Apache’s 2017 production guidance
Apache’s (APA) total adjusted production is expected to average 398.0 Mboepd–415.0 Mboepd (thousand barrels of oil equivalent per day) in 2017. Production between 4Q16 and 4Q18 is expected to grow at a compound annual growth rate of 7.0%–13.0%.
Permian Basin operations
Apache expects its Permian operations, including Alpine High, to drive its future cash flows and production growth. Increased Permian spending is expected to lead to 55.0% Permian production in 4Q18—compared to 36.0% in 4Q16. Midland and Delaware productions are expected to grow at a CAGR (compound annual growth rate) of more than 50.0% between 4Q16 and 4Q18. Oil (DBO) production growth in these regions is expected to grow at a CAGR of 14.0%–21.0% between 4Q16 and 4Q18.
The Alpine High resources play is located in the Delaware Basin. It will be key for future production growth. In 2017, Apache plans to operate four to six rigs in the Alpine High play. It will operate 60–80 wells per year in the Woodford and Barnett plays. Apache plans to ramp up production in Alpine High discovery in 2H17.
North America and international production
Apache’s North America onshore production is expected to average 252.0 Mboepd–263.0 Mboepd. For 2017, its international and offshore production is expected to average 234.0 Mboepd–243.0 Mboepd.