US oil firm Apache (NYSE: APA) saw total hydrocarbon production slip more than 15% in Argentina in Q2, according to the firm's quarterly earnings release.
Oil production was relatively flat at 9,365b/d in Q2 compared to 9,583b/d in 2Q12.
Natural gas production fell 17.7% to 185Mf3/d (5.24Mm3/d) compared to 224Mf3/d in the year-ago quarter while NGL production slipped27.0% to 2,239b/d from 3,067b/d.
The average crude barrel price in Argentina was US$77.74/b in the quarter compared to US$72.69/b a year ago. Natural gas prices averaged US$2.79/Mf3 in the period compared to US$2.76/Mf3 in 2Q12.
And NGL averaged US$20.94/b in Q2 compared to US$21.09/b a year earlier.
Apache's capex in Argentina slipped to US$52 in Q2 from US$73mn in the year-ago quarter.
Source: http://member.bnamericas.com/news/oilandgas/apache-argentina-production-slips-in-q2
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