FY18 output guided higher on US growth
A strong operating performance helps APA put the travails of H217 behind it, with the US delivering a good quarter. Domestic output was 4% above guidance at 233kboe/d, with the Permian +24% YoY to a record 183kboe/d. FY18 output is guided 2% higher. Lower well costs and good initial flow rates at the Alpine High project are encouraging signs.Apache is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. The company had exploration and production operations in United States, Egypt, and offshore United Kingdom in the North Sea. The company also has exploration interests in Suriname. The company markets its United States crude oil production to main oil companies, marketing, and transportation companies, and refiners based on a West Texas Intermediate price or other regional pricing indices. The company has two international regions: The Egypt includes onshore conventional assets in Egypt's Western Desert. The North Sea region includes offshore assets based in United Kingdom.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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