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Apache Corp. Message Board

  • mightypandasp mightypandasp Feb 15, 2013 8:22 AM Flag

    Gas fine

    Gas is fine out of us and oil good everywhere. They purchased great assests but dont tell me they could have paid bp half of the 7 billion they paid for perma basins and saved a gang of money. Especially with gas dropping off the way it did making it only worth 2.8-3.2 billion. Close to 4 billion writeoff and bp had no choice they would have sold for 3.5 or less easily. Bad choice and stupid price when bp is in despert need of cash. This is one of my lucky picks as I rode it to the highs got out and wanting to get in for 8 months finally pulled the trigger at almost 80. Like 80.50 to be exact. If it drops to 75 Ill double up. Cant be that bad but if they would have paid less they could have gave us some money back.

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    • The $7B APA paid BP included $31.B for Permian, $3.1B for Western Canadian and $0.65B for Egyptian Western Desert assets. The Permian purchase has allowed APA to boost crude and liquids production immediately. The Canadian purchase will pay off in due time, and the Egypt purchase is an instant winner in a region starved for more production at higher prices. APA just needs to manage costs, and you will find that you are sitting on a gold mine ... make that a black gold mine, since the yellow stuff is not faring much better due to the strength of the US dollar.

 
APA
103.12+4.56(+4.63%)Jul 22 4:08 PMEDT

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