Apache Q4 Results Miss Estimates - Quick Facts

(RTTNews) - Oil and gas company Apache Corp. (APA) announced a plunge in fourth-quarter 2013 earnings to $174 million or $0.43 per share, from $649 million or $1.64 per share, last year. On an adjusted basis, earnings amounted to $631 million or $1.57 per share for the latest quarter. On average, 30 analysts polled by Thomson Reuters expected earnings per share of $1.79 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues and other were $3.58 billion this quarter, down compared with the prior year's $4.39 billion. Analysts estimated revenues of $3.67 billion for the quarter.

During the quarter, total worldwide net daily production of oil, natural gas, and natural gas liquids averaged 688,000 barrels of oil equivalent or boe per day. Excluding the noncontrolling interest in Egypt operations, production totaled 661,000 boe per day. Liquids production comprised 55 percent of the total, according to the company.

In addition, Apache reported that onshore North American liquids production increased 34 percent in 2013 and the company replaced 140 percent of 2013 production through drilling.