Mar. 19 at 3:43 PM
$APA That's becuz Oxy is a leveraged, upstream pure-play. Pure meaning O&G only, now that it's jettisoned OxyChem. Once they clear their costs, including interest expense, the stock takes off. All leveraged pure plays are like that in an upmarket. APA is the smallest and prolly has higher fixed costs w/operations dispersed across 3 continents, aside from just leverage. Nonetheless, they'll be minting money if WTI=85 for more than 6 months.