Barclays Downgrades Apache Corp. (APA) to Equalweight
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August 5, 2016 10:19 AM EDT
UBS maintained a Neutral rating on Apache Corp. (NYSE: APA), and cut the price target to $54.00 (from $56.00), following the company's 2Q earnings report and conference call. APA reiterated its 2016 North American Onshore prod'n guidance of 268-278 MBoed and its International & Offshore prod'n guidance of 170-180 MBoed.... More
August 4, 2016 8:13 AM EDT
Apache Corp. (NYSE: APA) reported Q2 EPS of ($0.26), $0.09 worse than the analyst estimate of ($0.17).
Transitioned from full-cost to successful-efforts method of accounting to enhance the comparability of Apache's financial results.Placed on production several strong wells in key operating areas including the Permian Basin and North Sea.Achieved further cost improvements, including a 17- percent year-over-year reduction in lease operating expenses (LOE), which averaged $7.38 per barrel...
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