Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Apache Corporation    APA

Delayed Quote. Delayed  - 12/07 10:00:14 pm
66.39 USD   +0.06%
11/24 APACHE CORPORAT : Quarterly EPS Estimate Of $0.3
11/15 Apache, Nvidia and Equity One climb; JPMorgan slips
11/15DJTHOMAS WILSON : Dow Sets Another Record
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Apache Corporation : Apache 2nd-Quarter Profit Tumbles 72% on Write-Down, Lower Prices

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/02/2012 | 02:56pm CET
   By Victoria Stilwell 
 

Apache Corp.'s (APA) second-quarter profit sank 72% as revenue declined and the exploration-and-production company booked a $480 million write-down on its Canada oil and gas properties amid historically low natural gas prices.

Results missed expectations.

The company lowered its forecast for production growth, now seeing global growth of 6% to 9% from earlier expectations of 7% to 13%.

Apache has been acquisitive in recent years, adding mature fields from larger rivals. Apache has spent more than $15 billion in the past two years to acquire a series of assets in Egypt, the North Sea, West Texas and the Gulf of Mexico.

In January, Apache agreed to a $2.85 billion deal for privately held Cordillera Energy Partners III LLC, giving it 254,000 acres atop a property known as the Granite Wash, doubling its acreage in the energy field.

Apache also in June said it plans to produce more than 1 million barrels of oil equivalent a day in 2016, with U.S. oil production leading its growth. About 58% of Apache's production will be oil and similar liquids, up from 50% in 2011, the company said.

Apache reported a profit of $356 million, down from a year-earlier profit of $1.26 billion. Per-share earnings, which include the impact of stock dividends, slipped to 86 cents from $3.17.

The latest quarter included a $480 million reduction in the carrying value of its oil and gas properties in Canada stemming from lower natural gas prices. Excluding this item and others, per-share earnings were $2.07, down from $3.22.

Revenue declined 8.4% to $3.97 billion.

Analysts surveyed by Thomson Reuters recently expected per-share earnings of $2.53 on revenue on $4.26 billion.

Average prices, including hedging impacts, decreased 8.1% for oil, 32% for natural gas liquids and 23% for natural gas.

Shares fell 0.9% to $86.04 in recent premarket trade. The stock is off 28% in the past 12 months through Wednesday's close.

Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APACHE CORPORATION
11/24 APACHE CORPORATION : Quarterly EPS Estimate Of $0.3
11/15 Apache, Nvidia and Equity One climb; JPMorgan slips
11/15DJTHOMAS WILSON : Dow Sets Another Record
11/14 APACHE CORPORATION : Post Earnings Coverage as Apache Net Loss Narrows on Cost S..
11/09 APACHE : to run up to 6 rigs in newfound Alpine High
11/07 APACHE : Selected as a 2016 top workplace in houston
11/07 APACHE : Announces third-quarter 2016 financial and operational results
11/04 APACHE : Makes Oil Discovery in the North Sea
11/04 APACHE : 11/04/2016apache corporation selected as a 2016 top workplace in housto..
11/04 APACHE : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS..
More news
Sector news : Oil & Gas Exploration and Production - NEC
12/07 CRESCENT POINT ENERGY : boosts 2017 capital budget to C$1.45 billion
12/05DJBHP Billiton, Cnooc, Total, Others Take Blocks in Mexico Offshore Auction--2n..
12/05 CHESAPEAKE ENERGY : to sell Haynesville asset for $450 million to Indigo Mineral..
12/05DJBHP Billiton Wins Trion Oil Field Bid
12/03 Grades narrow slightly on second day of new trade cycle
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
12/01 Freeport-McMoRan Inc. - The Go-To Copper Investment Vehicle
12/01 Invesco Equity and Income Fund A (ACEIX) November Summary
11/30 Texas Pacific Land - Lumpy Growth
11/30 Apache sells North Sea pipeline assets to U.K. pension funds
11/29 PIONEER NATURAL RESOURCES ISSUES A D : We Can Go, Toe To Toe
Advertisement
Financials ($)
Sales 2016 5 389 M
EBIT 2016 123 M
Net income 2016 -1 198 M
Debt 2016 7 998 M
Yield 2016 1,52%
P/E ratio 2016 -
P/E ratio 2017 48,68
EV / Sales 2016 6,16x
EV / Sales 2017 4,83x
Capitalization 25 190 M
More Financials
Chart APACHE CORPORATION
Duration : Period :
Apache Corporation Technical Analysis Chart | APA | US0374111054 | 4-Traders
Full-screen chart
Technical analysis trends APACHE CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 35
Average target price 62,8 $
Spread / Average Target -5,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
John J. Christmann President, Chief Executive Officer & Director
John E. Lowe Non-Executive Chairman
Stephen J. Riney Chief Financial Officer & Executive Vice President
Aaron S. G. Merrick Vice President-Information Technology
George D. Lawrence Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
APACHE CORPORATION49.29%25 190
CONOCOPHILLIPS6.88%61 827
EOG RESOURCES INC46.25%59 681
CNOOC LTD24.69%58 717
OCCIDENTAL PETROLEUM C..1.52%52 454
ANADARKO PETROLEUM COR..40.41%38 715
More Results