Anyone want to give their projections on what's going to happen at Apache? Industry in general?
3 replies (most recent on top)
As far as I know Apa is not planning to get leases from Federal Lands
Apache just got done bumping back and laying off a bunch more Permian field guys. Anybody tied to the old, real Apache is walking dead. The only old Apache's left are the s*&k a#$es.
Nothing's gonna happen or change. it's simply a symbolic gesture for the environmentalists. The pause is on NEW leases. Anything that is even remotely considered profitable (the antithesis of Apache philosophy) has already been leased. Apache and much of the industry, in general, has been bleeding money and been the worst-performing sector of the S&P in 4 out of the last 5 years. That's what the former administration did for the industry. Unfortunately, we have a CEO that hasn't recognized that and has padded his and his lackey's pockets and milked shareholder value. This will just be used as an excuse to cut field jobs so save their sorry a$$es.