This led to lower production in all the three quarters this year and marred the company’s earnings for the first two quarters. The company’s most recent adjusted quarterly output was 7% lower than the year-ago level.įrom January to September, Apache’s production averaged 345,495 barrels of oil equivalent per day (BOE/d), down 13% from the first nine months of 2016.

The company had to slash its spending and capex budget over the last two years to realign itself with the changed dynamics. The three-year oil industry downturn due to the global supply glut had hit Apache hard. Major Deterrents to Apache’s Growth Story Now let’s delve deep into the troubles looming over this Texas-based upstream energy player and see if its strategic endeavors can help it turn around in the year ahead.

However, it’s not the end of the road for Apache and the company has been leaning on its Alpine High discovery to remain afloat in the market, which could be its major growth driver in 2018. The company has also reported an average negative earnings surprise of 23.33% in the trailing four quarters.

Apa format on apache open office