Earnings ·
APA Corporation reported second-quarter 2026 net income of $747 million, or $2.11 per diluted share, driven by strong…
APAAPA Corp
APA Corporation reported second-quarter 2026 net income of $747 million, or $2.11 per diluted share, driven by strong operational execution across its Permian Basin and Egypt assets. Reported production averaged 410,000 barrels of oil equivalent (BOE) per day, with U.S. oil output at 123,500 barrels per day, exceeding guidance in both categories. The company generated $738 million in free cash flow and returned $189 million to shareholders through dividends and share repurchases during the quarter. APA reduced total debt by $2.3 billion since year-end 2024, lowering annualized interest expense by over $155 million, while raising full-year U.S. oil production guidance to 123,000 barrels per day. Additionally, the company increased its expected 2026 cost savings target to $500 million and advanced exploration efforts through a pending acquisition in Alaska and a partnership with Eni in Uruguay. APA Corporation explores for and produces oil and natural gas in the United States, Egypt, the North Sea, and offshore Suriname.