Apache Corporation Names Executive Leadership for the Operations and Development Functions within Redesigned Organizational Structure

Dave Pursell named EVP, Development; Clay Bretches named EVP, Operations

HOUSTON, March 04, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (NYSE, Nasdaq: APA) today announced details regarding its new organizational structure and key leadership roles. As announced in October 2019, the company has undertaken a comprehensive redesign of its organizational structure and operations to further align its work processes and cost structure with long-term planned activity levels.

The new design will enable more effective management of Apache’s diverse portfolio of assets through centralized teams organized around three functional pillars: Operations, Development and Exploration. Clay Bretches was named executive vice president of Operations, and David Pursell was named executive vice president of Development. The leader of exploration will be named following the completion of an ongoing search. Mr. Bretches will continue to serve in his role as CEO and president of Altus Midstream Company, a controlled subsidiary of Apache. All three executives will report directly to Apache CEO and president John J. Christmann IV.

“Our new organization, built on central pillars of Operations, Development and Exploration, will enable us to manage our assets more efficiently while enhancing our strategy of finding and developing new, low-cost resources. We will be able to more effectively deploy capital and human resources, respond to market conditions, and retain and advance top talent,” said Christmann. “Clay Bretches and Dave Pursell bring tremendous leadership and technical experience to their respective roles and have been an integral part of the strategic redesign of the organization.”

Both executives are supported by strong leadership teams. As head of the Development pillar, Dave Pursell has established a leadership team that will take responsibility for reserves, planning, reservoir engineering, and domestic and international asset management. At Apache, Clay Bretches will lead an experienced and well-established team responsible for the functional areas of drilling and completion, facilities engineering, production engineering and operations, and environment, health and safety. On the Altus side, Steve Noe recently joined the senior leadership team as vice president of Business Development, while Bryan Graham and Ben Rodgers continue to report to Clay in their respective roles as vice president of Operations and CFO, respectively.