APA Corporation Provides First-Quarter Supplemental Information and Schedules Results Conference Call for May 6 at 10 a.m. Central Time - Seite 2

Apache also incurred a net loss on oil and gas purchased and sold during the quarter of approximately $54 million. This was primarily attributable to transport, fuel, and physical gas purchases and sales made by Apache to fulfill natural gas takeaway obligations, the extent of which was also exacerbated by the extreme price volatility during the month of February.

The impact of both of these factors on financial results in 1Q21 was unusual and is not expected to recur at this magnitude in future quarters.

First-quarter 2021 earnings call
APA Corporation will host its first-quarter 2021 results conference call on Thursday, May 6 at 10 a.m. Central time. The company will issue its earnings release after the market close on Wednesday, May 5. The full text of the release will be available on the company's website at www.apacorp.com. The conference call will be webcast from APA’s website at investor.apacorp.com, and the webcast replay will be archived there as well. The conference call will also be available for playback by telephone for one week beginning at approximately 4 p.m. Central time, May 6. To access the telephone playback, dial [phone] or [phone] for international calls. The conference access code is 5490148.

About APA

APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.

Forward-looking statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in Apache’s Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on February 25, 2021, for a discussion of risk factors that affect our business. Any forward-looking statement made by APA and/or Apache in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and Apache undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.