Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt, and the United Kingdom North Sea.
Apache was formed in 1954 with $250,000 of investor capital with the simple concept of becoming a significant and profitable oil and gas company, run for the long-term benefit of its shareholders. Today, Apache Corporation is one of the world's top independent oil and gas exploration and production companies.
While historically known as an “acquire and exploit” company, after a series of successful acquisitions between 2010 and 2012, the strategy now is to grow through the drill bit. The company has an enviable portfolio that includes diversity across oil, domestic gas as well as opportunities in nearly every play type; conventional, unconventional, onshore and offshore, both in domestic and international basins.
The Company is opportunity rich with an extensive inventory of near-term and future development projects, and a challenge they face is balancing capital allocation to generate near-term growth as well as fund future long-term developments, which have the potential to serve as cornerstones for continuing growth for decades.
The next resource play that will demand the attention of Apache is Alpine High. Alpine High acreage lies in the southern portion of the Delaware Basin, primarily in Reeves County, Texas. The company estimates hydrocarbons in place on its acreage position are 75 trillion cubic feet (Tcf) of rich gas (more than 1,300 British Thermal Units) and 3 billion barrels of oil in the Barnett and Woodford formations alone. Apache also sees significant oil potential in the shallower Pennsylvanian, Bone Springs and Wolfcamp formations.
Apache’s Planning team provides analytical support to the executive team on key areas such as capital allocation, funding capacity, portfolio management, long-term strategy and operational performance among others. The group is exposed to critical information and interacts closely with the executive team, normally under tight deadlines, to support their decision making process. Specific responsibilities include:
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