2016 production guidance
Apache’s (APA) North American onshore production is expected to be 268–278 Mboepd (thousand barrels of oil equivalent per day). Its international and offshore production for 2016 is projected to be 170–180 Mboepd. Its total pro forma production is projected to be 438–458 Mboepd.
Apache’s 3Q16 production
Apache’s 3Q16 pro forma production volumes totaled 438 Mboepd. In comparison, its 3Q15 production volumes totaled 542 Mboepd. Apache’s 2Q16 production volumes totaled 461 Mboepd.
Investors will likely be interested to see whether APA’s latest discovery, the Alpine High resource play, will impact its existing production mix, given that the play is believed to be rich in wet gas and oil.
Plans for 2017
In 2017, APA plans to operate four to five or more rigs in the Alpine High play, with 60–80 wells per year in the Woodford and Barnett plays. APA plans to ramp up production in its newest Alpine High discovery in 2H17. By mid-2017, APA plans to have its in-field gathering and processing infrastructure in place.
The new Alpine High discovery is also expected to strengthen APA’s Permian position, which has been one of the company’s long-term focuses. You can read more in How Alpine High Affects Apache’s Permian Position.