Apache Finally Settled With Investors Over Alpine High Hype—Here’s How to Get Your Payout

Court: S.D. Texas

Case: 4:21-cv-00575

Apache Corporation is still paying a $65M agreement to settle claims from investors who say the company hid information about the true potential of its Alpine High oil discovery. The settlement, announced in 2024, follows years of controversy, a massive $3 billion write-down, and a stunning 93% drop in Apache’s stock value.

What Went Wrong in Alpine High

In 2016, Apache declared Alpine High to be a game-changing oil discovery in Texas. CEO John J. Christmann touted its potential at over $8 billion, generating buzz among investors and analysts alike. But internal data painted a much different picture suggesting that the site’s viability was far more limited.

In 2020, when Apache publicly revealed a $3 billion write-down tied to Alpine High. This announcement erased two years of company profits and triggered a 90% dividend cut. After this came out, APA plummeted 93%, wiping out $24 billion in market value.

Investors Hit Back Over Misleading Claims

By February 2021, investors launched a lawsuit, accusing Apache of knowingly overstating Alpine High’s production potential and failing to disclose critical geological limitations. They argued the company artificially inflated the stock price—only for the truth to unravel years later.

A $65M Settlement Brings Some Closure

After years of legal battles, Apache has finally agreed to a $65M payout to resolve the claims. While the official deadline to file has passed, investors who were financially harmed by the Alpine High fallout may still be able to submit a claim. You can check your eligibility and file a claim here.