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Kimmeridge Criticizes High Executive Pay by US Oil Producers
Short-term incentive payout as a percentage of target exceeded 100% for 7 of the 27 U.S. oil and gas companies reviewed by Kimmeridge, with CNX Resources, Range Resources, EQT and APA, formerly Apache, at the top of the list.
Industry Veteran Steven Keenan Resigns From Apache
Steven Keenan, who was credited with the high-profile Alpine High discovery, resigned from his position as senior vice president of worldwide exploration of Apache Corp.
Apache Reorganizes Operations As Oil Prices Remain Weak
Apache said it has reduced drilling activity at Alpine High and deferred completion activity into next year, resulting in a 5% decrease in production from the Permian Basin in the current quarter.