Last $13.91 USD
Change Today +0.06 / 0.43%
Volume 16.1K
APAGF On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

apco oil and gas intl inc (APAGF) Snapshot

Open
$13.77
Previous Close
$13.85
Day High
$14.04
Day Low
$13.68
52 Week High
10/18/13 - $16.50
52 Week Low
02/6/14 - $10.99
Market Cap
409.5M
Average Volume 10 Days
19.4K
EPS TTM
$0.24
Shares Outstanding
9.1M
EX-Date
05/7/12
P/E TM
58.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for APCO OIL AND GAS INTL INC (APAGF)

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apco oil and gas intl inc (APAGF) Details

Apco Oil and Gas International Inc. explores and produces for oil and gas in South America. Its producing operations are located in the Neuquén, Austral, San Jorge, and Northwest basins in Argentina; and in the Llanos basin in Colombia. The company also has exploration activities in Argentina and Colombia. As of December 31, 2013, it had interests in nine oil and gas producing concessions and two exploration permits in Argentina; and three exploration and production contracts in Colombia. The company was formerly known as Apco Argentina Inc. and changed its name to Apco Oil and Gas International Inc. in July 2009. Apco Oil and Gas International Inc. was founded in 1970 and is headquartered in Tulsa, Oklahoma. Apco Oil and Gas International Inc. is a subsidiary of WPX Energy, Inc.

apco oil and gas intl inc (APAGF) Top Compensated Officers

President and Chief Operating Officer
Total Annual Compensation: $332.4K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $174.6K
Compensation as of Fiscal Year 2013.

apco oil and gas intl inc (APAGF) Key Developments

Apco Oil & Gas International Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Apco Oil & Gas International Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating revenue of $38,800,000 compared to $41,790,000 a year ago. Net income attributable to the company was $7,127,000 or $0.24 per share compared to $13,520,000 or $0.46 per share a year ago. For the six months, the company reported operating revenue of $69,386,000 compared to $77,069,000 a year ago. Net income attributable to the company was $10,181,000 or $0.35 per share compared to $23,453,000 or $0.80 per share a year ago. Net income for the quarter and year-to-date periods was lower than the same periods of 2013 due to the combination of lower operating revenues, greater operating costs and expenses, and lower equity income. During 2014, the benefits of higher oil and natural gas sales prices were more than offset by the impact of decreased revenues from the Oil Plus hydrocarbon subsidy program in Argentina and lower oil sales volumes compared with 2013. During the first six months of 2014, capital expenditures of $37.6 million attributable to Apco's consolidated interests were invested primarily in exploration and development drilling in Colombia and development drilling in Neuquén basin properties.

Apco Oil & Gas International Inc. Announces Board Changes

Apco Oil and Gas International Inc. named Richard E. (Rick) Muncrief as its new chairman and board member, succeeding James J. Bender who has retired. Muncrief, has more than 30 years of upstream and midstream energy experience. He is the chief executive officer of WPX Energy. Bender joined Apco as chairman at the beginning of 2014 and also served as interim CEO at WPX this year preceding Muncrief's appointment to the role in May. Apco's existing operations management remains the same, led by Bryan K. Guderian as chief executive officer and Michael Kyle who serves as Apco's president and chief operating officer.

Apco Oil & Gas International Inc. Provides Colombia Operations Update

Apco Oil and Gas International Inc. announced that it has successfully completed its Llanos basin exploration drilling program for 2014. Extended production tests and development activities are underway. In Llanos 32 where Apco participates with a 20% interest, three exploration wells were drilled year-to-date. All three wells, the Kananaskis-1, Carmentea-1 and the Calona-1, discovered proved reserves. The Kananaskis-1 well was put on production from the Mirador formation at an average rate of approximately 5,000 barrels of oil per day during June. The Carmentea-1 tested at 4,300 barrels of oil per day and was put on production at a restricted rate in July. The Calona-1 well will be put on production later in the year when water disposal facilities are installed. Following the successful exploration drilling, Apco and its partners began development and appraisal drilling. The Kananaskis-2 well was drilled to appraise the Une and Gacheta formations where natural gas and natural gas liquids were produced in the Kananaskis-1 test. Kananaskis-2 was drilled and cased, with testing planned for third quarter. Since the end of the second quarter, Apco drilled a water disposal well for Carmentea and the Kananaskis-3 Mirador appraisal well, and spud the Kananaskis-4 disposal well. Further production history and possibly more appraisal wells will be required to determine stabilized flow rates and the extent of all the reservoirs discovered by these wells, including evaluation and potential development of natural gas and natural gas liquids reserves lying below the oil reservoirs in the Une and Gacheta formations. In addition, Apco expects that the total gross production from Block 32 will be restricted to between 6,000 and 7,000 barrels of oil per day for the remainder of 2014 in order to maximize long-term reservoir performance and until sufficient production and water-handling facilities to support total fluid volumes produced from the block are operational. In the Llanos 40 block where Apco has a 50% working interest, four exploration wells were drilled to fulfill the initial exploration phase commitments. The first two wells, the Celtis-1 and Ardisia-1, were drilled from the same pad and tested during the second quarter. The Celtis-1 well discovered proved reserves from the Une formation. The well is temporarily shut-in until later in the year when water disposal facilities are scheduled to be operational. The well is expected to be placed on production at approximately 500 barrels of oil per day. The Ardisia-1 well did not recover commercial hydrocarbon volumes and is being converted to a water disposal well to handle water volumes produced from the Celtis-1 well. The third well drilled in the Llanos 40 block, the Begonia-1, discovered oil from the Carbonera 7 formation. The fourth exploration well, the Berbena-1, was determined to be unproductive and is being converted to a water disposal well to handle anticipated future volumes of water produced from the Begonia-1 well. Apco anticipates commencing long-term production testing of the Begonia-1 well in the third quarter. The well is expected to produce approximately 2,000 barrels of oil per day.

 

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