APA · 8-K · 20260805PR000050
Capital Expenditure Guidance
APA Corp · 2026-08-05 · Importance 70 · Surprise 40 · In source text
Second-quarter upstream capital investment was $546 million, down 16% from $648 million in the prior-year quarter. Six-month upstream capital investment was $1.110 billion, down 18% from $1.358 billion. APA maintained full-year U.S. capital spending guidance at $1.3 billion and expects total 2026 upstream capital investment of $2.07 billion. The full-year plan reflects slightly lower exploration spending because of a timing shift in Suriname Block 58 exploration activity.
Key facts
- Total company upstream capital investment expected for full-year 2026: $2.07 billion source
- Upstream capital investment in second-quarter 2026: $546 million (below guidance) and upstream capital investment for six months ended June 30, 2026: $1,110 million source
- Upstream capital for second-quarter 2026 per reconciliation: costs incurred in exploration and development $643 million for quarter and $1,292 million for six months (total costs incurred in oil and gas property $646 million for quarter) source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | probable | — | Total company upstream capital investment expected for full-year 2026: $2.07 billion |
| cash | negative | realized | — | Upstream capital investment in second-quarter 2026: $546 million (below guidance) and upstream capital investment for six months ended… |
| cash | negative | realized | — | Upstream capital investment in second-quarter 2026: $546 million (below guidance) and upstream capital investment for six months ended… |
| assets | positive | realized | — | Upstream capital for second-quarter 2026 per reconciliation: costs incurred in exploration and development $643 million for quarter and… |
| assets | positive | realized | — | Upstream capital for second-quarter 2026 per reconciliation: costs incurred in exploration and development $643 million for quarter and… |