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Mar 31, 2025
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
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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