APA (APA) Company Report

APA Group and CS Energy signed a Joint Development Agreement to develop a 400MW fast-start gas-fired Brigalow Peaking Power Plant, targeting operations in 2028 near Kogan Creek Power Station.
APA will hold an 80% ownership stake and lead project delivery, while CS Energy retains 20% and will operate the facility.
The plant will provide dispatchable firming capacity during peak demand to support renewable integration and connect to APA’s Roma-Brisbane Pipeline via a new lateral line.
GE Vernova will supply the gas turbines, with detailed engineering due by mid-2026, and a 25-year inflation-linked hedge offtake agreement secures revenue and mitigates price exposure.

3 days ago

Morningstar

APA considers reverse merger with Repsol’s upstream unit

APA

M&A

Repsol SA is exploring a reverse merger of its $19 billion upstream division with APA Corp., sending APA shares up over 5% on merger speculation.
APA’s market capitalization is approximately $8.8 billion, and it operates across the U.S., Egypt, and the North Sea, with additional projects in Suriname, Uruguay, and Alaska.
The company’s liquidity profile shows a current ratio of 0.78, a quick ratio of 0.63, and a debt-to-equity ratio of 0.77, highlighting potential liquidity constraints alongside moderate leverage.
Discussions are preliminary, with no certainty of a deal as both companies have declined to comment.

Nov 13, 2025, 4:32 PM

Bloomberg

APA Corporation reports Q3 2025 results

APA

Earnings

Guidance Update

New Projects/Investments

Q3 2025 production of 463,815 BOE/d (51% oil/16% NGL/33% gas); US: 281,145 BOE/d, International: 182,670 BOE/d.
YTD 2025 controllable spend realized savings of $300 M (up from $60 M in Feb-2025); raised YE25 run-rate savings target to $350 M.
Committed to return 60% of free cash flow to shareholders; set $3.0 B long-term net debt target and net debt reduced to ~$4.0 B by Q3 2025.
Approved FID on Block 58 in Suriname, creating ~400 Midland-equivalent well locations at ~30% of Midland Basin cost.
4Q 2025 guidance: reported production 230 k oil/446 k BOE/d, adjusted production 190 k oil/377 k BOE/d; upstream capex of $440 M.

Nov 6, 2025, 4:00 PM

Presentation

APA reports Q3 2025 results and outlines 2026 outlook

APA

Earnings

Guidance Update

APA reported Q3 consolidated net income of $205 million ($0.57/share) and adjusted net income of $332 million ($0.93/share), generating $339 million of free cash flow and returning $154 million to investors via dividends and buybacks.
Production exceeded guidance across core assets: Permian oil volumes topped targets, Egypt BOEs grew sequentially on gas program progress with near-elimination of past-due receivables, and North Sea delivered higher volumes at lower costs.
On track to deliver $300 million of controllable spend savings in 2025, aiming for a $350 million run-rate by year-end and targeting an additional $50–100 million of run-rate savings in 2026.
Preliminary 2026 plan includes sustaining Permian oil at ~120,000 bopd with $1.3 billion in capital (five rigs), flat Egypt spend for gas growth, and ~10% lower development capital versus 2025.

Nov 6, 2025, 4:00 PM

Transcript

APA Corporation announces Q3 2025 results

APA

Earnings

Guidance Update

Share Buyback

Reported production of 464,000 BOE/d (adjusted 387,000 BOE/d), exceeding guidance across all regions.
Q3 net income attributable to common stock of $205 million ($0.57 diluted EPS); adjusted earnings of $332 million ($0.93 diluted EPS); net cash provided by operating activities of $1.5 billion and adjusted EBITDAX of $1.3 billion.
Generated $339 million of free cash flow, reduced net debt by $431 million, and returned $154 million to shareholders via dividends and share repurchases in the quarter.
Accelerated cost reductions, now targeting $350 million of run-rate savings by YE 2025 (two years ahead) and an additional $50–$100 million by YE 2026; raised 2025 realized savings goal to $300 million from $200 million.
Increased Q4 guidance for U.S. oil and Egypt natural gas production; expects upstream capital investment of $440 million, in line with prior outlook.

Nov 5, 2025, 10:22 PM

8-K

Array Technologies reports Q3 2025 results

APA

Earnings

M&A

Guidance Update

Completed acquisition of APA Solar in August; APA contributed $16.9 million in Q3 revenue.
Q3 revenue of $393.5 million (+70% YoY) with gross margin of 26.9% and adjusted gross margin of 28.1%.
Net income to common shareholders of $18.4 million (EPS $0.12) and Adjusted EBITDA of $72.2 million (Adjusted EPS $0.30).
Full-year 2025 guidance updated to $1.25–$1.28 billion in revenue (incl. ~$50 million from APA), $185–$195 million in Adjusted EBITDA, and $0.64–$0.70 in Adjusted net income per share.

Nov 5, 2025, 9:05 PM

Press Release

APA announces development of 2,000 MW Desert Sun natural gas plant

APA

New Projects/Investments

APS will develop the 2,000 MW Desert Sun natural gas facility west of Gila Bend, AZ to meet rapid growth and support renewable integration.
The project follows a two-phase structure: Phase 1 via competitive procurement for all customers; Phase 2 funded by extra-large users through long-term subscriptions.
Under the “growth pays for growth” model, extra-large users assume capital costs and development risks, shielding residential and small business customers from expansion expenses.

Oct 30, 2025, 1:00 PM

Press Release

APA provides third-quarter 2025 supplemental information and announces Nov. 6 conference call

APA

Earnings

Guidance Update

Estimated average realized prices for 3Q 2025: U.S. oil $66/bbl, NGL $20/bbl, natural gas $0.70/Mcf; International oil $68.50/bbl, NGL $40/bbl, natural gas $4.20/Mcf
Egypt payments normalized receivables; distributed $173 million to non-controlling partner in 3Q vs. $126 million in 1Q and $91 million in 2Q; net gain on oil and gas purchases and sales of $177 million (pre-tax)
Production curtailments of ~20 MMcf/d of U.S. natural gas and 1,400 bbl/d of U.S. NGLs due to weak Waha hub prices
Weighted-average basic shares estimated at 357 million; repurchased 3.1 million shares at an average price of $20.78
Scheduled 3Q 2025 earnings call on Thursday, Nov. 6 at 10 a.m. Central time

Oct 8, 2025, 8:53 PM

Press Release

APA’s DP World Posorja named Latin America and Caribbean’s most efficient port

APA

New Projects/Investments

DP World Posorja ranked #1 in Latin America and the Caribbean and 21st globally in the World Bank and S&P Global CPPI (2020–2024)
Delivered the largest efficiency improvement worldwide, climbing over 120 positions since 2020
Utilizes digitized planning and non-intrusive scanning to inspect 100% of export cargo, operating under a $500 million, 50-year public-private partnership launched in 2019
Expanding to a 700 meter berth with additional cranes and RTGs to reach 1.4 million TEU capacity by 2026, and awarded the 2025 Port Industry Excellence Award

Oct 7, 2025, 1:09 PM

Press Release

APA Corp outlines exploration-focused portfolio and growth projects

APA

New Projects/Investments

APA Corp. reports 465,000 boe/d of production with a $2.3 billion capital budget in 2025, allocating $65 million to exploration this year and $850 million since 2020.
Production and free cash flow are anchored in the Permian Basin (75 %) and long-lived assets in Egypt, with gas appraisal underway in Egypt’s Western Desert.
In Suriname’s Block 58, APA achieved first discovery in 2020, reached FID in 2024, and plans first oil by 2028 via a 220,000 bbl/d FPSO operated by Total.
Entered an Alaska joint venture in 2023, announcing two North Slope discoveries and planning further winter-season appraisal drilling on a 375,000-acre position.
Expanded exploration into Uruguay with two large offshore blocks and emphasizes long-term investment in “super basins” to meet future global oil demand.

Aug 18, 2025, 5:20 PM

Earnings Transcripts

Quarterly earnings call transcripts for APA.