Big profits mean new investments for Apache

American oil and gas firm Apache has announced profits of $4.5 billion (£2.85bn) for 2011- up 50% from 2010. The company also says it increased production by 14% to 748,000 barrels of oil equivalent (boe) per day. In a company statement Apache said it now plans to spend $9.5 billion in drilling operations in 2012. […]