Capital Markets | Capital Expenditure | Drilling Program-Rig Count | Capital Expenditure - 2022
APA Corp. Boosts 2022 US Onshore Spending 38% vs. 2021
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APA Corp. detailed its 2022 capital plan and guidance.
2022 Plan- Capex: $1.6 billion (upstream) - up 51% vs. 2021
D&C: $1.4 billion Exploration & Appraisal: $200 million- D&C Capex by Play
US Onshore: $630 million - up 38% vs. 2021 Egypt: $490 million North Sea: $280 million- Rigs Running: 15-16 rigs (onshore and offshore)
US Onshore: 3-4 rigs (adding fourth rig in 2H22) Egypt: 11 rigs North Sea: 1 rig- Production: 415 MBOEPD - up 7% vs. 2021
US Onshore: 210 MBOEPD Egypt: 160 MBOEPD North Sea: 45 MBOEPDBased on the current pricing outlook, in 2022, APA plans to invest $1.6 billion in upstream oil and gas capital, which includes approximately $200 million dedicated to exploration and appraisal activities, primarily in Suriname. In aggregate, capital investment…
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