|Bid||16.22 x 1800|
|Ask||16.20 x 1300|
|Day's Range||14.33 - 16.60|
|52 Week Range||3.80 - 33.77|
|Beta (5Y Monthly)||2.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 29, 2020 - Aug. 03, 2020|
|Forward Dividend & Yield||0.10 (0.80%)|
|Ex-Dividend Date||Jul. 21, 2020|
|1y Target Est||12.17|
Apache Corporation (NYSE, Nasdaq: APA) today announced it has elected to list its common stock solely on the Nasdaq Stock Market beginning June 9, 2020. The company will discontinue listing its common stock on the New York Stock Exchange and the Chicago Stock Exchange after the market closes on June 8, 2020. Additionally, the company will discontinue listing its 7.75% notes due 2029 from the New York Stock Exchange on the same date, and such notes will no longer be listed on any national securities exchange.
Oil prices started this week with a bang. WTI, the primary U.S. oil price benchmark, had rallied more than 10% by 10:30 a.m. EDT on Monday, to around $32.50 a barrel, while Brent, the global oil price benchmark, jumped more than 7% to nearly $35 a barrel. The surge in crude prices buoyed most oil stocks.
RBC Capital analyst Scott Hanold maintained a Hold rating on Apache on Wednesday, setting a price target of $12, which is approximately 13.10% above the present share price of $10.61.
HOUSTON, May 14, 2020 -- The board of directors of Apache Corporation (NYSE, Nasdaq: APA) has declared a regular cash dividend on the company's common shares. The dividend.
(Bloomberg) -- With thousands of oil wells choking back or completely shutting off production, companies already are looking ahead to what may prove to be an even bigger challenge: turning wells back on.U.S. and Canadian oil producers are curbing as much as 4.5 million barrels of daily supplies, according to Plains All American Pipeline LP. In the U.S. alone, drillers have announced plans to halt more than 600,000 barrels of daily output this month and next, said Rystad Energy AS. Old-style, conventional wells were the first to go down and the closures are expanding to some of the horizontal gushers that represent shale drillers’ prize assets.Although shutting down a well can be a relatively simple -- and even remote-controlled -- process, industry executives and their engineering teams aren’t altogether sure how smoothly an idle well can be restarted.“When you shut in wells, especially for a long period of time, you have a lot of surprises,” Clay Bretches, an executive vice president at Apache Corp., said during a conference call with analysts on Thursday. “Some of them are good and some of them are bad.”EOG Resources Inc., the world’s second-largest independent oil explorer by market value, is curtailing about one-fourth of its production and canceling almost 40% of new wells it had planned to bring online this year.An in-house analysis of 11 wells that were idle for an average of 23 days found they had a spike in production upon reopening, a sign that the reservoir suffered no damage, Houston-based EOG said in a slide presentation.Complete ShutdownsExecutives are careful about disclosing which wells are being curtailed -- which involves squeezing back on the volume of crude flowing out of the well -- versus those that are completely shut down. That’s because reversing a total shutdown presents a more challenging set of tasks and costs.Noble Energy Inc. is curbing daily output this month by as much as 10,000 barrels, mostly by completely shutting wells rather than choking back a portion of production.A portion of the company’s older wells may be difficult to reopen “but we should be able to restart most of the wells over time,” said Chief Operating Officer Brent Smolik. “You can almost think of them as storage, where we’re just storing it in the ground and then they’ll respond pretty quickly when we turn them back on.”Company executives told analysts during a conference call Friday that they hope to be able to restart most of those wells “over time.”Houston-based Apache has shut about 2,500 wells, and Bretches said the company is taking “great pains” to make sure they’re being preserved. That includes preventing corrosion and maintaining equipment that sits atop the well in remote fields.WPX Energy Inc., which plans to shut in a total of about 45,000 barrels of oil a day this month and possibly next, said it could be as simple as remotely opening up valves or speeding up electric pumps installed at the bottom of some wells. But the company cautioned against the expectation that it could be done quickly.Restoration Costs“It wouldn’t be as simple as ‘just give us a couple days and we’ll be back up running at 100%,’” said WPX Chief Operating Officer Clay Gaspar. “Anybody who says that, they’re probably short-changing their field organization just a touch.”That’s why deciding whether to shut a well involves more than just comparing operating costs and oil prices, according to Rystad. Producers also must weigh the cost and mechanical difficulty of restoring those wells back to pre-curtailed volumes.“When you start back up from the level we’re at, we do expect to have some start-up capital,” said Jeff Alvarez, head of investor relations of Occidental Petroleum Corp., which is shutting down about 5% of its production next month. “It’s things like, just when I spend $1 today, I don’t get production for a couple of months from that.”Cimarex Energy Co. said the obstacles to reopening wells mostly revolve around speed and costs, rather than any threats to the structural integrity of the rocks themselves. The Denver-based explorer held an internal technical session recently that looked at how its reservoirs would be affected by shut-ins, and the results showed that they were likely to be “just fine.”Pipeline Capacity“We think we’re in pretty good shape with our reservoirs to shut them in and bring them back when we need,” CEO Tom Jorden said during a conference call.Oil companies aren’t the only ones who have to think about the long-term impacts of shuttered wells. Millions of miles of pipelines crisscross the continent to haul crude from the field to refineries and export terminals. As supplies drop, so does demand for pipeline capacity.Pipeline operator Targa Resources Corp. was asked Thursday if the wells its system serves would ever ramp up to previous volumes.“I think for the most part, we’d expect the shut-in volumes to come back and perform well,” Targa CEO Matt Meloy said. “Could there be some older, really low-rate vertical wells ... which they shut-in and just don’t bring back? I think there could be some amount of those.”(Updates with EOG’s analysis in fifth, sixth paragraphs; Noble shut-ins in eighth, ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Thank you for standing by, and welcome to the Apache Corporation first-quarter 2020 earnings announcement webcast. Good morning, and thank you for joining us on Apache Corporation's first-quarter financial and operational results conference call. Clay Bretches, executive vice president of operations; and Dave Pursell, executive vice president of development planning, reserves, and fundamentals, will also be available on the call to answer questions.
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America
Benchmarks closed mixed on Wednesday as data showed that private payroll had furloughed more than 20 million workers in April, highlighting the economic impact of the pandemic.
Shares of oil companies Devon Energy (NYSE: DVN), Continental Resources (NYSE: CLR), and Apache (NYSE: APA) rose more than 80% in April, according to data provided by S&P Global Market Intelligence. Meanwhile, Continental's share price more than doubled, up 114% to close the month at $16.39/share. For investors who bought in after the oil price crash of early March, these three oil producers have delivered handsome returns.
Apache's (APA) Q1 oil and natural gas production declines 7% from the year-ago quarter due to lower contribution from the MidContinent/Gulf Coast region.
Apache (APA) delivered earnings and revenue surprises of 56.67% and -0.17%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
HOUSTON, May 06, 2020 -- Apache Corporation (NYSE, Nasdaq: APA) today announced first-quarter 2020 results on its website at www.apachecorp.com or investor.apachecorp.com as.
Apache Corporation (NYSE, Nasdaq: APA) (the “Company”) today announced that, due to the ongoing public health risks and safety concerns related to the coronavirus (COVID-19) pandemic, the location of the Company’s annual meeting of shareholders has been changed to a virtual-only format, as described below. Shareholders will not be able to attend the meeting in person. Shareholders of Record: Each holder of record of the Company’s common stock as of the close of business on March 16, 2020 may attend and vote at the annual meeting by accessing the URL set forth above and following the online instructions, which will include entering the meeting code set forth above (which is case sensitive) and the record holder’s unique control number, which may be found on the proxy card or notice of internet availability of proxy materials previously received by the record holder.
HOUSTON, April 20, 2020 -- Altus Midstream Company (Nasdaq: ALTM) (“Altus”) will host its first-quarter 2020 results conference call Thursday, May 7, 2020, at 1 p.m. Central.
Apache Corporation (NYSE, NASDAQ: APA) today provided supplemental information regarding certain first-quarter 2020 financial and operational results. Apache Corporation will host its first-quarter 2020 results conference call on Thursday, May 7, 2020, at 10 a.m. Central time.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak. In what is likely to be its largest rescue effort ever, the Fed said it would work with banks to offer 4-year loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities. The financial index rose 6.09%, providing the biggest boost to the S&P 500 as banks rose sharply on the Fed's backstop.
U.S. stock index futures edged lower on Thursday as investors braced for another staggering weekly jobless claims number, while oil prices rose on hopes of sweeping production cuts. Weekly initial jobless claims, the most timely data on economic health, are expected to have surged to 15 million in the past three weeks, even with figures for the week ended April 4 likely to slip to a seasonally adjusted 5.25 million, according to a Reuters poll of economists. "The virus situation in the U.S. had been worsening day by day last week and we wouldn't be surprised if we get a new record (in jobless claims)," said Charalambos Pissouros, senior market analyst at JFD Group.
With global infections topping 1 million and more U.S. states implementing stay-at-home orders, economists have slashed their forecasts for U.S. real GDP. Morgan Stanley now expects U.S. real GDP to plunge 38% in the second quarter. At 07:04 a.m. EDT, Dow e-minis were down 203 points, or 0.95%, S&P 500 e-minis were down 21.25 points, or 0.84% and Nasdaq 100 e-minis were down 64.25 points, or 0.84%.
The conventional plays offshore Suriname are especially significant for Apache as it follows the U.S. oil and gas producer's failed bet in the Alpine High region of the Permian basin, which has suffered from diving natural gas prices. Apache's second major find was made at the Sapakara West-1 well drilled offshore Suriname on Block 58, which comprises 1.4 million acres, the companies said on Thursday, adding that the third and fourth exploration well locations in the block have been identified. The well was drilled by a water depth of about 1,000 meters and encountered 79 meters net pay of high-quality volatile oil and condensate.
Big Oil’s stocks soared on Thursday, following the surge in oil prices after U.S. President Donald Trump said that he hoped for a large output cut from Russia and Saudi Arabia