APA Corporation 10-Q, filed Nov 5, 2026

Summary

APA Corporation reported third-quarter 2026 net income attributable to common stock of $698 million, or $2.00 per diluted share, up from $205 million, or $0.57 per diluted share, a year earlier, driven primarily by higher oil revenues on stronger crude price realizations. The company said it expects to close its acquisition of Savant Alaska, LLC in the fourth quarter of 2026 for about $70 million in upfront consideration plus contingent payments tied to future development of its Alaska position.

Key points

• First-nine-months 2026 net income attributable to common stock was $1.9 billion, or $5.36 per diluted share, versus $1.2 billion, or $3.20 per diluted share, a year earlier, with $3.6 billion of cash generated from operating activities.
• Worldwide production averaged 450,276 boe/d in the third quarter of 2026, down 3% year over year, as U.S. volumes rose 5% while Egypt fell 12% and the North Sea fell 27%.
• APA anticipates reaching $500 million in annualized cost savings by the end of 2026 and targets returning at least 60% of free cash flow annually through dividends and share repurchases.
• The company repurchased 111.5 million shares from the fourth quarter of 2021 through the third quarter of 2026, had 44.0 million shares of remaining authorization as of October 31, 2026, and has reduced total debt by $4.2 billion since year-end 2021.
• The Savant Alaska transaction is expected to add approximately 104,000 gross acres and about 1,500 b/d of oil production upon closing.

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