John J. Christmann Stephen Riney Hedged oil price at $50 “Over the past several weeks, we have entered into put option contracts providing a floor of $50 WTI and $51 Brent for most of our second half 2017 oil production. … Continued
Apache (APA) Q3 2016 Results John Christmann Alpine High “Now I would like to spend a few minutes discussing our Alpine High play. The Alpine High is an immense resource and a transformational discovery for Apache. We have invested a … Continued
Apache (APA) John J. Christmann on Q2 2016 Results I don’t see us departing from conservative budgeting approach in 17 “The first thing I would say is we’re going to be a member of the returns club, is the club … Continued
Apache (APA) John J. Christmann on Q1 2016 Results Targeting cash flow neutrality at $35 oil “Apache is targeting cash flow neutrality in 2016 under our current budget, which assumes flat $35 oil and $2.35 gas.” Well costs are down … Continued
Apache (APA) John J. Christmann on Q4 2015 Results Taken decisive action to position for an extended low price environment “we have taken other decisive actions to position Apache for an extended low price environment, which included aligning our capital … Continued
Getting balance sheet in order “So far in 2015, we have paid down $2.5 billion of debt. Currently our net debt is less than two times annualized 2015 adjusted EBITDA. We have extended our nearest long-term debt maturity to 2018, … Continued
Decreased rig count by 77% “we decreased our North American rig count by 77%, from 65 rigs on December 31 to 15 rigs by the end of the first quarter. We are highly focused on reducing all elements of our … Continued
Each week I read dozens of transcripts from earnings calls and presentations as part of my investment process. Below are some of the most important quotes about the economy and industry trends from the transcripts that I read this week. … Continued
This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha Permian ahead of expectations … Continued
A digest of some of the top insights that I’ve gathered from this week’s earnings calls. Full notes can be found here. Analyst concern: Permian is a black box for APA [Analyst question] “Talk a little about the Permian, some … Continued