APA · 8-K · 20261104PR000063
Guidance / Outlook
APA Corp · 2026-11-04 · Importance 90 · Surprise 84 · In source text
At current strip prices, APA expects approximately $2.9 billion of free cash flow in 2026, up $600 million from its August update, reflecting stronger operating performance and higher commodity prices. The outlook supports substantial fourth-quarter share repurchases alongside continued debt reduction. APA also expects to return at least 60% of 2026 free cash flow to shareholders while strengthening its balance sheet.
Key facts
- APA expects fourth-quarter U.S. oil production to moderate because of the timing of turn-in-lines during the year and seasonal weather impacts. source
- APA expects Egypt gross BOE production to increase slightly in the fourth quarter and for full-year 2026. source
- APA expects full-year 2026 abandonment and decommissioning expenditures of $285 million, a $15 million reduction from prior guidance. source
- APA's 2027 investment program is expected to result in similar U.S. and Egypt production year-over-year. source
- APA's GranMorgu project continues to progress toward first oil in mid-2028. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | committed | +0.1% | APA expects full-year 2026 abandonment and decommissioning expenditures of $285 million, a $15 million reduction from prior guidance. |
| revenue | negative | probable | — | APA expects fourth-quarter U.S. oil production to moderate because of the timing of turn-in-lines during the year and seasonal weather… |
| revenue | positive | committed | — | APA expects Egypt gross BOE production to increase slightly in the fourth quarter and for full-year 2026. |
| revenue | positive | probable | — | APA's GranMorgu project continues to progress toward first oil in mid-2028. |