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In the P&J, 30/10/09, Apache proudly boasted that production on the Forties Field through July averaged 71,472 barrels per day. Taking an average of $70 per barrel (its been nearer $80 for quite some time now), that's $5,003,040 per day. It’s widely quoted on here that it costs $11 per barrel to extract (that's all costs incurred). That amounts to $786,192 per day. When you take away the associated costs from the yield, it amounts to $4,216,848 PER DAY PROFIT

Why would Apache be wanting to put folk on 3 on/3 off, and with no pay rises (despite their own guys getting 4% backdated) on a cost cutting exercise?


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