What is the predicted outcome for Apache in the North Sea? They are looking at a 4 billion dollar Abandonment responsibility. How will JC handle this unprecedented challenge? Production declining like he-l and maintenance on basic life support. Who or How is this paid?
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It is the death knell for the Apache Corporation part of APA. It will drag down the other two assets in that org (US and Egypt) and leave only APA Suriname and Uruguay standing for the taking by another company. Suriname is likely going to TE and Uruguay is going to die on the vine or Shell will take it all.
In either case JC and their boyhood buddies will be counting their cash while everyone else gets f’ed.