[First-Quarter 2025 Highlights and Outlook](index=1&type=section&id=First-Quarter%202025%20Highlights%20and%20Outlook) APA Corporation reported strong Q1 2025 results, driven by Permian efficiency, reduced capital, and an Alaska discovery [Key Takeaways and First-Quarter Summary](index=1&type=section&id=Key%20Takeaways%20and%20First-Quarter%20Summary) APA Corporation achieved strong Q1 2025 financial and operational results, with significant efficiency gains and a new Alaska discovery Q1 2025 Financial Highlights | Metric | Value (Millions USD) | Per Diluted Share | | :-------------------------------- | :------------------- | :---------------- | | Net Income Attributable to Common Stock | $347 | $0.96 | | Adjusted Earnings | $385 | $1.06 | | Net Cash Provided by Operating Activities | $1,100 | | | Adjusted EBITDAX | $1,500 | | Q1 2025 Production Highlights | Metric | Value (BOE per day) | | :-------------------- | :------------------ | | Reported Production | 469,000 | | Adjusted Production | 398,000 | - Permian oil production was within guidance despite a **1,000 barrel-per-day impact** from third-party and weather-related downtime. Capital expenditure came in **below guidance** due to **significant improvements** in drilling performance, especially in the Permian Basin[5](index=5&type=chunk) - Announced a **second Alaska discovery well** at Sockeye-2, encountering a high-quality reservoir with approximately **25 feet of net oil pay**. Subsequent flow test indicated **significantly higher reservoir quality**[6](index=6&type=chunk)[7](index=7&type=chunk) - Increased 2025 expected savings to **$130 million** from **$60 million** previously, and doubled annualized run-rate savings by year-end to **$225 million**, with capital and overhead savings ahead of schedule[7](index=7&type=chunk) - Streamlined Permian footprint with the announcement of a **$608 million New Mexico divestiture package**[7](index=7&type=chunk) [Cost Initiatives Progress](index=2&type=section&id=Cost%20Initiatives%20Progress) APA Corporation significantly increased its 2025 cost savings targets, primarily through Permian drilling efficiency and overhead reductions - Total realized savings on controllable spend for 2025 are now expected to be **$130 million**, more than **double previous estimates**[8](index=8&type=chunk) - The company targets **$225 million in run-rate savings** by the end of the year, up from a prior range of **$100-$125 million**[8](index=8&type=chunk) - Efficiency gains in Permian drilling are providing the **majority of the uplift in capital savings**, with good progress also on completions and facilities[8](index=8&type=chunk)[9](index=9&type=chunk) - General and administrative (G&A) savings are being achieved through organizational streamlining and reduced discretionary third-party spend[9](index=9&type=chunk) [Second-Quarter and Full-Year Update](index=2&type=section&id=Second-Quarter%20and%20Full-Year%20Update) APA is lowering 2025 capital guidance due to efficiencies, maintaining U.S. oil production, and expecting strong Egypt gas growth - 2025 development capital will be lowered by **$150 million** due to improved efficiencies and reduced activity[9](index=9&type=chunk) - A **$25 million reduction in exploration capital** is also planned, aimed at protecting free cash flow amidst volatile commodity prices[9](index=9&type=chunk) - APA expects to sustainably hold Permian oil volumes flat with **6.5 rigs**, and is reducing activity to **6 rigs** by the end of Q2 2025[10](index=10&type=chunk) - Full-year U.S. oil production guidance range of **125,000 to 127,000 barrels per day** is being maintained for 2025[10](index=10&type=chunk) - In Egypt, gas-focused drilling has increased to **over a third of activity**, with 2025 gas production volumes expected to continue on a **strong growing trajectory**, leading to **higher average realized gas prices** through Q4[11](index=11&type=chunk) [Hedging Update](index=3&type=section&id=Hedging%20Update) APA entered natural gas basis swaps for Permian transport, updating full-year guidance for marketing income - Entered into natural gas basis swap agreements for Q2-Q4 2025 on roughly **two-thirds of firm transport capacity** from Permian to Gulf Coast[12](index=12&type=chunk) - Full-year 2025 guidance for income from third-party oil and gas marketing activities has been updated to **$575 million**, inclusive of these basis hedges[12](index=12&type=chunk) [New Mexico Asset Sale](index=3&type=section&id=New%20Mexico%20Asset%20Sale) APA agreed to sell New Mexico Permian assets for $608 million, focusing its portfolio and reducing debt - Agreed to sell New Mexico Permian assets to Permian Resources Corporation for **$608 million**, prior to customary closing adjustments[13](index=13&type=chunk) - These properties are expected to produce **12.4 Mboe/d (46% oil)** for the full year 2025[13](index=13&type=chunk) - The transaction is expected to close **late in the second quarter**, with proceeds primarily allocated toward **debt reduction**[13](index=13&type=chunk) - The New Mexico package represents **less than 5% of APA's Permian oil production and unconventional acreage**, aligning with the company's focus on core assets[14](index=14&type=chunk) [Closing Remarks](index=3&type=section&id=Closing%20Remarks) The CEO highlighted significant business improvements, emphasizing cost initiatives, free cash flow protection, and long-term strategy - First-quarter performance demonstrates **step-change improvements** across many business aspects[15](index=15&type=chunk) - Strong delivery of cost initiatives enhances the ability to respond decisively to commodity price volatility while **protecting free cash flow**[15](index=15&type=chunk) - Company's focus remains on sustaining the asset base, providing returns to shareholders, strengthening the balance sheet, and creating long-term optionality through exploration[15](index=15&type=chunk) [Consolidated Financial Performance](index=7&type=section&id=Consolidated%20Financial%20Performance) APA Corporation's Q1 2025 consolidated operations showed significant revenue and net income growth year-over-year [Statement of Consolidated Operations](index=7&type=section&id=Statement%20of%20Consolidated%20Operations) APA Corporation's Q1 2025 revenues and net income significantly increased year-over-year, driven by higher production and sales Consolidated Operations Summary (Q1 2025 vs. Q1 2024) | Metric (Millions USD) | Q1 2025 | Q1 2024 | YoY Change (%) | | :---------------------------------- | :------ | :------ | :------------- | | Oil Revenues | $1,600 | $1,432 | 11.7% | | Natural Gas Revenues | $233 | $176 | 32.4% | | Natural Gas Liquids Revenues | $206 | $140 | 47.1% | | Purchased Oil and Gas Sales | $597 | $203 | 194.1% | | **Total Revenues** | **$2,636**| **$1,951**| **35.1%** | | Lease Operating Expenses | $407 | $338 | 20.4% | | Exploration Expense | $30 | $148 | (79.7%) | | Depreciation, Depletion, and Amortization | $636 | $419 | 51.8% | | **Net Income Attributable to Common Stock** | **$347** | **$132** | **162.9%** | | Diluted EPS | $0.96 | $0.44 | 118.2% | [Operational Performance Data](index=8&type=section&id=Operational%20Performance%20Data) APA Corporation's Q1 2025 reported production increased year-over-year, primarily from the U.S., despite a slight QoQ decrease [Production Information](index=8&type=section&id=Production%20Information) APA Corporation's Q1 2025 reported production increased year-over-year, driven by the U.S., with stable Egypt and declining North Sea volumes Total Reported Production (BOE per day) | Period | Total BOE per day | QoQ Change (4Q24 to 1Q25) | YoY Change (1Q24 to 1Q25) | | :----- | :---------------- | :------------------------ | :------------------------ | | 1Q25 | 468,978 | (4)% | 21% | | 4Q24 | 488,308 | | | | 1Q24 | 389,157 | | | Reported Oil Production (Barrels per day) | Region | 1Q25 | 4Q24 | 1Q24 | QoQ Change | YoY Change | | :------------ | :-------- | :-------- | :-------- | :--------- | :--------- | | United States | 125,124 | 147,573 | 83,520 | (15)% | 50% | | Egypt | 86,173 | 89,927 | 86,768 | (4)% | (1)% | | North Sea | 25,206 | 27,683 | 29,795 | (9)% | (15)% | | **Total** | **236,503** | **265,183** | **200,083** | **(11)%** | **18%** | Reported Natural Gas Production (Mcf per day) | Region | 1Q25 | 4Q24 | 1Q24 | QoQ Change | YoY Change | | :------------ | :-------- | :-------- | :-------- | :--------- | :--------- | | United States | 574,736 | 511,587 | 443,737 | 12% | 30% | | Egypt | 317,209 | 300,118 | 290,227 | 6% | 9% | | North Sea | 31,606 | 36,842 | 52,605 | (14)% | (40)% | | **Total** | **923,551** | **848,547** | **786,569** | **9%** | **17%** | [Adjusted Production Information](index=9&type=section&id=Adjusted%20Production%20Information) Adjusted production for Q1 2025 showed a significant year-over-year increase, reflecting strong U.S. growth - Adjusted production excludes production attributable to noncontrolling interest in Egypt and Egypt tax barrels, used by management to evaluate operational trends and performance[28](index=28&type=chunk) Total Adjusted Production (BOE per day) | Period | Total BOE per day | QoQ Change (4Q24 to 1Q25) | YoY Change (1Q24 to 1Q25) | | :----- | :---------------- | :------------------------ | :------------------------ | | 1Q25 | 398,384 | (5)% | 24% | | 4Q24 | 418,347 | | | | 1Q24 | 320,046 | | | Adjusted Oil Production (Barrels per day) | Region | 1Q25 | 4Q24 | 1Q24 | QoQ Change | YoY Change | | :------------ | :-------- | :-------- | :-------- | :--------- | :--------- | | United States | 125,124 | 147,573 | 83,520 | (15)% | 50% | | Egypt | 42,521 | 45,017 | 42,504 | (6)% | —% | | North Sea | 25,206 | 27,683 | 29,795 | (9)% | (15)% | | **Total** | **192,851** | **220,273** | **155,819** | **(12)%** | **24%** | [Price Information](index=10&type=section&id=Price%20Information) Average realized prices for oil, natural gas, and NGLs varied in Q1 2025, with natural gas prices showing a significant QoQ increase Average Oil Price Per Barrel | Region | 1Q25 ($) | 4Q24 ($) | 1Q24 ($) | | :------------ | :------- | :------- | :------- | | United States | 72.45 | 70.38 | 77.37 | | Egypt | 75.06 | 74.54 | 83.18 | | North Sea | 75.30 | 75.42 | 82.81 | | **Total** | **73.73** | **72.42** | **80.65** | Average Natural Gas Price Per Mcf | Region | 1Q25 ($) | 4Q24 ($) | 1Q24 ($) | | :------------ | :------- | :------- | :------- | | United States | 2.00 | 1.01 | 1.42 | | Egypt | 3.19 | 2.97 | 2.93 | | North Sea | 14.96 | 14.40 | 9.23 | | **Total** | **2.81** | **2.20** | **2.47** | Average NGL Price Per Barrel | Region | 1Q25 ($) | 4Q24 ($) | 1Q24 ($) | | :------------ | :------- | :------- | :------- | | United States | 28.12 | 24.52 | 25.38 | | North Sea | 51.39 | 50.65 | 49.37 | | **Total** | **28.75** | **25.08** | **26.20** | [Supplemental Financial Details](index=11&type=section&id=Supplemental%20Financial%20Details) This section provides detailed financial information on exploration expenses, equity compensation, cash flow, and balance sheet [Summary Exploration Expense Information](index=11&type=section&id=Summary%20Exploration%20Expense%20Information) Exploration expenses significantly decreased in Q1 2025, primarily due to reduced dry hole expense Exploration Expense (Millions USD) | Expense Type | 1Q25 ($) | 1Q24 ($) | | :---------------------------- | :------- | :------- | | Unproved leasehold impairments | — | 10 | | Dry hole expense | 11 | 123 | | Geological and geophysical expense | 4 | 1 | | Exploration overhead and other | 15 | 14 | | **Total** | **30** | **148** | [Summary Stock-Settled and Cash-Settled Equity Compensation Information](index=11&type=section&id=Summary%20Stock-Settled%20and%20Cash-Settled%20Equity%20Compensation%20Information) Total equity compensation costs significantly increased in Q1 2025, particularly in G&A Equity Compensation Costs (Millions USD) | Metric | 1Q25 ($) | 4Q24 ($) | 1Q24 ($) | | :---------------------------------------- | :------- | :------- | :------- | | Stock-settled and cash-settled compensation expensed: |||| | Lease operating expenses | 7 | 1 | 4 | | Exploration | 1 | 1 | 1 | | General and administrative | 17 | 11 | 3 | | **Total expensed compensation** | **25** | **13** | **8** | | Stock-settled and cash-settled compensation capitalized | 4 | 1 | 3 | | **Total compensation costs** | **29** | **14** | **11** | [Summary Cash Flow Information](index=12&type=section&id=Summary%20Cash%20Flow%20Information) Net cash from operating activities significantly increased in Q1 2025, but investing and financing activities also rose Cash Flow Summary (Millions USD) | Metric | 1Q25 ($) | 1Q24 ($) | | :---------------------------------------- | :------- | :------- | | Net cash provided by operating activities | 1,096 | 368 | | Additions to upstream oil and gas property | (777) | (467) | | Net cash used in investing activities | (786) | (88) | | Payments on term loan facility | (900) | — | | Payments on fixed-rate debt | (905) | — | | Net cash used in financing activities | (868) | (265) | [Summary Balance Sheet Information](index=12&type=section&id=Summary%20Balance%20Sheet%20Information) As of March 31, 2025, total assets and long-term debt decreased, while shareholders' equity increased Balance Sheet Summary (Millions USD) | Metric | March 31, 2025 ($) | December 31, 2024 ($) | | :---------------------------- | :----------------- | :-------------------- | | Cash and cash equivalents | 67 | 625 | | Total assets | 18,531 | 19,390 | | Current debt | 131 | 53 | | Long-term debt | 5,237 | 5,991 | | Total Liabilities and equity | 18,531 | 19,390 | | Common shares outstanding at end of period | 361 | 365 | [Non-GAAP Financial Reconciliations](index=13&type=section&id=Non-GAAP%20Financial%20Reconciliations) This section reconciles non-GAAP financial measures to GAAP, providing additional insights into performance [Reconciliation of Costs Incurred to Upstream Capital Investment](index=13&type=section&id=Reconciliation%20of%20Costs%20Incurred%20to%20Upstream%20Capital%20Investment) Upstream capital investment, a non-GAAP measure, increased in Q1 2025, excluding certain items - Upstream capital investment is defined as costs incurred for oil and gas activities, adjusted to exclude property and leasehold acquisitions, asset retirement additions and revisions, capitalized interest, and certain exploration expenses, as well as noncontrolling interest in Egypt[40](index=40&type=chunk) Upstream Capital Investment (Millions USD) | Metric | 1Q25 ($) | 1Q24 ($) | | :------------------------------------------------ | :------- | :------- | | Total Costs incurred in oil and gas property | 803 | 717 | | Upstream capital investment including noncontrolling interest - Egypt | 766 | 627 | | Less noncontrolling interest - Egypt | (56) | (69) | | **Total Upstream capital investment** | **710** | **558** | [Reconciliation of Net Cash Provided by Operating Activities to Cash Flows from Operations Before Changes in Operating Assets and Liabilities and Free Cash Flow](index=13&type=section&id=Reconciliation%20of%20Net%20Cash%20Provided%20by%20Operating%20Activities%20to%20Cash%20Flows%20from%20Operations%20Before%20Changes%20in%20Operating%20Assets%20and%20Liabilities%20and%20Free%20Cash%20Flow) Non-GAAP cash flow metrics, including free cash flow, showed an increase in Q1 2025, indicating improved cash generation - These non-GAAP measures are used to evaluate the company's ability to generate cash to internally fund exploration and development activities, fund dividend programs, and service debt[42](index=42&type=chunk) Cash Flow and Free Cash Flow (Millions USD) | Metric | 1Q25 ($) | 1Q24 ($) | | :------------------------------------------------------------------------ | :------- | :------- | | Net cash provided by operating activities | 1,096 | 368 | | Cash flows from operations before changes in operating assets and liabilities | 1,051 | 827 | | **Free cash flow** | **126** | **99** | [Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDAX](index=14&type=section&id=Reconciliation%20of%20Net%20Cash%20Provided%20by%20Operating%20Activities%20to%20Adjusted%20EBITDAX) Adjusted EBITDAX, a non-GAAP measure, increased year-over-year in Q1 2025, reflecting operational performance - Adjusted EBITDAX is defined as EBITDAX adjusted for certain items, used by management to evaluate the ability to fund capital expenditures, debt services, and operational requirements, and to compare results by eliminating the impact of non-representative items[44](index=44&type=chunk) Adjusted EBITDAX (Millions USD) | Metric | 1Q25 ($) | 4Q24 ($) | 1Q24 ($) | | :---------------------------------------- | :------- | :------- | :------- | | Net cash provided by operating activities | 1,096 | 1,036 | 368 | | **Adjusted EBITDAX (Non-GAAP)** | **1,485**| **1,550**| **1,235**| [Reconciliation of Debt to Net Debt](index=14&type=section&id=Reconciliation%20of%20Debt%20to%20Net%20Debt) Net debt, a non-GAAP measure, decreased from Q4 2024 to Q1 2025, indicating improved financial leverage - Net debt is defined as outstanding debt obligations less cash and cash equivalents, used by management as a measure of the Company's outstanding debt obligations not readily satisfied by cash on hand[46](index=46&type=chunk) Net Debt (Millions USD) | Metric | March 31, 2025 ($) | December 31, 2024 ($) | September 30, 2024 ($) | June 30, 2024 ($) | | :------------------------ | :----------------- | :-------------------- | :--------------------- | :---------------- | | Current debt | 131 | 53 | 2 | 2 | | Long-term debt | 5,237 | 5,991 | 6,370 | 6,741 | | Total debt | 5,368 | 6,044 | 6,372 | 6,743 | | Cash and cash equivalents | 67 | 625 | 64 | 160 | | **Net Debt** | **5,301** | **5,419** | **6,308** | **6,583** | [Reconciliation of Income Attributable to Common Stock to Adjusted Earnings](index=15&type=section&id=Reconciliation%20of%20Income%20Attributable%20to%20Common%20Stock%20to%20Adjusted%20Earnings) Adjusted earnings, a non-GAAP measure, significantly increased in Q1 2025, providing a clearer view of ongoing operations - Adjusted earnings and adjusted earnings per share are used to evaluate operating and financial performance by eliminating the impact of items not considered representative of ongoing business operations, facilitating comparisons to peers[48](index=48&type=chunk)[49](index=49&type=chunk) Adjusted Earnings (Millions USD, except per share data) | Metric | 1Q25 After Tax ($) | 1Q25 Diluted EPS ($) | 1Q24 After Tax ($) | 1Q24 Diluted EPS ($) | | :---------------------------------------- | :----------------- | :------------------- | :----------------- | :------------------- | | Net income attributable to common stock | 347 | 0.96 | 132 | 0.44 | | Adjustments (net of tax): | | | | | | Valuation allowance and EPL revaluation | 98 | 0.27 | 16 | 0.05 | | Gain on extinguishment of debt | (111) | (0.30) | — | — | | Unrealized derivative instrument loss | 22 | 0.06 | 6 | 0.02 | | Transaction, reorganization & separation costs | 28 | 0.07 | 19 | 0.06 | | **Adjusted earnings (Non-GAAP)** | **385** | **1.06** | **237** | **0.78** | [Corporate Information and Disclosures](index=4&type=section&id=Corporate%20Information%20and%20Disclosures) This section provides essential corporate information, including conference call details, company overview, and legal disclaimers [Conference Call Details](index=4&type=section&id=Conference%20Call%20Details) APA Corporation will host a conference call on May 8, 2025, to discuss Q1 results, with webcast and replay available - Conference call to discuss Q1 2025 results scheduled for **10 a.m. Central time, Thursday, May 8**[16](index=16&type=chunk) - Webcast available on APA's website (www.apacorp.com and investor.apacorp.com), with a replay available for **one year**[16](index=16&type=chunk) [About APA Corporation](index=4&type=section&id=About%20APA%20Corporation) APA Corporation is an independent energy company engaged in oil and gas exploration and production across multiple regions - APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the **United States, Egypt, and the United Kingdom**[17](index=17&type=chunk) - The company also explores for oil and natural gas **offshore Suriname and other locations**[17](index=17&type=chunk) - APA posts announcements, operational updates, investor information, and press releases on its website, www.apacorp.com[17](index=17&type=chunk) [Additional Information and Non-GAAP Financial Measures Explanation](index=4&type=section&id=Additional%20Information%20and%20Non-GAAP%20Financial%20Measures%20Explanation) The report includes non-GAAP reconciliations to enhance understanding of financial information and performance - Additional information includes reconciliations of adjusted earnings, adjusted EBITDAX, upstream capital investment, net debt, cash flows from operations before changes in operating assets and liabilities, and free cash flow (non-GAAP financial measures) to GAAP measures[18](index=18&type=chunk) - Non-GAAP financial information is provided to enhance understanding of consolidated financial information prepared in accordance with GAAP, and should be considered **in addition to, not instead of, GAAP statements**[19](index=19&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This news release contains forward-looking statements subject to risks and uncertainties, with no obligation for updates - Statements about future plans, expectations, and objectives for operations, including capital plans, drilling plans, production expectations, asset sales, and monetizations, are forward-looking[20](index=20&type=chunk) - Forward-looking statements are based on reasonable assumptions but are subject to **risks and uncertainties** that could cause actual results to differ materially[20](index=20&type=chunk) - APA and its subsidiaries undertake **no obligation to publicly update** any forward-looking statement, except as required by law[20](index=20&type=chunk) [Cautionary Note to Investors](index=6&type=section&id=Cautionary%20Note%20to%20Investors) Investors are cautioned regarding non-SEC compliant terms and advised to refer to the Form 10-K for detailed disclosures - The SEC permits disclosure only of **proved, probable, and possible reserves** that meet SEC definitions[21](index=21&type=chunk) - Terms like 'resources,' 'potential resources,' 'resource potential,' 'estimated net reserves,' and 'recoverable reserves' are **strictly prohibited by SEC guidelines** for filings and should not be relied upon as they do not account for certainty of recovery[21](index=21&type=chunk) - Investors are urged to carefully consider disclosures in APA's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, available on APA's website or the SEC's website[21](index=21&type=chunk) [Contacts](index=6&type=section&id=Contacts) Contact information for investor relations and media inquiries, along with the company's website, is provided - Investor contact: **(281) 302-2286**[22](index=22&type=chunk) - Media contact: **(713) 296-7276**[22](index=22&type=chunk) - Website: www.apacorp.com[22](index=22&type=chunk)

Whenever possible, these "forward-looking statements" are identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "continues," "could," "estimates," "expects," "goals," "guidance," "may," "might," "outlook," "possible," "potential," "projects," "prospects," "should," "would," "will," and similar phrases, but the absence of these words does not mean that a statement is not forward-looking. Because such statements involve risks and uncertainties, the company's actual results and pe ...

For the quarter ended March 2025, APA (APA) reported revenue of $2.61 billion, up 37.3% over the same period last year. EPS came in at $1.06, compared to $0.78 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.21 billion, representing a surprise of +18.00%. The company delivered an EPS surprise of +27.71%, with the consensus EPS estimate being $0.83. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expecta ...

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]

HOUSTON, May 07, 2025 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced first-quarter 2025 results. Results can be found on the company’s website by visiting www.apacorp.com or investor.apacorp.com. APA will host a conference call on May 8 at 10 a.m. Central time via the webcast link available on the company website to discuss the results. Following the conference call, a replay will be available for one year on the “Investors” page of the company’s website. About APA APA Corporation owns co ...

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 ...