APA(US:APA)2025-05-08 11:17Financial Performance & Strategy - The company is targeting $130 million in realized savings for FY25, doubling the YE25 run-rate savings target to $225 million[15] - APA is committed to returning at least 60% of free cash flow to investors through base dividends and share repurchases[14] - The company's third-party trading income is expected to be approximately $575 million in 2025[32] - First quarter realized gain of ~$123 million from third-party oil and gas trading activities[65] Production & Capital Efficiency - Permian Basin accounts for 75% of total Adjusted Production[14] - Permian rig count is reducing from 8 to 6 in 2Q25, with a $130 million reduction in FY25 U S capital guidance[22] - Second half 2025 capital expenditure is expected to be 33% lower than the first half, with U S oil production guided at 125-127 Mbo/d for FY25[27] - Egypt's new gas pricing agreement provides a competitive, fixed gas price for incremental volumes[32] Asset Portfolio & Exploration - Announced FID on Block 58 Suriname, with significant FCF growth upside starting in 2028[14] - Announced New Mexico asset sale for $608 million in proceeds, expected to close in late 2Q25[38] - Suriname's GranMorgu project is estimated to have 180 MMBO+ EUR (Oil) with a total capital investment of ~$1.1 Billion[56]