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Apache’s Key 3Q16 Operational Highlights

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Nov. 7 2016, Updated 4:04 p.m. ET

Apache’s key operational highlights

Apache’s (APA) 3Q16 pro forma production volumes totaled 438 Mboepd (thousand barrels of oil equivalent per day). In comparison, its 3Q15 production volumes totaled 542 Mboepd. Apache’s 2Q16 production volumes totaled 461 Mboepd.

Apache’s North American onshore production averaged 270 Mboepd in 3Q16. Its international and offshore production averaged 168 Mboepd in 2Q16.

Apache is an oil-heavy producer. About 52% of its 3Q16 production volumes were made up of oil. About 78% of its total 3Q16 oil and gas revenues came from oil.

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Apache’s 3Q16 realized prices

Apache’s average realized price of crude oil (OIL) and condensates fell from $46.30 per barrel in 3Q15 to $44.35 per barrel in 3Q16. Its average realized price for natural gas (UNG) fell from $2.89 per thousand cubic feet in 3Q15 to $2.59 per thousand cubic feet in 3Q16. Its average realized price for natural gas liquids rose from $8.41 per barrel in 3Q15 to $9.97 per barrel in 3Q16.

Apache’s 2016 production guidance

Apache’s North American onshore production is expected to be 268–278 Mboepd. Its international and offshore production for 2016 is expected to be 170–180 Mboepd. Its total pro forma production is expected to be 438–458 Mboepd.

In comparison, Cimarex Energy (XEC) expects a year-over-year fall of 2% in its 2016 production at the mid-point compared to 2015 levels.

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