A decade on from shareholders pushing for a country exit (MEES, 17 October 2014), Egypt returned to (joint) top billing in Apache’s Q4 results on 27 February. The US independent says it is “building a sustainable base, anchored by [the] Permian and Egypt.”
Following a late-2024 agreement that brings “gas-focused investment to economic parity with oil,” by hiking the price for new gas output to $4.25/mn BTU (MEES, 15 November 2024), Apache is increasing gas-focused drilling in the Western Desert, home to all of its Egypt acreage. In January it signed up to five more blocks totaling 6,300km², a 30% acreage hike (MEES, 10 January). (CONTINUED - 1059 WORDS)
