Apache Corp. has mapped out thousands more Alpine High drilling locations in West Texas since unveiling the Permian Basin play a year ago, and while wet gas remains the No. 1 target, dry natural gas and oil targets continue to emerge.
Articles from High
Apache Corp.’s ballyhooed Alpine High field in West Texas should have four additional midstream processing facilities coming online through the end of the year, with the southern trunkline to the Waha Hub scheduled to ramp in September, opening key delivery points and reducing bottlenecks, management said Thursday.
January natural gas is set to open 6 cents higher Friday morning at $3.75 as weather forecasts continue to provide a strong underpinning to the market. Overnight oil markets rose.
Lest there be any doubt that Apache Corp. is feeling its oats about the natural gas-rich Alpine High in West Texas, consider this: the 2016 planned capital allocation of $100 million has risen to $500 million, with a 60-mile 30-inch diameter gas pipeline now on the drawing board.
November natural gas is set to open 3 cents lower Friday morning at $2.93 as traders focus on at least another weak of light demand. Overnight oil markets fell.
October natural gas is set to open 2 cents higher Tuesday morning at $2.59 as traders look to exit existing short holdings and at the same time study the possibility of a triple-digit storage build report to come on Thursday. Overnight oil markets fell.
With the exception of a few “hot spots,” physical natural gas for weekend and Monday delivery traded lower Friday.
May natural gas is set to open 2 cents higher Thursday morning at $2.63 as traders await a government inventory report that could show additions or decreases. Overnight oil markets plunged.
February natural gas is expected to open 15 cents higher Monday morning at $3.15 as traders factor in bone-rattling cold across key energy markets. Overnight oil markets plunged.
February natural gas is expected to open 5 cents lower Tuesday morning at $3.15 as traders reassess weather forecasts and prepare for a volatile market. Overnight oil markets fell.