Apache Corporation : Apache : Most Oil, Gas Production Affected by Unplanned Downtime Is Back Online
08/02/2012| 03:42pm US/Eastern
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By Alison Sider
Apache Corp. Chief Executive Steven Farris said Thursday that most of the production lost to unplanned downtime in various areas is back or will be before the end of the year.
Apache's second-quarter production was down 16,000 barrels of oil equivalent a day because of unplanned downtime in Canada, onshore in the Gulf of Mexico and elsewhere.
"I know downtime happens, it's part of our business," Mr. Farris said during a conference call. "The important thing is we have a robust portfolio so it really doesn't impact us over the longer term, the performance of the company."
Apache executives said they expect fertilizer plants in Australia will be shut down for three weeks in late September, so natural-gas sales volumes will be down then.
Write to Alison Sider at alison.sider@dowjones.com
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