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Apache Chops Rig Count By 7; Capex Reduced By 20%
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Apache Corp. has reported its 2019 capital plan. This budget excludes the planned consolidated activities of Altus Midstream Company.
NOTE: Below you will find the same production guidance that Apache provided in an earlier estimate, but it was paired with a $3.0 billion budget - which is much higher than its now announced $2.4B budget.*Assuming an average WTI oil price of $53 per barrel and a Henry Hub natural gas price of $2.80 per thousand cubic feet (Mcf)
2019 Plan- 2019 Capex: $2.4 billion (a decrease of -20% from 2018)
70-75% will be allocated to US operations ($1.68-1.8 billion)- 2019 Production: 410,000-440,000 BOEPD
Projects 6 to 10% total adjusted production growth, 12 to 16 percent U.S. production growth, and 5 percent Permian oil growth from fourth-quarter 2018 to the…- ✓ Full news archive — U.S., Canada & international coverage
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