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Apache Corp’s profit tumbles by 78.6%
Aug. 1, 2019
Source: Reuters

Apache Corp’s profit tumbles by 78.6%

Apache Corp released second-quarter earnings yesterday, registering a 78.6% dip in the adjusted profits. Apache’s revenue was hit by low prices of oil, gas and natural gas liquids (NGL) and high operating costs. The firm recorded $41 million in adjusted earnings, falling down from $192 million a year earlier. Quarterly earnings report also showed a 23.5% rise in Apache’s total operating expenses to $1.76 billion.

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