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APA Corporation (NASDAQ: APA) is a leading independent energy company engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. Headquartered in Houston, APA operates primarily in the United States, Egypt, the North Sea, and Suriname. As of year-end 2023, APA's proved reserves stood at 807 million barrels of oil equivalent, with a robust net daily production of 405 thousand barrels of oil equivalent, comprised mostly of oil and natural gas liquids.
The company's mission is to generate long-term growth and profitability for its shareholders by building and managing a portfolio that offers sustainable growth opportunities. Recent strategic moves include the acquisition of Callon Petroleum Company, which has significantly bolstered APA's position in the Delaware Basin, increasing its production capacity and enhancing operational efficiencies. APA Corporation now boasts a production tally of approximately 500,000 barrels of oil equivalent per day, with significant contributions from the Permian Basin.
APA’s ongoing commitment to sustainability and environmental stewardship is reflected in initiatives such as the Apache Corporation Tree Grant Program. Since its inception in 2005, the program has donated over 5 million trees, supporting large-scale conservation projects and enhancing public greenspaces.
In addition to its core business, APA has expanded its board with new appointments to further enhance its strategic and operational expertise. The latest additions, Matthew Bob and Anya Weaving, bring valuable insights from their extensive experience in the oil and gas sector.
Financially, APA has shown resilience and strategic acumen through several successful transactions, including the sale of non-core assets. These sales have generated substantial proceeds, aiding in debt reduction and further solidifying the company’s financial standing. Investors can stay updated with APA’s latest financial results, strategic initiatives, and market performance through regular company announcements, press releases, and operational updates available on APA’s official website.
For more information, visit APA Corporation's official website.
APA Corporation (Nasdaq: APA) released supplemental information regarding its first-quarter 2023 financial results, aimed at assisting investors with current estimates. The estimated average realized prices for oil, NGL, and natural gas in the United States are $75.00, $24.00, and $2.40 per unit, respectively. International prices are higher, with oil at $81.00 and NGL at $73.00. The company reported an average production of 41 MBoe/d from Egypt, with a realized gain on commodity derivatives of $20 million, while dry hole costs are estimated to be between $30 million and $40 million. General and administrative expenses are projected at $75 million. The weighted-average shares outstanding for Q1 2023 is estimated at 311 million, compared to 321 million in Q4 2022. A conference call to discuss these results will be held on May 4.
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