Houston-based APA Corp., parent company of Apache, said recently it expects to surpass its pre-pandemic production levels in Permian Basin by 2024Q4 with 20 percent growth compared to 2023Q4. John J. Christmann IV, CEO, said Feb. 26, “We have achieved top-tier well results and best-in-class production improvements in both the Midland and Delaware basins. The company has delivered high returns and strong oil volume growth through extensive data collection and analysis and by applying propriety workflows from planning through execution that have driven substantial drilling efficiency gains.”
APA said well productivity and per-well capital efficiency were boosted by wider spacing and larger fracs. Drilled feet per day increased 34 percent in Midland Basin and 24 percent in Delaware Basin compared to averages for 2018-20. APA is drilling both two- and three-mile laterals.