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AOIP Apache Offshore Investment Partnership

Apache Offshore Investment Partnership, a Delaware general partnership (the Investment Partnership), was formed on October 31, 1983, consisting of Apache Corporation, a Delaware corporation (Apache or Managing Partner), as Managing Partner and public investors (the Investing Partners). The Investment Partnership invested its entire capital in Apache Offshore Petroleum Limited Partnership, a Delaware limited partnership (the Operating Partnership), of which Apache is the sole general partner and the Investment Partnership is the sole limited partner. The primary business of the Investment Partnership is to serve as the sole limited partner of the Operating Partnership. The primary business of the Operating Partnership is to conduct oil and gas development and production operations. The Operating Partnership conducts the operations of the Investment Partnership. The Investment Partnership does not maintain its own website. However, copies of this Form 10-K and the Investment Partnership’s periodic filings with the Securities and Exchange Commission (SEC) can be found on the Managing Partner’s website at www.apachecorp.com/Offshore_Investment_Partnership. The Investment Partnership will also provide paper copies of these filings, free of charge, to anyone so requesting. Included in the Investment Partnership’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are the certifications of the Managing Partners’ principal executive officer and principal financial officer that are required by applicable laws and regulations. Any requests to the Partnership for copies of documents filed with the SEC should be made by mail to Apache Offshore Investment Partnership, 2000 Post Oak Blvd., Houston, Texas 77056, Attention: Investor Relations, or by telephone at 1-281-302-2286. Reports filed with the SEC are also made available on its website at www.sec.gov.

Company profile

Calendar

6 May 21
28 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 4.53M 4.53M 4.53M 4.53M 4.53M 4.53M
Cash burn (monthly) (positive/no burn) 25.38K (positive/no burn) (positive/no burn) (positive/no burn) 29.54K
Cash used (since last report) n/a 99.27K n/a n/a n/a 115.53K
Cash remaining n/a 4.44M n/a n/a n/a 4.42M
Runway (months of cash) n/a 174.7 n/a n/a n/a 149.6

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • The Partnership reported a net loss of $63,840 ($65 per Investing Partner Unit) for the first quarter of 2021 compared to a net loss of $21,657 ($25 per Investing Partner Unit) in the first quarter of 2020.
  • Total revenues in the first quarter of 2021 increased 4 percent from the first quarter of 2020, primarily the result of higher crude oil and gas realized prices. The increase in realized prices was primarily the result of increased economic activity during the first quarter of 2021 compared to the same prior year period when commodity prices collapsed as a result of economic uncertainty stemming from the coronavirus disease 2019 (COVID-19) pandemic. The Partnership’s crude oil, natural gas, and NGLs production volume and price information is summarized in the following table (gas volumes are presented in thousand cubic feet (Mcf) per day):
  • The Partnership’s crude oil sales for the first quarter of 2021 totaled $225,221, increasing 10 percent compared to $204,469 in the first quarter of 2020. The Partnership’s average realized oil price in the first quarter of 2021 increased $7.71 per barrel from the first quarter of 2020, increasing sales by $35,360. Crude oil volumes decreased to 48 barrels per day in the first quarter of 2021, compared to 50 barrels per day in the prior year period, primarily from natural declines at South Timbalier 295. The decrease in production reduced oil sales by $14,608.
Content analysis
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Positive
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Uncertain
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Legalese
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Readability
H.S. sophomore Avg
New words: maintenance, repair, stemming, treatment, vaccine
Removed: declining, decommission, environment, field, income, infrastructure, previously, recent, recognize, remote, support, unplanned, upward, working

Proxies

No filings