HOUSTON, April 10, 2019 (GLOBE NEWSWIRE) — Apache Corporation (NYSE, Nasdaq: APA) today provided supplemental information regarding first-quarter 2019 Egypt tax barrels, realized derivative gains and dry hole costs.
Supplemental quarterly information
To further assist analysts with their first-quarter earnings models, the company is providing the following estimates:
|Egypt tax barrels:||28,000 to 30,000 BOE per day|
|Realized gain on oil and gas price derivatives (before tax):||$15 million|
|Unrealized loss on oil and gas price derivatives (before tax):||$39 million|
|Dry hole costs (before tax):||$10 to $15 million|
First-quarter 2019 earnings call
Apache Corporation will host its first-quarter 2019 results conference call Thursday, May 2, 2019, at 10 a.m. Central time. The company will issue its earnings release after close of market Wednesday, May 1. The full text of the release will be available on the company’s website at www.apachecorp.com. The conference call will be webcast from Apache’s website at www.apachecorp.com and investor.apachecorp.com, and the webcast replay will be archived there as well. The conference call will also be available for playback by telephone for one week beginning at approximately 4 p.m. Central time May 2. To access the telephone playback, dial (855) 859-2056 or (404) 537-3406 for international calls. The conference access code is 2197977.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. See “Risk Factors” in our 2018 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. A number of factors could cause actual results to differ materially from the expectations presented. None of the information contained in this news release has been audited by any independent auditor. Apache may elect to modify the format or discontinue publication at any time, without notice to securities analysts or investors. Unless legally required, Apache assumes no duty to update any forward-looking statement as of any future date.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com, and on its Media and Investor Center mobile application, which is available for free download from the Apple App Store and the Google Play store.
Investor: (281) 302-2286 Gary Clark
Media: (713) 296-7276 Phil West