Core Insights - APA reported a revenue of $2.61 billion for the quarter ended March 2025, marking a 37.3% increase year-over-year, with an EPS of $1.06 compared to $0.78 in the previous year [1] - The revenue exceeded the Zacks Consensus Estimate of $2.21 billion by 18.00%, and the EPS also surpassed the consensus estimate of $0.83 by 27.71% [1] Financial Performance Metrics - Total production volume per day was 468.98 KBOE/D, slightly above the estimated 464.29 KBOE/D [4] - Average natural gas price was $2.81, lower than the estimated $3.01 [4] - Natural gas production volume per day was 923.55 million cubic feet, exceeding the estimate of 900 million cubic feet [4] - Average price per barrel of NGL was $28.75, above the estimated $27.08 [4] - NGL production volume per day was 78.55 thousand barrels, below the estimate of 80.45 thousand barrels [4] - Oil production volume per day was 236.5 thousand barrels, slightly above the estimate of 233.11 thousand barrels [4] - Average price per barrel of oil was $73.73, in line with the estimated $73 [4] Revenue Breakdown - Gas revenues were reported at $233 million, slightly below the average estimate of $237.04 million, representing a year-over-year increase of 32.4% [4] - Total revenues from oil, natural gas, and natural gas liquids were $2.04 billion, exceeding the estimate of $1.95 billion, with a year-over-year increase of 16.7% [4] - Natural gas liquids revenues were $206 million, surpassing the estimate of $188.03 million, reflecting a 47.1% year-over-year increase [4] - Purchased oil and gas sales reached $597 million, significantly above the estimate of $395.32 million, representing a 194.1% increase year-over-year [4] - Oil revenues were reported at $1.60 billion, exceeding the estimate of $1.52 billion, with a year-over-year increase of 11.7% [4] Stock Performance - APA shares returned +12.1% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

分组1 - APA reported quarterly earnings of $1.06 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and up from $0.78 per share a year ago, representing an earnings surprise of 27.71% [1] - The company posted revenues of $2.61 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 18%, compared to $1.9 billion in the same quarter last year [2] - APA has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates four times during the same period [2] 分组2 - The stock has underperformed, losing about 31.9% since the beginning of the year, while the S&P 500 declined by 4.7% [3] - The current consensus EPS estimate for the coming quarter is $0.72 on revenues of $2.06 billion, and for the current fiscal year, it is $2.92 on revenues of $8.47 billion [7] - The Zacks Industry Rank for Oil and Gas - Exploration and Production - United States is currently in the bottom 25% of over 250 Zacks industries, indicating potential challenges for the sector [8]

Core Viewpoint - APA Corporation announced its first-quarter 2025 results and will discuss them in a conference call on May 8, 2025 [1]. Company Overview - APA Corporation operates subsidiaries that explore and produce oil and natural gas in the United States, Egypt, and the United Kingdom, as well as offshore Suriname and other locations [2]. Investor Relations - The company provides operational updates, investor information, and press releases on its website [2]. - A replay of the conference call discussing the first-quarter results will be available for one year on the company's "Investors" page [1].

Core Viewpoint - APA Corporation is expected to report first-quarter 2025 results on May 7, with a consensus estimate of 83 cents per share in profit and revenues of $2.2 billion [1] Group 1: Previous Quarter Performance - In the last reported quarter, APA missed the consensus earnings estimate of 97 cents, reporting adjusted earnings of 79 cents per share, while revenues of $2.5 billion exceeded estimates by nearly 10% due to contributions from the Callon Petroleum acquisition and higher production [2] - APA has beaten the Zacks Consensus Estimate in one of the last four quarters and missed in the others [3] Group 2: Estimate Revisions and Projections - The Zacks Consensus Estimate for the first-quarter earnings has been revised upward by 2.5% in the past week, indicating a 6.4% year-over-year improvement, while revenue estimates suggest a 16.3% increase from the previous year [3] Group 3: Production and Growth Factors - APA is projected to achieve strong production gains in the first quarter, with average volumes expected to reach approximately 300,000 barrels of oil equivalent per day (BOE/d), reflecting a 40% year-over-year increase from 214,050 BOE/d, driven by robust well performance and the Callon Petroleum acquisition [4] - Since 2020, APA has restructured its portfolio with over $5 billion in strategic acquisitions and $2.5 billion in divestitures, resulting in more than doubling its unconventional output in the Permian Basin and enhancing its operational efficiency [5] Group 4: Earnings Surprise Potential - The company has a positive Earnings ESP of +4.52% and a Zacks Rank of 3, indicating a likelihood of an earnings beat this season [6]

Group 1 - APA Corporation is expected to provide significant updates regarding its $9 billion project in Suriname and its partnership with TotalEnergies [1] - The recent acquisition of Callon Petroleum is noted, indicating potential strategic moves within the industry [1] Group 2 - The analysis emphasizes a focus on value investments, particularly companies trading at approximately 10 times earnings and offering dividend yields [1] - The research primarily targets small-cap and mid-cap companies across various regions including the United States, Canada, South America, the UK, France, and Germany [1]

Core Viewpoint - The significant decline in shares of major oil and gas companies in April was primarily driven by a sharp drop in oil prices, marking the largest monthly decline since November 2021, influenced by geopolitical and economic factors [1][3][4]. Group 1: Stock Performance - Chevron, APA Corporation, and Halliburton experienced substantial stock declines in April, with decreases of 18.7%, 26.1%, and 21.9% respectively [1]. - Halliburton was the only company to report earnings in April, but its earnings report did not significantly impact the stock price decline [2][11]. Group 2: Oil Price Decline - Brent and WTI oil prices fell by 15% and 18% respectively in April, attributed to broader market concerns following the "Liberation Day" tariff announcements [3][5]. - The sell-off in oil prices was exacerbated by fears of a recession or stagflation due to the economic implications of the new tariffs [5][7]. Group 3: Future Outlook - The anticipated increase in oil production by Saudi Arabia starting in June could further suppress oil prices, as the country aims to regain market share [8][9]. - Halliburton's management indicated that upstream customers are reevaluating drilling plans due to tariff impacts, suggesting potential declines in demand and supply chain issues [12][13]. - The ongoing uncertainty in U.S.-China trade relations is likely to continue affecting oil demand negatively [13][14].

Group 1 - APA Corporation (NASDAQ: APA) is identified as a value opportunity in the energy sector, which is currently out of favor with investors [1] - The base case valuation for APA suggests a significant upside potential from the current share price [1] - Energess Resources aims to provide objective, actionable company-level analysis for investors in the energy sector, focusing on fundamentals such as valuation, capital and operational efficiency, asset quality, and shareholder alignment [1] Group 2 - The initial coverage by Energess Resources will focus on exploration and production (E&P) companies in the United States and Canada, with plans to expand to midstream and royalty companies in the future [1] - Investments in energy can yield strong total returns and enhance diversification in long-term portfolios when approached with discipline and a value-oriented strategy [1] - Quality companies with experienced management can deliver shareholder value even in challenging pricing environments, despite the cyclical nature of commodity prices [1]

APA (APA) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on May 7, 2025, might help the stock move higher if these key numbers are better than expectations. O ...

Core Insights - APA Corporation, along with partners Lagniappe Alaska, LLC and Oil Search (Alaska), LLC, achieved significant results at the Sockeye-2 exploratory well in Alaska's North Slope, which could enhance future developments in the region [1][6] Group 1: Sockeye-2 Well Performance - The Sockeye-2 well was drilled to approximately 10,500 feet, encountering a Paleocene-aged clastic reservoir with an average porosity of 20% [2] - The well flowed without stimulation or artificial lift, averaging 2,700 barrels of oil per day over a 12-day production test, confirming superior reservoir quality compared to other discoveries [2][5] - This well sets a new benchmark for shallow-marine reservoirs on the eastern North Slope [2] Group 2: North Slope Project Overview - The North Slope project is a joint venture where APA Corp holds a 50% working interest, Lagniappe Alaska, LLC has a 25% operating interest, and Santos holds the remaining 25% [3] - The joint venture began an exploration campaign in 2023 but faced challenges, leading to a renewed effort in 2024 with plans for three exploratory wells, including King Street-1 [4] Group 3: Future Implications for Alaska's Energy Landscape - The success of the Sockeye-2 well is expected to extend the Brookian topset play established with the Pikka discovery in 2013, validating geological models and reducing risks for future prospects [6] - This discovery, along with planned appraisal drilling, could represent a pivotal moment for Alaska's energy landscape, offering promising exploration and development opportunities [6]

Core Insights - APA Corporation and its partners announced successful flow testing results from the Sockeye-2 exploratory well, indicating a significant discovery in the eastern North Slope of Alaska [1][2] - The Sockeye-2 well reached a depth of approximately 10,500 feet and encountered a high-quality Paleocene-aged clastic reservoir with an average porosity of 20% [2] - The well averaged 2,700 barrels of oil per day during the final flow period over a 12-day production test, demonstrating exceptional productivity without artificial lift [2][3] Company Overview - APA Corporation operates in oil and natural gas exploration and production across the United States, Egypt, the United Kingdom, and offshore Suriname [4] - The company holds a 50% working interest in the Sockeye-2 well, with partners Lagniappe Alaska and Santos each holding 25% [1] Future Prospects - The results from the Sockeye-2 well are expected to extend the Brookian topset play, first established with the Pikka discovery in 2013, and further appraisal drilling will determine the ultimate size of the discovery [3] - The flow test results confirm the geological and geophysical models, derisking additional prospectivity in the block [3]