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Jun 30, 2021
APA Q2 2021 Earnings Report
APA Corporation's financial performance improved due to strong well performance, capital discipline, and a favorable price environment.
Key Takeaways
APA Corporation reported a net income of $316 million, or $0.82 per diluted share, for the second quarter of 2021. Adjusted earnings were $266 million, or $0.70 per diluted share. The company generated $969 million in net cash from operating activities and $1.01 billion in adjusted EBITDAX. Free cash flow was $396 million.
Reported production of 395,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 342,000 BOE per day.
Generated net cash from operating activities of $969 million, adjusted EBITDAX of $1.01 billion, and free cash flow of $396 million.
Advanced agreement to modernize Egypt Production Sharing Contracts; expected review by Egyptian Parliament in the fall.
Announced appraisal drilling success offshore Suriname, moving closer to goal of commercial oil development.
APA
APA
APA Revenue by Geographic Location
Revenue by Geographic Location
Egypt Revenue
CapyFin.comNorth Sea Revenue
CapyFin.com Forward Guidance
APA expects to generate approximately $1.7 billion of free cash flow this year to support debt reduction goals.