APA
APA Corporation23.96
-1.31-5.18%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Permian tests target inventory boost
Q&A unpacked Permian details: $100M base capex to cut LOE $3-3.5M/month (annualizing $40-50M savings), boost uptime, and unlock high-breakeven inventory. A 4-well First Bone Spring test could shift 130 locations from technical upside to economic—a full year's drilling. Egypt gas exploration ramps with regional re-look; Alaska preps ice roads for 2027 wells; Suriname starts GranMorgu drilling late '26. Trading income dips post-Permian pipes but stays positive through 2028. No walk-backs, just crisp affirmations. Watch appraisals.
Key Stats
Market Cap
8.57BP/E (TTM)
5.73Basic EPS (TTM)
4.18Dividend Yield
0.04%Recent Filings
10-K
FY2025 results
APA Corporation delivered FY2025 production of 464 Mboe/d, up 2% y/y, with U.S. Permian driving 62% of output amid Callon integration and non-core divestitures netting $571M proceeds for debt paydown. Revenues fell to $7.2B on 14% lower oil prices ($66.92/bbl), yet operating cash flow surged 26% to $4.5B via cost cuts yielding $350M annualized savings. Net income hit $1.4B ($3.99/share), boosted by absent prior-year impairments; debt dropped to $4.5B. Q4 momentum shone in Egypt's new gas deal and Permian efficiencies, sustaining rig count. Buybacks claimed 12.9M shares; 2026 capex eyes $2.1B for flat Permian oil. Commodity volatility threatens output.
8-K
APA's Q4 results, 2026 outlook
APA Corporation reported Q4 2025 adjusted production of 387,000 BOE per day, with U.S. oil at 132,000 barrels per day, generating $425 million free cash flow and $1.2 billion adjusted EBITDAX. Full-year free cash flow hit $1.0 billion; net debt fell below $4 billion. Permian inventory validated at 10 years. 2026 upstream capex drops 10% to $2.1 billion; adjusted production slides to 371,000 BOE per day.
8-K
APA's 4Q25 prelims out
APA Corporation released supplemental 4Q25 data on January 20, showing U.S. oil at $59.90/bbl and natural gas at $0.15/Mcf amid weak Waha prices that forced curtailments of 91 MMcf/d gas and 7,600 bbl/d NGLs. Expenses hit $36 million from lease and contract terminations, up from $18 million prior quarter, while netting $193 million gain on oil/gas trades. Repurchased 2.7 million shares at $24.17 average. Earnings call set for February 26.
8-K
APA names new Chief Accounting Officer
APA Corporation appointed Robert P. Rayphole as vice president, Chief Accounting Officer, and Controller, effective November 15, 2025, succeeding Rebecca A. Hoyt who stays until her retirement. Rayphole, internal since 2002 and a CPA, gets $355,000 base salary, 50% target annual incentive, and 225% long-term incentive from 2026. Smooth transition preserves accounting expertise.
10-Q
Q3 FY2025 results
APA swung to $205M net income ($0.57 diluted EPS) in Q3 2025 ended September 30, from a $223M loss last year, as revenues fell 16% y/y to $2.1B (derived) on 14% lower oil prices yet lifted by 18% higher gas output and no repeat of $1.1B impairments. Egypt and U.S. drove profits at $398M and $373M operating income; costs dropped across LOE, exploration, and financing. Operating cash flow hit $3.7B YTD (45% y/y gain, derived), funding $2.2B capex while trimming debt to $4.5B from $6.0B; revolver fully available. Debt fell sharply. Decommissioning rules pose cost risks.
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