Quarterly / Earnings Reports | Second Quarter (2Q) Update | Forecast - Production | Drilling Activity
Apache Raises 2018 Guidance as Permian Production Jumps in Q2
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Apache reported its Q2 2018 results.
Raises 2018 Production Guidance as Output Jumps- Q2 production of 464,000 BOEPD (up +6% from 1Q18 and +1% YOY)
United States – U.S. production averaged 255,000 BOE per day. The company averaged 17 rigs and drilled and completed 70 gross-operated wells. Permian Basin – Second-quarter production in the Permian Basin averaged 202,000 BOE per day, with total production up 39% and oil up 25% year-over-year.In the Q2 conference call, Apache CEO John Christmann commented: "Based on this performance, we are raising our full year 2018 U.S. production guidance to 260,000 barrels of oil equivalent per day and we are raising full year 2018 Permian Basin guidance to approximately 210,000 barrels of oil equivalent per day. Both of these are above the high end…
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