Apache has historically operated as a mature asset specialist with a moderately risk-averse strategy. It used an "acquire, exploit and explore" model to drive growth, and generally pursued a cyclical approach to deal activity. Activity has focused on assets acquired in 2010 in the US Gulf of Mexico and Egypt Western Desert. However in 2013, a new exploration leadership team re-focused on near-field exploration and unconventional resource plays. Apache has repositioned its portfolio to concentrate investment in advantaged, high returning, cash generative assets. It has built a sizeable position in the Permian, Mid-Continent and Gulf Coast basins and these provide a large drilling inventory. Its refocus on unconventionals was rewarded in 2016, when it announced the discovery of the Alpine High in the Permian Basin. The conventional side of the business will receive less investment though the company will continue to drill near-field exploration wells on its high-returning acreage.