Businessweek

Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. The company has exploration and production interests in six countries, such as the United States (U.S.), Canada, Egypt, Australia, the United Kingdom North Sea (North Sea), and Argentina. North America The company’s North American asset base primarily comprises operations in the central U.S., the Permian Basin, the Gulf Coast onshore and offshore areas of the U.S., and operations in Western Canada. U.S: The company has 12.3 million gross acres across the U.S., approximately 60 percent of which is undeveloped. The company divided its assets into five regions, such as Central, Permian, Gulf of Mexico Shelf, Gulf of Mexico Deepwater, and Gulf Coast Onshore. It also has leasehold acreage holdings in Alaska. Central Region: The Central region includes approximately 3,500 producing wells primarily in western Oklahoma and the Texas panhandle, and controls approximately 1.9 million gross acres. The company has also been drilling Canyon Wash wells on approximately 92,000 net acres in the Whittenburg basin. In 2012, the company drilled and completed 7 wells in the Canyon Wash, which averaged 30-day gross rates of approximately 675 barrels of oil or natural gas liquids per day and 500 thousand cubic feet of natural gas per day. Permian Region: The company’s Permian region controls approximately 3.5 million gross acres with exposure across every major play in the Permian Basin. The company operated 12,000 wells in 152 fields, including 47 waterfloods and 7 active CO2 floods, including the Roberts Unit, which initiated CO2 injection in January 2013. Gulf Coast Regions: The company’s Gulf Coast assets are primarily located in and along the Gulf of Mexico, in the areas onshore and offshore Texas, Louisiana, Alabama, and Mississippi. The area is divided into three regions, which include the Gulf of Mexico Shelf, Gulf of Mexico Deepwater, and Gulf Coast Onshore. The company owned approximately 900,000 gross acres across 166 blocks as of December 31, 2012. U.S. Marketing: The company’s natural gas is sold primarily to local distribution companies, utilities, end-users, and integrated major oil companies. It primarily markets its U.S. crude oil to integrated major oil companies, marketing and transportation companies, and refiners. Canada The company holds approximately 7 million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. In 2012, the company drilled or participated in drilling 169 wells in Canada. The company’s Canadian natural gas marketing activities focus on sales to utilities, end-users, integrated major oil companies, supply aggregators, and marketers. Canadian crude oil production is sold to integrated major companies, refiners, and marketing companies. International The company’s international assets are located in Egypt, Australia, offshore the United Kingdom in the North Sea, and Argentina. Egypt: The company controls 9.7 million gross acres in Egypt’s Western Desert. Throughout 2012, it averaged running 25 rigs, and drilled 188 development and injection wells and 51 exploration wells. Australia: The company’s holdings in Australia are focused offshore Western Australia in the Carnarvon, Exmouth, and Browse basins. Production operations are located in the Carnarvon and Exmouth basins. In total, the company controls approximately 7.9 million gross acres offshore Western Australia through 30 exploration permits, 17 production licenses, and 13 retention leases. Approximately 90 percent of its acreage is undeveloped. During 2012, the company participated in drilling 15 offshore wells, of which 10 were exploration or appraisal wells. It has a 29-percent non-operating working interest in the field and gas plant. The company directly markets its Australian crude oil production into Australian domestic and international markets. North Sea: The company owns 97-percent working interest in the Forties field. In 2012, 21 wells were drilled in the North Sea, of which 16 were productive. Argentina: The company has operatio