Apache Corporation Provides Second-Quarter Supplemental Information and Schedules Results Conference Call for July 30, 2020, at 10 a.m. Central Time
Supplemental quarterly information
To further assist analysts with their second-quarter earnings models, the company is providing the following estimates:
Average Realized Prices – 2Q20 |
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Oil (bbl) | NGL (bbl) | Natural Gas (Mcf) | |||
International | |||||
Not meaningful | |||||
Realized loss on commodity derivatives (before tax): | |||||
Unrealized loss on commodity derivatives (before tax): | |||||
Dry hole costs (before tax): | |||||
Second-quarter 2020 curtailed production
Apache did not provide production guidance for the second-quarter 2020 due to the many uncertainties associated with the global pandemic and other external factors affecting markets and operations. Given the increased volatility of oil, natural gas, and natural gas liquids prices, Apache elected to curtail production in selected areas of operation.
During the second-quarter 2020, Apache curtailed between 23-25 Mboe/d of production in
As part of Apache’s organizational re-design implemented this year, asset teams have replaced the regional-based reporting model. Beginning with the second-quarter, Apache’s production and other data will be reported under the headings
Second-quarter 2020 earnings call
About Apache
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations and objectives for Apache’s operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in our 2019 Form 10-K and in our quarterly reports on Form 10-Q filed with the
Contacts | ||
Investor: | (281) 302-2286 | Gary Clark |
Media: | (713) 296-7276 | |
Website: | www.apachecorp.com | |
APA-F
Source: Apache Corporation