Apache’s oil production
Crude oil represented 53.0% of Apache’s (APA) total production in 4Q16. Crude oil’s share as a percentage of total production has mostly remained steady between 4Q14 and 4Q16.
The above graph shows that while APA’s total production has varied since 4Q14, oil’s share in APA’s total production has remained steady.
It will be interesting to see if APA’s latest discovery, the Alpine High Resource play, will impact its existing production mix. The play is believed to be rich in wet gas and oil. APA estimates that its acreage in the Alpine High has around 3.0 billion barrels of oil and about 75.0 Tcf (trillion cubic feet) of rich gas.