Quarterly report

Quarterly results

third Quarter 2014

Apache Corporation Reports Third-Quarter 2014 Financial and Operational Results

  • Onshore North American liquids production exceeded 211,000 barrels of oil equivalent (boe) per day, up 15 percent from the prior year when adjusted for asset sales
  • Permian production reached 162,000 boe per day, up 23 percent from the prior year
  • Worldwide production averaged 637,000 boe per day; pro forma worldwide production averaged 562,000 boe per day, up 6 percent from the prior year
  • Operating activities provided net cash of $1.9 billion; cash flow from continuing operations before changes in operating assets and liabilities of $2.1 billion
  • Non-cash charges resulted in net loss attributable to common stock of $1.3 billion or $3.50 per diluted share
  • Adjusted earnings of $528 million or $1.38 per share
  • Repurchased 5.7 million shares of common stock during the third quarter; 8.2 million shares remained under existing authorization as of Sept. 30
  • 2014 onshore North American liquids growth anticipated at the high end of previously disclosed guidance range of 15-18 percent, adjusted for asset sales
  • Company to provide North American onshore business update on Nov. 20 in New York City
     

Next earnings date:  Apache will announce fourth-quarter and year-end results Feb. 12, 2015.

Supplemental financial information and non-GAAP reconciliations