APA Corporation Provides Third-Quarter Supplemental Information and Schedules Results Conference Call for Nov. 4 at 10 a.m. Central Time
APA Corporation reported its third-quarter 2021 financial and operational results on October 15, 2021. The company provided estimates for average realized prices: $70.00 for U.S. oil and $73.00 for international oil. NGL prices were $30.75 in the U.S. and $55.25 internationally, while natural gas was priced at $3.70 and $4.10, respectively. The company also projected Egypt tax barrels at 23-24 MBoe/d and stated a realized loss of $37 million on commodity derivatives. The third-quarter earnings call is scheduled for November 4, 2021.
- Estimated U.S. oil prices at $70.00 and international at $73.00 indicate solid market performance.
- NGL prices show a positive outlook with $30.75 (U.S.) and $55.25 (international).
- Natural gas prices are favorable at $3.70 (U.S.) and $4.10 (international).
- Projected tax barrels in Egypt at 23-24 MBoe/d suggest robust production levels.
- Realized loss on commodity derivatives of $37 million may impact net earnings.
- Dry hole costs estimated between $16-$19 million could affect financial results.
HOUSTON, Oct. 15, 2021 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain third-quarter 2021 financial and operational results.
Supplemental quarterly information
To further assist analysts with their third-quarter earnings models, the company is providing the following estimates:
| Estimated Average Realized Prices – 3Q21 | ||||||
| Oil (bbl) | NGL (bbl) | Natural Gas (Mcf) | ||||
| United States | ||||||
| International | ||||||
| Egypt tax barrels: | 23-24 MBoe/d |
| Realized loss on commodity derivatives (before tax): | |
| Dry hole costs (before tax): |
Third-quarter 2021 earnings call
APA Corporation will host its third-quarter 2021 results conference call on Thursday, Nov. 4, at 10 a.m. Central time. The company will issue its earnings release after the market close on Wednesday, Nov. 3. The full text of the release will be available on the company's website at www.apacorp.com. The conference call will be webcast from APA’s website at investor.apacorp.com, and the webcast replay will be archived there as well. The conference call will also be available for playback by telephone for one week beginning at approximately 4 p.m. Central time, Nov. 4. To access the telephone playback, dial (855) 859-2056 or (404) 537-3406 for international calls. The conference access code is 7990266.
About APA
APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in Apache Corporation’s Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on February 25, 2021, and in our quarterly reports on Form 10-Q for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Contacts
| Investor: | (281) 302-2286 | Gary Clark |
| Media: | (713) 296-7276 | Phil West |
| Website: | www.apacorp.com |
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