News wire — 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.
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.
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