Apache Suspends Canada Drilling, Trims Budget

摘要

Apache is freezing its drilling program m gas-rich Canada this year as part of a broader plan to scale back its ambitious North American development program in response to low oil and gas prices. Chief Executive John Christmann said Apache will lay down its last working Canadian rig in March. Even without any working rigs, Christmann said the region will spend slightly more cash flow than it generates in 2015. All of the Apache's Canadian well completions this year will contain a liquids component. The company is completing a seven-well pad in the Duvernay Shale and a two-well pad in the Montney Shale. Both are in Alberta.