Apache Corporation will provide an update to investors at its North American Update conference in New York.
Highlights from the Update include:
• Apache forecasts 2015 North American onshore liquids growth of 12 to 16 percent when adjusted for 2014 asset sales. On a barrel of oil equivalent (BOE) basis, the company projects 2015 North American onshore production growth of 8 to 12 percent. This forecast assumes a preliminary North American onshore exploration and production capital budget of approximately $4 billion.
• The company presented a five-year compounded annual production growth outlook for onshore North American liquids of 12 to 16 percent and 8 to 12 percent on a BOE basis.
• During 2014, Apache has added more than 300,000 acres of leasehold in key growth plays.
• The company has substantially increased its drilling inventory in the Eagle Ford and Canyon Lime plays of Texas to more than 3,000 and 800 locations, respectively.
• The company has agreed to sell non-core southern Louisiana and certain Anadarko Basin oil and gas assets for approximately $1.4 billion in two separate transactions.