APA · 10-Q · 2026Q3 · Full report
Revenue Performance and Mix
APA Corp · 2026-11-05 · Importance 64 · Surprise 56 · In source text
Third-quarter 2026 oil, natural gas, and NGL production revenues were $2.36 billion, up from $1.804 billion in third-quarter 2025; oil revenues rose $464 million to $1.9 billion, primarily because realized oil prices increased 36% to $92.02 per barrel. For the first nine months of 2026, oil and gas production revenues were $6.339 billion versus $5.561 billion a year earlier, with oil revenue up $953 million to $5.4 billion while natural gas revenue fell $175 million to $434 million. In the first nine months, United States oil and gas production revenues were $3.364 billion and Egypt’s were $2.374 billion; NGL revenue was $501 million, approximately flat year over year.
Key facts
- APA’s third-quarter 2026 crude-oil revenue totaled $1.9 billion, up $464 million year over year; higher realized prices increased revenue by $536 million and lower sales volumes reduced it by $72 million. source
- APA’s first-nine-month 2026 crude-oil revenue totaled $5.4 billion, up $953 million year over year; higher realized prices added $1.3 billion and lower production reduced revenue by $363 million. source
- APA’s first-nine-month 2026 natural-gas revenue totaled $434 million, down $175 million year over year; lower prices reduced revenue by $127 million and lower production reduced it by $48 million. source
- APA’s third-quarter 2026 NGL revenue totaled $190 million, up $48 million year over year; price increases added $38 million and higher production added $10 million. source
- APA’s third-quarter 2026 natural-gas revenue totaled $236 million, up $44 million year over year; price increases added $52 million and lower production reduced revenue by $8 million. source
- APA’s first-nine-month 2026 NGL revenue totaled $501 million, flat year over year; higher prices added $20 million and lower production reduced revenue by $20 million. source
- APA’s third-quarter 2026 crude-oil realized price averaged $92.02 per barrel, compared with $67.43 in the prior-year quarter. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +17.4% | APA’s first-nine-month 2026 crude-oil revenue totaled $5.4 billion, up $953 million year over year; higher realized prices added $1.3… |
| revenue | positive | realized | +7.2% | APA’s third-quarter 2026 crude-oil revenue totaled $1.9 billion, up $464 million year over year; higher realized prices increased revenue… |
| revenue | negative | realized | -4.9% | APA’s first-nine-month 2026 crude-oil revenue totaled $5.4 billion, up $953 million year over year; higher realized prices added $1.3… |
| revenue | negative | realized | -1.0% | APA’s third-quarter 2026 crude-oil revenue totaled $1.9 billion, up $464 million year over year; higher realized prices increased revenue… |