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Apache IDs Budget for 2019; Achieves Record Permian Output in Q3 at 222 MBOEPD
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Apache Corp. reported its Q3 2018 results as well as its preliminary plans for 2019.
2019 Plans - $3.0B Capex / 425 MBOEPD Guidance- Capex: Apache is planning a $3 billion annual capital program, which will enable the company to maintain its current activity levels.
This spending level is -13% lower compared to 2018's most recent capex of $3.45B, however it is flat at $3.0B compared to what Apache initially planned to spend in 2018- Production: The company expects 2019 production levels at the high-end of previously announced 2019 guidance of 410,000 to 440,000 BOE per day.
This guidance reflects an increase of +8% from 2018's expected production Production Highlights - Record Permian Output at 222 MBOEPD- Q3 production of 476,000 BOEPD - up +13% YOY and +3% from 2Q18
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