I think that this is a bad deal for Apache.....heading back to fortress USA.....because a major shareholder thinks that Fraccing oil/gas is the way to go...
This was ok 6mths ago....and because Apache...is slow moving and unflexable once it moved in this direction...hard for them to change direction quickly.
Then the POO and the Saudies....changed the world oil/gas dynamics.....
Apache is slow to react to the new market and have made a major error...
We all know that USA fraccing/shale/tight oil/gas is becoming unprofitable and Apache although cashed up.
Will eventually feel the pain and realise they have made an error.....
Happy to be corrected..
Dyor
It's good for CVN, page-4
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