, primarily in Reeves County, Texas. In addition to activity in Alpine High, the Permian region drilled or participated in over 110 wells as of December 31, 2016. The Company's assets in the Central Basin Platform/Northwest Shelf span 739,000 net acres. In the Delaware Basin, the Company held approximately 392,000 net acres as of December 31, 2016. In addition to drilling and development activities at Alpine High, the Company targeted plays in the Bone Spring and Wolfcamp plays. As of December 31, 2016, its Midcontinent/Gulf Coast region included 2.6 million gross acres and over 3,200 producing wells primarily in western Oklahoma, the Texas Panhandle and south Texas. It held 3.5 million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. Its drilling operations primarily focused on the Wapiti Montney, Ante Creek Montney, Duvernay and Glauconite plays. The Gulf of Mexico region comprises assets in the offshore waters of the Gulf of Mexico and onshore Louisiana. It primarily markets its North American crude oil to integrated oil companies, marketing and transportation companies.
The Company has two international regions: The Egypt region, which includes onshore conventional assets in Egypt's Western Desert, and The North Sea region, which includes offshore assets based in the United Kingdom. Egypt operations are conducted pursuant to production sharing contracts (PSCs). As of December 31, 2016, the Company held 4.8 million gross acres in 23 separate concessions. As of December 31, 2016, the Company had interests in approximately 380,000 gross acres in the United Kingdom North Sea. It holds a working interest in Callater exploration discovery in the Beryl area and operates the field.
2000 Post Oak Blvd Ste 100
HOUSTON TX 77056-4400