Description
Join the Business Development Study Group at the Four Seasons Hotel as Apache’s John Christmann will update us on the resurgent Permian Basin and Apache’s view of the growth opportunities presented by its recently acquired inventory. The popular format of a Business & Social Networking hour, with complimentary Hors’ D’ Oeuvres and a cash bar, followed by an hour-long program, will begin at 5:00 pm in the Mezzanine.
In May 2009, 76 rigs were active in the Permian. Viewed as an area of diminishing potential, the industry herd has stampeded away to the glamor of the new shale plays of Bakken, Woodford, Marcellus, Eagleford and, most recently, Utica. The collapse of gas prices only caused the beaucoup buckets of domestic and global cash to be more focused on the liquid prone areas of these high profile basins. Meanwhile, the established (and a few new) operators have steadily expanded their Permian presence – recognizing the potential opportunity afforded by the combination of 1) technology advancements in horizontal drilling and fracture stimulation, 2) the immense resource potential still contained in each cubic mile of the basin, 3) the flexibility of long life assets, and 4) the innovative exploitation of these attributes. These companies have now ramped up to almost 450 rigs to exploit both the “conventional” and “shale” opportunities contained within the Wolfcamp, Cline, Yeso, Bone Springs, Atoka, Spraberry – and assorted combinations thereof.
Where are these plays located? What has been Apache’s experiences? What are Apache’s plans to exploit its inventory? What are future areas of opportunity? What are the challenges facing the industry now and in the future?
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.