APA · 10-Q · 2026Q2

APA Corp

Filed 2026-08-06 · Energy · View original filing on EDGAR

Ranked Events

• Headcount / RestructuringImportance 78 · Surprise 58
  APA raised its expected annualized cost-savings target to $500 million by the end of 2026, an increase of $50 million from prior guidance. The savings program targets overhead costs, drilling, completion and facility…
• Liquidity and Debt PositionImportance 74 · Surprise 58
  APA and Apache had $3.7 billion of total debt outstanding at June 30, 2026, down from $4.5 billion at December 31, 2025, a reduction of approximately $750 million. Cash and cash equivalents totaled $444 million at June…
• Gulf of America DecommissioningImportance 70 · Surprise 68
  APA recorded an $847 million contingent liability at June 30, 2026 for estimated decommissioning costs on Legacy Gulf of America Assets that it may be required to perform after Fieldwood’s inability to fund the…
• Operating Expense TrendsImportance 64 · Surprise 56
  Total operating expenses declined to $1.1 billion in the second quarter of 2026 from $1.6 billion and to $2.5 billion in the first six months from $3.4 billion. Purchased oil and gas costs decreased $426 million in the…
• Capital Expenditure ProgramImportance 56 · Surprise 24
  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…
• Revenue Performance and MixImportance 54 · Surprise 40
  Second-quarter 2026 oil and gas production revenues increased to $2.0 billion from $1.7 billion, driven by a 50% increase in realized oil prices to $98.24 per barrel, partially offset by 10% lower oil sales volumes.…
• Acquisition / Partnership / DivestitureImportance 53 · Surprise 60
  APA agreed in the second quarter of 2026 to acquire Savant Alaska, LLC for approximately $70 million of upfront consideration plus contingent future-development payments. The transaction is expected to close by…
• Net Income and ProfitabilityImportance 52 · Surprise 30
  Second-quarter 2026 net income attributable to common stock was approximately $1.2 billion, compared with approximately $0.9 billion in the second quarter of 2025, while diluted EPS increased 26% to $2.11 from $1.67.…
• Geographic Market CommentaryImportance 48 · Surprise 40
  The U.S. remained APA’s largest operating area, contributing 64% of worldwide production in the second quarter, although output declined because of asset sales, natural decline, and gas-market curtailments. Egypt gross…
• Sinopec DistributionsImportance 47 · Surprise 48
  Sinopec International Petroleum Exploration and Production Corporation holds a one-third minority participation interest in APA’s oil and gas operations in Egypt. APA paid Sinopec $164 million in cash distributions…
• Income Tax Rate ChangesImportance 42 · Surprise 50
  The United Kingdom’s Finance Act 2025 increased the Energy (Oil and Gas) Profits Levy from 35% to 38%, effective for the period from November 1, 2024, through March 31, 2030. The U.S. One Big Beautiful Bill Act of 2025…
• Upstream Production VolumeImportance 42 · Surprise 40
  Worldwide production declined 12% to 409,959 boe per day in the second quarter of 2026, with oil production down 10% to 211,270 barrels per day and natural gas production down 16% to 752.1 MMcf per day. U.S. production…
• Capital Return ProgramImportance 37 · Surprise 6
  APA paid $177 million in dividends to common stockholders and repurchased approximately $100 million of common stock during the first six months of 2026. The company repurchased 2.8 million shares during the second…
• Australian Operations Divestiture DisputeImportance 37 · Surprise 42
  APA is litigating with Santos Ltd., the successor to Quadrant Energy Pty Ltd., over the 2015 divestiture of APA’s Australian operations under the Quadrant Sale and Purchase Agreement. APA filed suit in April 2017…
• Supply Chain ConstraintsImportance 29 · Surprise 24
  APA holds approximately 750,000 MMBtu per day of firm pipeline capacity in the Permian Basin. Extreme Waha basis differentials, including periods of negative pricing, constrained gas markets and led APA to increase…
• Oil and Gas Price SensitivityImportance 29 · Surprise 24
  APA remains exposed to fluctuations in crude oil and natural gas prices on the majority of its worldwide production, as well as foreign-exchange movements on transactions denominated in foreign currencies. As of June…
• Exploration and Development PipelineImportance 26 · Surprise 24
  APA averaged five drilling rigs in the Permian Basin during the second quarter and brought 47 operated wells online, maintaining the core Permian development program as a key U.S. asset priority. In Egypt, APA averaged…
• Macroeconomic Factors ImpactImportance 17 · Surprise 24
  APA expects commodity prices to remain volatile in the near term because of geopolitical instability involving the Middle East, Russia, and Ukraine, macroeconomic uncertainty, tariffs and trade barriers, supply-chain…

Revenue by Product (in millions)

Revenue by Geography (in millions)