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Stock Market & Financial Investment News

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February 14, 2014
12:56 EDTAPAApache Chief Corporate Officer Plank to retire
Apache announced several changes to its executive organization. Roger Plank, president and Chief Corporate Officer, has elected to retire from Apache. Alfonso Leon, senior vice president and Chief of Staff has been appointed executive vice president and CFO, reporting to G. Steven Farris, chairman, CEO and president. Leon will lead Apache's financial, commercial, stakeholder relations, planning and strategy functions. Prior to joining Apache, he was a director and head of energy investment banking at Perella Weinberg Partners in London. Tom Chambers will assume the new position of senior vice president, finance. Prior to joining the company, Chambers was in the international business development group at Pennzoil Exploration and Production, having held a variety of management positions with BP from 1981 to 1992.
News For APA From The Last 14 Days
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February 2, 2016
15:16 EDTAPAS&P takes rating actions on U.S. investment-grade E&P companies
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January 29, 2016
07:36 EDTAPAAnalysts still predicting mergers as oil slump drags on, WSJ reports
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link

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