Apache Corp. (APA) Posts Narrower-than-Expected Q3 Loss

November 5, 2015 8:05 AM EST

Apache Corp. (NYSE: APA) reported Q3 EPS of ($0.05), versus the analyst estimate of ($0.38).

2015 outlook and guidance update

Despite a significantly reduced capital program, production volumes have shown tremendous resiliency; as a result, Apache is again raising 2015 production-guidance ranges. The company is increasing its full-year 2015 North American onshore production guidance to a range of 307,000 to 309,000 boe per day, which is up from prior guidance of 305,000 to 308,000 boe per day. On a pro forma basis, this represents more than 2 percent year-over-year growth. Internationally, Apache delivered strong third-quarter production growth through record production efficiency in the North Sea, sustained solid base performance and better-than-expected contributions from new wells. These results enable the company to raise its full-year 2015 international and offshore pro forma production guidance to 172,000 to 174,000 boe per day, up from a previous range of 164,000 to 168,000 boe per day. This represents substantial year-over-year growth of 10 to 12 percent.

For earnings history and earnings-related data on Apache Corp. (APA) click here.

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