Apache’s oil production
Crude oil represented 53.0% of Apache’s (APA) total production in 3Q17. As you can see in the graph below, crude oil’s share as a percentage of total production has mostly remained steady between 3Q15 and 3Q17.
The above graph shows that while APA’s total production has varied since 3Q15, oil’s share in APA’s total production has remained steady.
It will be interesting to see how production from APA’s Alpine High Resource play in coming years will impact its existing production mix. The play is believed to be rich in wet gas and oil. APA has highlighted that Alpine High consists of three primary plays, including a wet gas play that contains the majority of its currently identified locations and a smaller dry gas play that it considers to be “economic and an emerging oil play with tremendous future potential.” APA noted on its 3Q17 earnings conference that it believes “there is significant upside potential to all of these location counts.”