February 26, 2020 / 10:45 PM / a month ago

Apache Corp reports bigger fourth-quarter loss on impairment charges

Feb 26 (Reuters) - Apache Corp reported a bigger quarterly loss on Wednesday, primarily due to a $2.7 billion charge related to its assets, as the company grapples with falling natural gas prices.

The Houston-based company's net loss attributable to common stock widened to $3 billion, or $7.89 per share, in the fourth quarter ended Dec. 31, from $381 million, or $1 per share, a year earlier. (bit.ly/32tbIJv)

The company said it plans 2020 capital expenditure between $1.6 billion and $1.9 billion, the mid point of which is 26% lower than its 2019 capex.

On an adjusted basis, the company earned $0.08 per share. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shounak Dasgupta)

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