We recently sold our position in Apache and reallocated that capital to an investment in Schlumberger. The recent drop in price for both companies makes each a compelling investment at current levels; however, we firmly believe that Schlumberger carries far less risk yet offers more potential upside. Although Apache currently offers a substantial margin of safety to … Read more
Apache, a Houston-based energy company, was founded in 1954. The company employs roughly 6,000 employees around the world and today generates $16 billion in revenue and about $10 billion in cash flow from operations. At the end of February, we attended the company’s analyst day in Houston. The company’s stock price dropped over 4% on … Read more
Apache and Chevron recently announced that Chevron will be buying out Apache’s original partners, EOG and EnCana, in a liquefied natural gas project (LNG) in Kitimat, Canada. Additionally, Chevron will be buying out their interests in 644,000 gross acres in the Liard and Horn River basins (in British Columbia), and the Pacific Trail Pipeline, which … Read more
We recently added Apache Corporation, an energy exploration and production company, to our portfolio. At the same time, we sold out of our position in Total SA, the French major integrated energy company. Additionally, over the past year, we slowly scaled out of our position in ExxonMobil. The simplest explaination is that Apache offers far … Read more
Apache is among the leading independent “middle” majors, that operates with a balanced portfolio of onshore and offshore oil and natural gas properties throughout the world. Apache’s domestic assets account for about 40% of its production and close to half of its reserves, and include large acreage positions in the Permian Basin and the Anadarko … Read more