Apache: Q4 non-U.S. Output Disappoints
Apache Corp on Tuesday estimated oil production from its international operations missed its forecast for the fourth quarter, partly due to unexpected delays and the underperformance of its projects in the North Sea.
The company estimated production from non-U.S. operations was 138,000 to 140,000 barrels of oil equivalent per day (boe/d), compared with the 150,000 to 156,000 boe/d it forecast in October.
However, Apache estimated its production in the United States was at the high end of its forecast of 218,000 to 224,000 boe/d for the latest quarter.
Shares of Apache, which is scheduled to report full fourth-quarter results next month, were down 1.4 percent at $45.27 in premarket trading.
Reporting by Yashaswini Swamynathan
