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Apache: US Oil To Lead Company's Production Growth

--Apache unveils large positions in the Williston Basin, Mississippi Lime --Production to exceed 1 million barrels of oil equivalent in 2016, from 769,000 boe/d in 1Q --Liquids production will amount to 58% of total, versus 50% in 2011 By Angel Gonzalez HOUSTON-- Apache Corp. (APA) plans to produce more than 1 million barrels of oil equivalent a day in 2016, with U.S. oil production leading its growth, Chief Executive Steve Farris said Thursday. That year, about 41% of the Houston oil company's production will come from U.S. onshore fields, up from about 21% currently, the company said. That would make the U.S. the largest source of Apache's production, surpassing Egypt, currently its most productive asset. The company in the last quarter produced an average of 769,000 barrels of oil equivalent a day. "U.S. liquids is going to lead growth," Mr. Farris said at the company's annual analyst meeting. "It's really the beginning of a new life cycle." About 58% of Apache's production will be oil and similar liquids, up from 50% in 2011, the company said. Apache said it had a new 300,000 acre position in the Williston Basin, where the oil-rich Bakken Shale is located, and 580,000 acres in the Mississippi Lime, an emerging oil region in the central U.S. The company also has positions in Kenya deep-water blocks, West Texas's Permian Basin, the Vaca Muerta shale oil formation in Argentina, and the Anadarko Basin in the U.S., among others. Apache shares were recently up 1.58% at $84.28. Write to Angel Gonzalez at angel.gonzalez@dowjones.com

Stock News for Apache (APA)
DateTimeHeadline
04/17/201510:11:02Statement of Changes in Beneficial Ownership (4)
04/16/201516:47:00Apache To Release First-Quarter 2015 Results May 7
04/16/201512:07:30Statement of Changes in Beneficial Ownership (4)
04/16/201512:04:28Statement of Changes in Beneficial Ownership (4)
04/16/201512:03:03Statement of Changes in Beneficial Ownership (4)
04/15/201510:46:12Statement of Changes in Beneficial Ownership (4)
04/13/201518:30:49Statement of Changes in Beneficial Ownership (4)
04/13/201518:28:58Statement of Changes in Beneficial Ownership (4)
04/11/201510:49:01Apache - Australian Exit Brings Much Needed Cash, Long-Term Value...
04/11/201508:56:56Apache Corporation - Re-Focusing Back On North America
04/10/201517:02:36Amended Current Report Filing (8-k/a)
04/10/201508:00:00Apache Completes Sale of Kitimat LNG
04/08/201518:10:14Apache to Sell Australian Business for $2.1 Billion
04/08/201517:56:21Apache to Sell Australian Business for $2.1 Billion
04/08/201516:58:35Alcoa to sell Australian ops for $2.1B
04/08/201516:36:00APACHE AGREES TO SELL AUSTRALIAN OPERATIONS FOR $2.1 BILLION
04/08/201510:20:24Oil Stocks: Royal Dutch Shell plc Bids Big for BG Group as Merger...
04/02/201508:02:49Additional Proxy Soliciting Materials (definitive) (defa14a)
04/02/201508:01:35Proxy Statement (definitive) (def 14a)
04/02/201508:00:00APACHE COMPLETES SALE OF WHEATSTONE LNG, PROVIDES UPDATED CLOSING...

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