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News Breaks
February 14, 2013
14:47 EDTAPAApache sees FY13 CapEx $10.5B, total production growth of 3%-5%
Says approximately $4B of capital will be invested in onshore U.S. where production should grow in excess of 20%, driven primarily by the company's Permian and central region drilling programs. Projects North American oil production to grow by 14% in 2013, up from 12% in 2012. Additionally, the 2013 plan calls for $2.2B of investments in 10 year-long infrastructure projects, which represents nearly 21% of the total 2013 capital budget. As a result of this capital allocation choice and taking into consideration production declines in certain regions, Apache (APA) expects total production to grow by 3%-5% in 2013. Management says it has a robust project pipeline in motion that will provide a stable base of free cash flow for decades and include broad exposure to quality resource and exploration opportunities around the world. The company plans to drill more wells in 2013 than 2012, with an estimated total of nearly 1,600. Almost two-thirds of all planned wells will be drilled in the Permian and Anadarko basins of the U.S. and are expected to generate fully loaded after-tax rates of return in excess of 20% at planned commodity prices. For 2013, Apache plans to continue to accelerate activity as it ramps up drilling across extensive acreage position in the Anadarko and Whitenburg basins. Management noted it expects Q1 production to be down sequentially due to weather related events in Australia, however that downtime has been incorporated into FY13 production guidance. Comments taken from the company's Q4 earnings conference call.
News For APA From The Last 14 Days
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January 23, 2015
10:15 EDTAPAApache calls active on renewed takeover chatter
Apache January weekly 66 and 67 calls are active on total call volume of 2,500 contracts (200 puts) on renewed takeover chatter. January weekly call option implied volatility is at 39, February is at 38, April is at 33; compared to its 26-week average of 30 according to Track Data. Active call volume suggests traders taking positions for price movement.
10:09 EDTAPARumor: Apache moves up on renewed takeover chatter
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January 22, 2015
16:14 EDTAPAApache appoints Stephen Riney as CFO
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January 20, 2015
08:06 EDTAPAApache Chairman and CEO Farris to retire, Christmann to succeed as CEO
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January 15, 2015
06:25 EDTAPAApache to lay off up to 250 employees this week, WSJ reports
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January 14, 2015
07:41 EDTAPAGlobal Hunter Securities to hold a conference
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