APA · 10-Q · 2026Q2 · Full report

Capital Expenditure Program

APA Corp · 2026-08-06 · Importance 56 · Surprise 24 · From source text

APA expects to invest approximately $2.1 billion in upstream capital investment during 2026. For the remainder of 2026, the company plans to fund activity needed to offset inherent declines in production and proved oil and natural-gas reserves, subject to prevailing commodity prices. Future rig activity and drilling targets will depend on drilling-program success and the ability to add reserves economically. First-half 2026 exploration and development cash expenditures were $1.1 billion, down from $1.4 billion in the first half of 2025, primarily because of drilling and completion efficiency gains in the Permian Basin and Egypt.

Key facts

• The Company expects to invest approximately $2.1 billion in upstream capital investment in 2026. source
• Uses of cash and cash equivalents for the six months ended June 30, 2026 included additions to upstream oil and gas property of $1,111 million and total uses of $2,332 million (compared to total uses $4,212 million in 2025). source
• Exploration and development cash expenditures were $1.1 billion during the first six months of 2026 and $1.4 billion during the first six months of 2025. source
• Net property and equipment (oil and gas and related) as of June 30, 2026: $12,899 million (compared to $12,748 million as of December 31, 2025). source
• Additions to upstream oil and gas property (cash used in investing activities) for the six months ended June 30: $(1,111) million (current period) and $(1,437) million (prior period). source

Impact estimates