OREANDA-NEWS. February 19, 2014. Apache Corporation (NYSE, Nasdaq: APA) announced full-year 2013 earnings of USD 2.2 billion or USD 5.50 per diluted common share and adjusted earnings, which exclude certain items that impact the comparability of results, of USD 3.2 billion or USD 7.92 per share.

In 2012, Apache reported earnings of USD 1.9 billion or USD 4.92 per diluted common share and adjusted earnings of USD 3.8 billion or USD 9.48 per share. Net cash provided by operating activities totaled approximately USD 9.8 billion in 2013, compared with USD 8.5 billion in the prior year, with cash from operations before changes in operating assets and liabilities totaling USD 9.8 billion, compared with USD 10.3 billion in 2012.

Apache also reported that onshore North American liquids production increased 34 percent in 2013 and the company replaced 140 percent of 2013 production through drilling.

"Our strong performance is driven by predictable liquids production growth from our North American onshore assets combined with large free cash flow generation from our international operations," said G. Steven Farris, chairman and chief executive officer at Apache. "We increased onshore North America liquids production by 45,600 barrels per day through drilling in 2013, and we replaced 140 percent of worldwide production through the drill bit.

"We made significant strides in focusing our portfolio during the year, exiting production on the Gulf of Mexico Shelf, streamlining our Canada position and establishing our partnership with Sinopec in Egypt," Farris said. "The proceeds of these transactions - which together total approximately USD 7 billion - have provided the company with additional financial flexibility. The sale of our Argentina operations announced yesterday continues our decisive strategic steps in 2013."