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

APACHE CORPORATION (APA)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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 [email protected]

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
01/19 APACHE : 01/19/2018Apache Corporation named one of the World's Most Amdired Comp..
01/19 APACHE CORP : Change in Directors or Principal Officers, Financial Statements an..
01/19 RESEARCH DATA FROM APACHE CORPORATIO : ...
01/19 APACHE CORPORATION : ex-dividend day
01/18 Woodside Expects Rise in LNG Production This Year
01/11 S&P 500 MOVERS : Mat, xrx
01/11 APACHE : Falls Short on its Oil Production
01/10 APACHE : Updates Fourth-Quarter 2017 Guidance Plans to Release Fourth-Quarter an..
01/10 APACHE : Oil Producer Apache Missed 4th Quarter Production Target
01/09 APACHE : Jan. 09, 2018Apache Updates Fourth-Quarter 2017 Guidance; Plans to Rele..
More news
News from SeekingAlpha
01/18 Will Higher Oil Prices Cause Surge In Completions Of Drilled But Uncompleted ..
01/16 Permian Shale Oil Pure Play Stocks - Weekly Report 01/12/18
01/13 Shale Restraint Could Lift Oil To $80
01/12 ENERGY RECAP : Is 100% Clean Energy Possible?
01/09 HARTSTREET : Apache Improves Oil Production Per Foot, A Bullish Sign For 2018
Financials ($)
Sales 2017 6 304 M
EBIT 2017 1 297 M
Net income 2017 920 M
Debt 2017 6 925 M
Yield 2017 2,18%
P/E ratio 2017 18,86
P/E ratio 2018 39,56
EV / Sales 2017 3,88x
EV / Sales 2018 3,87x
Capitalization 17 542 M
Chart APACHE CORPORATION
Duration : Period :
Apache Corporation Technical Analysis Chart | APA | US0374111054 | 4-Traders
Technical analysis trends APACHE CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 31
Average target price 48,6 $
Spread / Average Target 5,5%
EPS 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
George D. Lawrence Independent Director
Rodman D. Patton Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
APACHE CORPORATION10.21%17 542
CONOCOPHILLIPS9.05%71 432
CNOOC LTD8.20%69 544
EOG RESOURCES5.21%66 131
OCCIDENTAL PETROLEUM CORPORATION2.99%57 814
CANADIAN NATURAL RESOURCES LIMITED3.41%44 061