A professional in the business of oil and gas leases mentioned to me today that she had heard Apache was going to get active in the Permian Basin, Alpine High again after pulling out a couple of years ago. Our gas wells are still Apache. Went out to the Apache Corp website and found a news release indicating they are in the process of selling some assets (I think, if I read correctly, non performing assets) and invest the proceeds ($100 million) in the Permian Basin over the next two years… APA Corporation Closes Two Transactions; Receives $1 Billion of Proceeds | APA Corporation
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Thank you for the information
f100owner, given your operator is APA (apache), has Apache made any offers to lease your land? What about prices/bonus? Or are they focused on depth and minerals HBP?
We haven’t heard a thing from them. I would be hopeful. They had indicated when they drilled our wells we had the potential for several more back in 2018. Of the wells they drilled then, 6, 4 are producing. A couple of wells went off-line in February due to mechanical issues, they said, but were back online and producing the next month. Personally, I would like to see them rework the non producers, but I am not technically knowledgeable enough to know if such is feasible or practical.
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