Reports Q2 revenue $2.612B vs $2.792B last year. “Our strong second-quarter results reflect the continued momentum across our entire portfolio as a result of the hard work and dedication of the APA team,” said John J. Christmann IV, CEO of APA Corporation. “In the Permian, our progress is evident in the numbers, where we exceeded production guidance while reducing our rig count by 25% due to continued efficiency gains in the field. In Egypt, we exceeded our quarterly gas production guidance and have once again increased our expectations for the gas program in the second half of the year. As a testament to our ongoing partnership with the country of Egypt, we have secured presidential approval for the direct award of approximately 2 million additional acres, unlocking a material amount of prospective oil and gas resource that we will begin drilling by the end of the year.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APA:
- Block downgraded, Wayfair upgraded: Wall Street’s top analyst calls
- Stephens starts APA with Equal Weight on risk of S&P 500 exit
- APA Corp. initiated with an Equal Weight at Stephens
- APA Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Early notable gainers among liquid option names on July 28th