DOW JONES NEWSWIRES Apache Corp.'s (APA) second-quarter earnings surged 94%, beating expectations, as the oil-and-gas producer posted record output driven by its international operations. The results come alongside announcements it will buy $7 billion assets from BP PLC (BP, BP.LN) in the U.S., Canada and Egypt while selling 21 million common shares plus $1.1 billion preferred shares. There are 339 million shares outstanding; the new common stock would boost the number 6%. Apache shares were down 1% at $87.36 after hours. The stock has fallen 14% in 2010 through the close, outpacing the broader market's decline. As for the latest quarter, average daily production rose 10% amid a surge in Australia. "We are realizing the benefit of significant discoveries and the investments Apache made to bring them on production," Chairman and Chief Executive G. Steven Farris said Tuesday. "Apache's financial results also benefited from our balanced commodity mix at a time when oil prices remain strong relative to North American natural gas prices." Apache posted a profit of $860.2 million, or $2.53 a share, from $443.3 million, or $1.31 a share, a year earlier. Adjusted for currency fluctuations, earnings rose to $2.44 from $1.41. Revenue jumped 42% to $2.97 billion. Analysts surveyed by Thomson Reuters predicted earnings of $2.31 on $2.81 billion in revenue. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com (END) Dow Jones Newswires July 20, 2010 16:51 ET (20:51 GMT)