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U.S. oil producer Apache Corp on Friday said it was suspending drilling in the North Sea and reducing its British workforce because high taxes have made the operation less competitive, according to a Reuters report.
HOUSTON, June 9 (Reuters) - U.S. oil producer Apache Corp on Friday said it was suspending drilling in the North Sea and reducing its British workforce because high taxes have made the operation less competitive. The unit of A... | 11:44am
US oil producer Apache Corp on Friday said it was suspending drilling in the North Sea and reducing its British workforce because high taxes have made the operation less competitive. The unit of APA Corp did not say how many workers would be cut as a result of the move. The UK last May imposed a windfall profit tax on oil and gas producers that was raised to 35% in November,
And what a difference it was! In Apache Corp. v. Apollo Expl. LLC et al, Apache and others acquired an oil and gas lease on 100,000+ acres in the Texas Panhandle. The primary term was...
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