Apache Logs Huge Q2 Loss

Apache Corp on Thursday reported a quarterly loss compared with a year-ago profit as a slump in crude prices led the U.S. oil and gas company to write down the value of some assets.

The Houston company had a second-quarter loss of $5.6 billion, or $14.83 a share, following a year-ago profit of $505 million, or $1.31 per share.

Total oil and gas output averaged 564,000 barrels oil equivalent per day (boepd), down 4 percent from a year earlier.

Reporting by Anna Driver