Financial Performance & Capital Allocation - APA Corporation generated $420 million of free cash flow in the fourth quarter of 2024, marking the highest quarter of the year[58] - The company plans to return at least 60% of free cash flow to investors through base dividends and share repurchases[12] - Since initiating the repurchase program in the fourth quarter of 2021, APA has returned 78% of free cash flow to shareholders[49] - $3.8 billion has been returned to shareholders from 4Q21, with 24% as dividends and 76% as share repurchases[49] - APA aims to reduce controllable spend by $350 million by year-end 2027[16, 18] Production & Operations - The Permian Basin now accounts for 75% of APA's total adjusted production[12, 21] - APA's 4Q24 global portfolio reported production was 488,308 BOE/D, with 313,227 BOE/D from the United States and 175,081 BOE/D internationally[57] - U S (Permian) accounted for 78% of 4Q24 capital allocation[21] - APA reached FID on a 220,000 B/d oil project in Suriname, with first oil expected in 2028[12, 55] 2025 Outlook - Total development capital is expected to be 17% lower year-over-year in 2025, while total adjusted production is projected to grow by mid-single digits[63] - Permian development capital is planned to be 22% lower, with a 7% increase in total production and roughly flat oil production in 2025[63] - The company anticipates Permian LOE/BOE to be 20% lower in 2025 compared to 2024 actuals[63]