Apache Corporation (NYSE:APA) is about to release earnings results. Ponder this Bear Case Scenario:
Political risks abound with foreign exploration. Exposure in Egypt is just an example of how out of control and un-manageable these risks are.
Deepwater drilling has its own set of very real risks. Not to mention long lead times and enormous capex requirements.
The recent $18 Billion spending spree has given Apache a lot to digest. Gulf of Mexico uncertainties abound with risk.
George Gutowski writes from a caveat emptor perspective.