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Apache Completes 57 Permian Wells in 4Q; Enhances Liquidity
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Apache Corporation announced its financial and operational results for the fourth quarter and full year 2015.
Highlights: Delivered full-year 2015 production of 535 thousand barrels of oil equivalent (Mboe) per day and pro forma production of 486 Mboe per day, which represented pro forma growth in North America Onshore and International and Offshore of 3 percent and 13 percent, respectively; Reduced 2015 total capital spending more than 60 percent year-over-year; Reduced total debt during 2015 by $2.5 billion to $8.8 billion and ended the year with approximately $1.5 billion of cash; Realized a 35-percent reduction in average North American Onshore drilled and completed well costs from the fourth quarter 2014 to the fourth quarter 2015John J. Christmann IV, Apache’s chief executive…
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