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|Subject: Apache, part 1||Date: 1/26/2004 3:08 PM|
|Author: HamletsMill||Number: 28029 of 46904|
Since there was some interest in examining Apache here, and it presently is one of my larger long term holdings (I first bought APA in 1995), I thought I would start this research thread.
Apache Corporation is one of the largest independent oil and gas exploration and development companies with operations in the United States, Canada, Egypt, Australia, the United Kingdom North Sea, China and Argentina.
It is, in the energy industry, a "pure-play". That is, its revenue stream derives principly from it production of oil and gas -- it doesn not refine or retail to any extent.
One of the distinctive features of Apache is its relative youth, compared to its peers It was started 50 years ago in Minneapolis, Minn. Raymond Plank, the current chair, was one of the three co-founders. It started its oil operations with a small production of 800 barrels per day in Oklahoma and Kansas. Presently it produces 800 barrels of oil equivalent in about three minutes – with operations in seven countries.
For several decades it was a diversified company, itMi> “grew oranges and sold auto parts in California, manufact