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Mar 31
APA Q1 2025 Earnings Report
APA delivered strong Q1 2025 results, reporting $347 million in net income and $1.5 billion in adjusted EBITDAX, driven by production growth and capital efficiency gains.
Key Takeaways
APA reported $2.64 billion in total revenue and $347 million in net income for Q1 2025. Adjusted earnings were $385 million, or $1.06 per share, and free cash flow reached $126 million. The company made operational progress across the Permian and Egypt and confirmed a significant discovery in Alaska.
Net income attributable to common stock was $347 million, or $0.96 per diluted share
Adjusted EBITDAX totaled $1.5 billion for the quarter
Free cash flow came in at $126 million
Production averaged 469,000 BOE/d with 398,000 BOE/d on an adjusted basis
APA
APA
APA Revenue by Segment
APA Revenue by Geographic Location
Revenue by Segment
Oil Revenue
CapyFin.comNatural gas Revenue
CapyFin.comNGL Revenue
CapyFin.comPurchased oil and gas Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEgypt Revenue
CapyFin.comNorth Sea Revenue
CapyFin.com Forward Guidance
APA maintained its full-year U.S. oil production guidance while reducing 2025 development capital by $150 million to preserve free cash flow amid commodity price volatility.
Positive Outlook
- Reduced 2025 development capital guidance by $150 million
- Efficiency gains allow Permian oil volumes to be held flat with 6.5 rigs
- Expected 2025 savings raised to $130 million, run-rate to $225 million
- Increased Egypt gas price realization guidance from drilling success
- Confirmed Sockeye-2 discovery well with high-quality reservoir in Alaska
Challenges Ahead
- Reduction in rigs to 6 by end of Q2 may impact activity levels
- Oil production impacted by 1,000 b/d from weather and third-party downtime
- Sale of New Mexico Permian assets may reduce full-year output by 12.4 Mboe/d
- Volatility in commodity prices continues to pose downside risks
- Capital reallocation from asset sales focused on debt reduction, limiting reinvestment flexibility
Revenue & Expenses
Visualization of income flow from segment revenue to net income