In past peeks at Apache
Production costs of around $9 per barrel are certainly nothing to be perturbed about. The thing that's dogging Apache now is a drop-off in production growth. At this time last year, it was reporting 17% higher flows year over year. Today, we're looking at 4% growth, which is no feast. Sure, that would be solid for a giant like Chevron
Granted, this company has some delectable drilling prospects. Recent results in Australia have doubled recoverable gas estimates in the Julimar area. Even more exciting is the company's joint venture with EnCana
So Apache is anything but prospect-poor. The company is also generating strong returns on capital employed, which I'll take over reckless growth any day of the week. Still, there are other exploration and production companies out there that are delivering the whole enchilada -- strong growth in production, reserves, and cash flows -- while also keeping a tight focus on cost structure. EnCana and Devon Energy
Related Foolishness:
- While its earnings took a hit, EnCana's no casualty.
- EOG is one exceptional explorer.
- Devon goes to eleven.