APA Q1 2021 Earnings Report
Key Takeaways
APA Corporation reported a net income of $388 million, or $1.02 per diluted share, with adjusted earnings of $346 million, or $0.91 per diluted share. The company generated $502 million in free cash flow and adjusted EBITDAX of $1.14 billion. Production averaged 382,000 BOE per day.
Reported production of 382,000 barrels of oil equivalent (BOE) per day; adjusted production was 326,000 BOE per day.
Generated net cash from operating activities of $671 million, adjusted EBITDAX of $1.14 billion, and free cash flow of more than $500 million.
Delivered upstream capital investment and LOE below guidance.
Announced in January fourth consecutive discovery in Block 58 offshore Suriname at Keskesi East-1 well.
APA
APA
APA Revenue by Geographic Location
Forward Guidance
APA's full-year 2021 guidance is unchanged, with clear visibility into at least $1 billion of free cash flow generation for the year, the vast majority of which will be directed to reducing net debt.