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 $635 million in consolidated operating cash flow from operations during the third quarter of 2019. Oil and Gas revenues come from three central areas:
Source: APA Presentation
The US Shale, and particularly the Permian Basin, continues to drive the company's growth with noticeable results. However, continued weakness in natural gas prices forced the company to revise its outlook. Alpine High produced ~71K Boep/d during the third quarter, and