Accessibility Links

US oil producer Apache raises production forecast

06 Nov 2015
Apache Corp has joined a growing list of U.S. oil producers raising full-year production forecast, as the rest of the industry cuts spending.

The $19 billion Houston-based driller said it now expects its North American operations to pump up to 309,000 barrels of oil per day in 2015, up 2% from last year.

It’s the latest illustration of how asset sales and falling labour and energy costs, along with improved efficiency, are helping the industry weather a near 60% drop in crude prices since last June.