Image: Drillship Noble Sam Croft Courtesy: Noble Corp. (NE)
Investment thesis
The Houston-based Apache Corp. (APA) is an independent oil and gas producer operating in three different regions and has earned $635 million in consolidated operating cash flow from operations during the third quarter of 2019.
The company has been struggling for years mainly due to its Permian Basin natural gas asset called Alpine High and a lousy natural gas price that forced the company to curtail production and redirect CapEx to better oil-producing segments in Q3'19.
Apache's shareholders have been suffering from an outperforming