Bus. Devt: Apache’s Adaptation to the Oil Price Decline

Speaker: John Christmann, CEO of Apache
Speaker John Christmann, CEO of Apache
John J. Christmann, IV was appointed chief executive officer and president effective Jan. 20, 2015, and joined the company's board of directors on Jan. 20, 2015. He previously served as executive vice president and chief operating officer – North America, since January 2014, region vice president – Permian Region from 2010 ...

John J. Christmann, IV was appointed chief executive officer and president effective Jan. 20, 2015, and joined the company's board of directors on Jan. 20, 2015. He previously served as executive vice president and chief operating officer – North America, since January 2014, region vice president – Permian Region from 2010 through 2013, vice president – Business Development, since January 2004, and production manager for the Gulf Coast Region since April 2003. Prior to that, Christmann held various positions of increasing responsibility in the business development area since joining the company in 1997.


Previously, he was employed by Vastar Resources/ARCO Oil and Gas Company in business development, crude oil marketing and engineering assignments.


Christmann is a member of the Texas Tech University Petroleum Engineering Academy. He received his bachelor’s degree in petroleum engineering from the Colorado School of Mines and MBA from Southern Methodist University.

Full Description

Sponsor:    BMO Capital Markets

*Please note that the prices listed in the January GCS Connect newsletter were incorrect. The correct prices are shown here. We apologize for any inconvenience.

Apache has responded to the industry downturn with a comprehensive approach that positions it very well for current and future success. Early in 2015, the company aggressively reduced its activity levels and capital spending to align with the significant decline in oil prices.  From peak levels, Apache’s worldwide rig count has declined by approximately 90 rigs.   The company has streamlined its portfolio and strengthened its balance sheet through $10.5 billion of non-strategic asset sales in 2014 and 2015.  Apache has also realigned its management and organizational structure, resulting in material G&A cost savings.  Throughout this period of significant change and evolution, Apache’s asset base and operational teams have continued to deliver, which has resulted in the company consistently exceeding its 2015 world-wide production targets.  With a keen focus on maximizing recovery and minimizing costs,  Apache is continuing to expand its North America resource opportunity through a combination of 1) acquiring acreage and seismic data at lower costs 2) targeting areas with stacked pay and 3) embracing the financial flexibility provided by its relatively low decline rate and long-life assets.

We welcome you to join us for this informative discussion, as well as the fellowship and networking of the popular Social Hour at 5:00 pm.

 

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2016: February 24,  April 6, April 27,  May 25, NEW! June 22

When?

Wed, Jan. 27, 2016
5 p.m. - 7 p.m. US/Central

How Much?

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Where?

Four Seasons
1300 Lamar St
Houston, TX 77010
United States

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