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 $856 million in consolidated operating cash flow from operations during the second 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, a continued setback in natural gas prices forced the company to revise outlook. Alpine High produced 49K Boep/d during the second quarter, and