APA Corporation 8-K, filed Aug 5, 2026

Summary

APA Corporation reported second-quarter 2026 net income attributable to common stock of $747 million, or $2.11 per diluted share, on reported production of about 410,000 barrels of oil equivalent per day, and raised its full-year U.S. oil production guidance to 123,000 barrels per day while keeping U.S. capital at $1.3 billion. The company also increased its expected 2026 exit run-rate cost savings target to $500 million from $450 million, and said its pending $70 million acquisition of Savant Alaska, LLC and a new offshore Block 6 partnership with Eni S.p.A in Uruguay would advance its exploration portfolio.

Key points

• Second-quarter 2026 adjusted production was 347,000 BOE per day and reported production was 410,000 BOE per day, both above guidance; U.S. oil production averaged 123,500 barrels per day, 2,500 above guidance.
• APA generated $1.7 billion of net cash from operating activities, $738 million of free cash flow and $1.8 billion of adjusted EBITDAX, and returned $189 million to shareholders through dividends and buybacks.
• APA repaid $752 million of near-term bond debt in the first half of 2026 and has cut total debt by $2.3 billion since year-end 2024, lowering annualized interest expense by more than $155 million.
• The pending Savant Alaska acquisition carries $70 million in upfront consideration plus contingent payments, with closing expected by year-end 2026 subject to regulatory approval; in Uruguay's offshore Block 6 APA will retain a 60% working interest with Eni funding most of an initial exploration well planned for 2027.

Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.