Apache's Adjusted Profit Falls

Wednesday, May 1, 2019
(Photo: Apache)

U.S. oil and gas producer Apache Corp reported a 69 percent plunge in adjusted quarterly profit on Wednesday, as lower crude and natural gas prices offset higher output from the Permian basin in the United States and the UK North Sea.

The Houston-based company said adjusted earnings fell to $38 million, or 10 cents per share, in the first quarter ended March 31, from $124 million, or 32 cents per share, a year earlier.

Apache, which also operates in Egypt, said adjusted production rose 19 percent to 436,713 barrels of oil equivalent per day (boepd).


(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)

Categories: Finance Production

Related Stories

Van Oord Installs All Monopiles for Sofia Offshore Wind Farm

Van Oord Installs All Monopiles for Sofia Offshore Wind Farm

Fugro Gets On Board Ireland’s Offshore Grid Development Project

Fugro Gets On Board Ireland’s Offshore Grid Development Project

Dolphin Drilling Lines Up $105M Payment for Rig Deal Termination in Nigeria

Dolphin Drilling Lines Up $105M Payment for Rig Deal Termination in Nigeria

Current News

Van Oord Installs All Monopiles for Sofia Offshore Wind Farm

Mooreast Finds Geotechnical Partner for Floating Energy Solutions

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Industry Partners Deliver Largest Unified OBN Dataset in Norwegian North Sea

Subscribe for OE Digital E‑News

Offshore Engineer Magazine