June 11, 2012
Business Analysis III
Apache Corporation was formed in 1954, based on the idea of becoming significant and prosperous in the oil industry. The company took $250,000 of investor capital, paired it with fierce determination and now Apache Corporation is considered one of the top independent oil and gas exploration and production companies in the world ("Apachecorp.com", 2012). Apache Corporation operates in both domestic and international markets exploring for, developing, and producing natural gas, crude oil, and natural gas liquids ("Apachecorp.com", 2012). On December 31, 2011, the Company had production in the United States, Canada, Egypt, and Australia. Offshore production exists in the United Kingdom, the North Sea, and Argentina. Looking into the future Apache plans to continue to explore other countries for new discoveries and development opportunities ("Apachecorp.com", 2012). Environment
The success of any business depends on the ability to adapt to the environment it operates in. As part of the oil and gas industry Apache Corporation operates in a global business environment known for its competitiveness. The company has shown growth in production thirty one of the last thirty three years and throughout those years change has been a constant companion. Wide swings in oil prices have become commonplace in the world today, the price of a barrel of oil changes almost daily. Operating in other countries means that political unrest and changes in government policies must be addressed, as well as oil industry regulations that are constantly evolving. Apache Corporation has withstood the changes in business environment for 57 years and remains committed to successfully embracing the changes yet to come. Technology
Over the last 10 years the most significant technological advance for the industry has been the coupling of horizontal drilling with...