ALTM - Apache Corp.: Permian Production Keeps Growing
Image Courtesy: Reuters - Permian Basin.
Investment Thesis
The Houston-based Apache Corp. (APA) owns oil and gas assets in three different regions and has earned $598 billion in consolidated operating cash flow from operations during the first quarter of 2019.
Source: APA Presentation
The US Shale and particularly the Permian Basin continues to drive the company's growth with good results. Alpine High has reached 70K Boep/d during the first quarter, and Permian production reached 247.9K Boep/d in 1Q'19.
The issue we are confronted with Apache is that the company invested heavily in its