The earnings call on Thursday the 30th is sure to be one of the worst in Apache's history. In a regional damage control meeting last week, a mention of, maybe I can tell you more after the earnings call.
Yahoo Finance released an article (google it) this morning, QUOTING Apache PR, stating that the initial claim of Alpine High's potential was made without having drilled a statistically significant amount of wells. Most official statements in the past have included the Executive and the Explorer as being tied to Alpine High. Usually this means both will go in the event of a failure. One domino has dropped, just a matter of time for the next.
Apache has begun taking steps to promote the narrative that Alpine High was a one-off bad decision (other than to get into exploration) for the company and it is already looking to fund the future. The attitude has been that fundamental Apache has distanced itself from this ill planned play, and blame for poor returns as a PTC is placed solely on the Alpine High.
From the inception of Alpine High to now, Apache's value has dropped more than 50%. This is a sharp drop relative to other mid-level energy market players across the same time period.
Either an acquisition of Alpine High and neighboring assets, or consolidation of support personnel will take place. Both end the same way for San Antonio.