Apache Corp.

Apache Corp. today announced that, due to the ongoing public health risks and safety concerns related to the coronavirus pandemic, the location of the Company’s annual meeting of shareholders has been changed to a virtual-only format, as described below. Shareholders will not be able to attend the meeting in person. The meeting date and time have not changed, only the format. Virtual Annual Meeting of Shareholders Meeting [...]

Apache Corp. today provided supplemental information regarding certain first-quarter 2020 financial and operational results. Supplemental quarterly information To further assist analysts with their first-quarter earnings models, the company is providing the following estimates: Average Realized Prices – 1Q20 Oil NGL Natural Gas United States $46.25 $9.60 $0.70 International $50.00 $35.00 $2.90 Egypt tax barrels: 7-10 [...]

Sapakara West-1 well provides further confirmation of geologic model with 79 meters of net oil and gas condensate pay. The third and fourth exploration well locations in Block 58 have been identified. HOUSTON, April 02, 2020 -- Apache Corp. and Total S.A. today announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache [...]

Apache Corp. today provided an update regarding the cost savings associated with its previously announced organizational redesign. Apache now expects to deliver an annualized G&A and LOE cost reduction in excess of $300 million, up from an original target of $150 million. Approximately $225 million of the identified savings, which includes the impact of severance and reorganization costs, will be achieved in 2020. “We [...]

Apache Corp. today provided additional information related to the strength of its liquidity position and capital structure in response to Standard and Poor’s decision yesterday to lower Apache’s credit rating. On March 26, 2020, Standard & Poor’s reduced Apache’s credit rating from BBB to BB+. The primary impact of the ratings change is that Apache will post letters of credit aggregating approximately $650 million related [...]

Apache Corp. today announced multiple actions being taken in response to the current oil price environment. The company reduced its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion from a previous range of $1.6 billion to $1.9 billion. Over the coming weeks, the company will reduce its Permian rig count to zero, limiting exposure to short-cycle oil projects. Activity reductions are also planned in [...]

Apache Corp. today announced details regarding its new organizational structure and key leadership roles. As announced in October 2019, the company has undertaken a comprehensive redesign of its organizational structure and operations to further align its work processes and cost structure with long-term planned activity levels. The new design will enable more effective management of Apache’s diverse portfolio of [...]

Apache Corp. today announced fourth-quarter and full-year 2019 financial and operational results on its website at www.apachecorp.com or investor.apachecorp.com as well as on Twitter . There will be a conference call Feb. 27 at 10 a.m. Central time to discuss the results. It will be webcast from Apache’s website, and the webcast replay will be archived there as well. The conference call will also be available for [...]

The board of directors of Apache Corp. has declared a regular cash dividend on the company's common shares. The dividend on common shares is payable May 22, 2020, to stockholders of record on Apr. 22, 2020, at a rate of 25 cents per share on the corporation’s common stock. About Apache Apache Corp. is an oil and gas exploration and production company with operations in the United States, Egypt and the United [...]

Apache Corp. today provided supplemental information regarding certain fourth-quarter 2019 financial and operational results. Supplemental quarterly information To further assist analysts with their fourth-quarter earnings models, the company is providing the following estimates: Average Realized Prices – 4Q19 Oil NGL Natural Gas United States $56.25 $15.00 $1.50 International $63.25 $42.00 $3.10 Egypt tax barrels [...]