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Apache Corp APA

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Morningstar’s Analysis

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1-Star Price

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5-Star Price

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Economic Moat

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Stewardship

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Apache’s Cost Management During Downturn Warrants Fair Value Increase

Analyst Note

| Dave Meats, CFA |

We are increasing our fair value estimate for Apache to $18 per share from $15 after taking a closer look at the firm's second-quarter earnings. The increase was mainly driven by incorporating lower-than-expected unit operating costs.

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Company Profile

Business Description

Apache, based in Houston, is one of the largest independent exploration and production companies in the world. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. At year-end 2019, proved reserves totaled 1.0 billion barrels of oil equivalent, with net reported production of 417 mboe/d (68% of which was oil and natural gas liquids, with the remainder comprising natural gas).

Contact
2000 Post Oak Boulevard, Suite 100
Houston, TX, 77056-4400
T +1 713 296-6000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 3,163

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