Apache’s 2017 production guidance
Apache’s (APA) total adjusted production is expected to average 398.0–415.0 Mboepd (thousand barrels of oil equivalent per day) in 2017. The graph below shows APA’s production outlook between 4Q16 and 4Q18. Production between these two periods is expected to grow at a compound annual growth rate of 7.0%-13.0%.
Production outlook for 2017
APA noted in its 4Q16 earnings release, “Once scheduled maintenance is behind us and the impact of our increased capital investment program begins to take hold, we anticipate our production volumes will steadily climb in the second half of the year when Alpine High sales volumes, increased Midland Basin activity, and the North SeaCallater development all come online. We are very confident that our portfolio is capable of delivering strong production growth and achieving the guidance we are providing today.”
APA expects its production to fall in the first half of 2017 due to scheduled downtime in the North Sea and Canada. It also expects it to fall due to reduced investment in lower-margin regions in the North American Onshore in 2016.
Apache’s (APA) 4Q16 adjusted production volumes totaled 421.0 Mboepd. In comparison, its 4Q15 production volumes were 490.0 Mboepd. Its 3Q16 production volumes were 438.0 Mboepd.