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  - 04/24 10:02:32 pm
48.74 USD   -0.57%
04/19 BRISTOW : Announces Apache Contract Award
04/13 Apache Corporation to Release First-Quarter 2017 Results May 4
04/10 APACHE CORPORAT : (APA) Gains on Moving Averages
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 CEST
   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
04/19 BRISTOW : Announces Apache Contract Award
04/13 Apache Corporation to Release First-Quarter 2017 Results May 4
04/10 APACHE CORPORATION : (APA) Gains on Moving Averages
04/02 APACHE : Egypt Discusses with Apache Boosting Investments in Egypt
03/11 APACHE : trees, activities earn state conservation award
02/24 APACHE : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS..
02/24 APACHE CORPORATION : Oil Prices Settle at 19 Month High: Today's Reports on Apac..
02/23 APACHE CORPORATION (NYSE : APA) Files An 8-K Results of Operations and Financial..
02/23 APACHE CORP : Results of Operations and Financial Condition, Financial Statement..
02/23 APACHE : reports 4Q loss
More news
Sector news : Oil & Gas Exploration and Production - NEC
12:30a CANADIAN NATURAL RESOURCES : Inter Pipeline says Alberta crude oil leak came fro..
04/21 TSX ends lower as banks weigh, energy shrugs off oil fall
04/20DJWoodside Quarterly Revenue Dented by Storms, Rainfall
04/19 TSX falls as oil slide hits energy stocks
04/19DJConocoPhillips Considers Expansion of Australian Gas-Export Operation
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
04/23 SunTrust Loves EOG's Huge Loving County Well Result, Provides Upside To Other..
04/07 Apache rated Hold at Stifel until investors convinced of Alpine High quality
04/06 PERMIAN DRILLING PERMITS : Q1 2017 Review
04/03 HARTSTREET LLC : Diamondback Is A Buy On The Pullback
04/03 Invesco Equity and Income Fund A (ACEIX) March Summary
Advertisement
Financials ($)
Sales 2017 6 586 M
EBIT 2017 1 457 M
Net income 2017 475 M
Debt 2017 7 796 M
Yield 2017 2,05%
P/E ratio 2017 36,89
P/E ratio 2018 21,39
EV / Sales 2017 4,01x
EV / Sales 2018 3,42x
Capitalization 18 646 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
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 35
Average target price 60,1 $
Spread / Average Target 23%
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
George D. Lawrence Independent Director
Rodman D. Patton Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
APACHE CORPORATION-22.77%18 646
CONOCOPHILLIPS-4.79%59 057
EOG RESOURCES INC-7.44%54 011
CNOOC LTD-6.11%51 938
OCCIDENTAL PETROLEUM C..-13.15%47 297
WILLIAMS PARTNERS LP7.15%39 630
More Results