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Apache Expands Alpine High Locations +66%; Hints at 'Pared Back' 2018 Budget
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Apache reported its Q3 2017 results. Highlights from its release / call include:
Q3 production of 448,000 BOEPD 2018The company is potentially planning a more conservative budget for 2018 - looking to identify areas where "the capital program could be pared back."
In Apache's Q3 call, CEO John Christmass commented: "We will base our 2018 plan on benchmark pricing that is slightly on the conservative side of the prevailing strip. Given the recent volatility in oil prices, this means we are preparing for a number of possible scenarios. Fortunately, we have considerable portfolio flexibility. Our focus now is prioritizing next year's activity and identifying areas where the capital program could be pared back."
Q3 2017 ActivityPermian
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