Amid shale slump, Apache Corp reports big loss and renewed international focus

FORBES | U.S. shale oil and gas producer Apache Corporation has turned its focus to international investments after reporting steep second-quarter losses stemming largely from its U.S. oil and gas business.

Apache reported today a loss of $386 million in the second quarter, or the three months to June 30th, as its U.S. production fell to 251,000 barrels per day (b/d) of oil or the equivalent in the second quarter, down 11% from the first quarter. The drop was partly because it had curtailed some 23-25,000 b/d in U.S. production sometime in the first quarter, although it has now restored much of that.

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