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Tag: Apache

Apache eyes $1 billion fresh investments in Egypt

Posted: April 10, 2016 at 12:54 pm   /   Oil & Gas

U.S.-based oil explorer Apache will inject around $1 billion worth of fresh investments in Egypt during the fiscal year 2016/17, the Ministry of Petroleum said in a statement Friday. However, the statement did not define the new investments to be carried out by the U.S. firm. Apache’s investments in Egypt currently are valued at $12 […]

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Apache With Shell Eye Egypt for Unconventional Gas in June

Posted: March 15, 2016 at 7:25 pm   /   Oil & Gas

Partners to drill first well this month at Western Desert site Egypt seeking to boost gas output to meet rising local demand Apache Corp. and Royal Dutch Shell Plc plan to start producing unconventional gas from their joint venture in Egypt’s Western Desert by the end of June even as Apache is cutting investment in […]

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Apache to slash 2016 budget by more than half, prioritise Egypt and North Sea operations

Posted: March 1, 2016 at 1:13 pm   /   Oil & Gas

Oil and gas producer Apache Corporation cut its 2016 capital budget by more than half on Thursday and said output would dip as it weathers a 70 percent slide in crude prices. The company plans to spend $1.4 billion-$1.8 billion in 2016, down more than 60 percent from last year’s levels and 80 percent from […]

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Apache to invest $995 million in discovery wells this year

Posted: January 15, 2016 at 8:42 pm   /   Oil & Gas

Mohamed Abdel Azim, head of Khalda Petroleum Company, Apache’s partner in Egypt, said that despite the current downturn in the global price of oil, Apache has allocated about US $ 995 million investments during the fiscal year 2015-2016 budget for the drilling of 94 development and exploratory wells. Abdel Azim added that the company’s current […]

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Anadarko issues statement on offer to acquire Apache Corp

Posted: November 12, 2015 at 7:47 pm   /   Oil & Gas

Anadarko Petroleum Corporation announced the following statement from Chairman, President and CEO Al Walker: “We constantly strive to make Anadarko a better company. As part of these efforts to enhance value, and after extensive analysis of public information, we recently sent Apache Corporation a non-binding offer to acquire the company. The proposed all-stock transaction, which […]

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Apache announces first-quarter financial and operational results

Posted: May 13, 2015 at 2:03 pm   /   Oil & Gas

Apache Corporation announced a first-quarter 2015 net loss of $4.7 billion or $12.34 per diluted common share, which includes an after-tax ceiling-test write down of $4.7 billion, as a result of substantially lower commodity prices. When adjusted for certain items that impact the comparability of results, Apache’s first-quarter loss totaled $139 million or $0.37 per […]

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Apache Corporation reports strong results from discoveries in Egypt's Western Desert

Posted: April 1, 2015 at 10:55 pm   /   Oil & Gas

Apache Corporation reported strong appraisal- and development-drilling results from Egypt following the previously announced discovery of two new oil fields in the Western Desert. The initial discoveries were announced with the fourth quarter 2014 results on Feb. 12, 2015. Development leases were approved by the Egyptian General Petroleum Corporation (EGPC) and Ministry of Petroleum in […]

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