[grania]

Apache's that wonderful company that produces oil in western Egypt. They were quite eager to drill with a friendlier gov in Egypt and unfettered access to the port at Benghazi.

"conspiracy theory", for sure. Research "Apache and western Egyptian oil".

[thackney]

Apache to Sell $1.4B in Non-Core US Assets
http://www.rigzone.com/news/oil_gas/a/136014/Apache_to_Sell_14B_in_NonCore_US_Assets

Apache Corp. will sell non-core oil and gas assets in southern Louisiana and the Anadarko Basin in two transactions valued at approximately $1.4 billion as the company focuses on growing its North American onshore liquids production.

The Houston-based company will sell its working interest in approximately 90,000 net acres of mature fields in southern Louisiana. Production from these fields, which have high decline rates and short reserve lives, produced around 21,000 barrels of oil equivalent per day – of which 62 percent was natural gas and natural gas liquids (NGL) – net to Apache during this year’s third quarter. Apache will retain its 275,000 mineral acres in southern Louisiana.

In the Anadarko Basin, Apache will sell approximately 115,000 net acres in part of its Stiles Ranch field in Wheeler County, Texas, and in its Mocane-Laverne and Verden fields in western Oklahoma. Net production from these properties averaged 26,000 boepd in the third quarter of 2014; 83 percent of this production was gas and NGLs. -

[knarf]

My gas well supplier/producer Chesapeake, is also getting out of the NG and going into liquid ... someone named Northwest is bidding for their contract

A lot of folks around here are nervous.

[rfreedom4u]

Where is the outcry for Apache to change their name? After all isn’t their name more important than anything else in the world? It’s an affront to Apaches world wide!

Business and oil production mean nothing! Only the feelings of a minority matter.

As if I even need to....SARC!

[Pining_4_TX]

Everyone loves lower oil prices, but the Saudis are the ones who are desperate to hurt American oil and gas producers financially. They want the US to continue to be dependent on their oil. Yes, the same Saudis we rescued from Saddam, who then gave us the 9/11 terrorists. With friends like that....

[Sherman Logan]

Possibly someone can explain something to me.

People keep talking about cutting back on gas and oil exploration based on this week’s prices.

As I understand it, developing a new field takes several years at least. So it seems more than a little idiotic to base decisions on whether to move ahead or not primarily on the present spot price of a product they won’t be producing for several years anyway.

Is there anybody out there who seriously believes oil prices will stay below much below $100 for long? Sure, Saudi is presently flooding the market to drive prices down, for various political and commercial reasons, but their rapidly expanding population means they will inevitably have to focus fairly soon on bringing their income back up.

So what’s up with this?

[Rodamala]

I wish this were more clear... they are stying that overall they are cutting capex... but at the same time are saying they are increasing spending in the Permian Basin as a percentage of the total... In terms of actual spending, one really has no clue if investment is going to be up, down, or stagnant in the Permian Basin.

I have to assume growth, though. I know Apache has been looking to ramp up in the Permian Basin.