What percentage of Apache are Altus employees? What’s next for Apache…slimming down to be acquired?
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Will they continue to charge the excessive gathering/transportation charges at Alpine? It’s different now the APA recoups only 20% instead of 70%.
Less payroll Smaller company. Some depts can’t hire. Hmmmmmm
One must wonder to whom CB’s fiduciary duties are owed, and if he truly got the best deal for Altus or APA. Something about not being able to serve two masters comes to mind….
Of course, why Altus and APA ever thought it was a good idea to share an executive is a question that I’ve never seen an answer to.
And, as an aside, with the transaction, I guess APA won’t be able to squeeze dividends from Altus to goose the quarterly numbers, so what is the big boss going to do now to hit the numbers?
Read the deal terms, Altus wasn’t sold, at least not yet. We’ll own 20% if the new (much larger, hence the smaller interest) company, and we can only sell so many shares within the first 12-months, and if we do sell shares in that time-frame, some of the money has to be used to fund Alpine High activity.
Company will be run by new management from the other party, operations employees will transfer to the new company.