APA Corporation Provides Second-Quarter Supplemental Information and Schedules Results Conference Call for August 5 at 10 a....
July 19 2021 - 4:00PM
APA Corporation (Nasdaq: APA) today provided supplemental
information regarding certain second-quarter 2021 financial and
operational results.
Supplemental quarterly informationTo further
assist analysts with their second-quarter earnings models, the
company is providing the following estimates:
Estimated Average Realized Prices – 2Q21 |
|
Oil (bbl) |
NGL (bbl) |
Natural Gas (Mcf) |
United States |
$65.00 |
$22.75 |
$2.70 |
International |
$67.00 |
$38.50 |
$3.50 |
Egypt tax barrels: |
22-23 MBoe/d |
Realized loss on commodity derivatives (before tax): |
$48 million |
Dry hole costs (before tax): |
$7-11 million |
Second-quarter 2021 production guidance update
APA is providing the following adjustments to its expected
production for the second-quarter 2021: Total Adjusted Production
guidance increases to 342 Mboe/d, which reflects an increase in
U.S. volumes to 241 Mboe/d from previous guidance of 230 Mboe/d,
driven primarily by well performance in the Midland Basin and at
Alpine High. Nearly half of this increase is attributable to oil
volumes. Partially offsetting higher U.S. volumes, International
adjusted production for the second-quarter 2021 is estimated at 101
Mboe/d, compared to 110 Mboe/d in the prior guidance, which is
attributable to production sharing contract effects associated with
higher realized oil prices in Egypt and extended maintenance
downtime in the North Sea, including delays with third-party
infrastructure returning online.
Second-quarter 2021 earnings callAPA
Corporation will host its second-quarter 2021 results conference
call on Thursday, August 5, at 10 a.m. Central time. The company
will issue its earnings release after the market close on
Wednesday, August 4. 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, August
5. To access the telephone playback, dial (855) 859-2056 or (404)
537-3406 for international calls. The conference access code is
6953249.
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 Apache Corporation 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 |
APA-G
APA (NASDAQ:APA)
Historical Stock Chart
From Aug 2024 to Sep 2024
APA (NASDAQ:APA)
Historical Stock Chart
From Sep 2023 to Sep 2024