APA Corporation Provides Fourth-Quarter 2024 Supplemental Information and Schedules Results Conference Call for February 27 at 10 a.m. Central Time

HOUSTON, Jan. 22, 2025 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain fourth-quarter 2024 financial and operational results. This information is intended only to provide additional information regarding current estimates management believes will affect results for the fourth-quarter 2024. It is provided to assist investors, analysts and others in formulating their own estimates, and is not intended to be a comprehensive presentation of all factors that will affect fourth-quarter 2024 results. Actual results and the impact of factors identified here may vary depending on the impact of other factors not identified here and are subject to finalization of the financial reporting process for fourth-quarter 2024.

Estimated Average Realized Prices – 4Q24
	Oil (bbl)		NGL (bbl)		Natural Gas (Mcf)
United States	$70.25		$24.50		$1.00
International	$74.75		$50.50		$4.00

Egypt tax barrels:	35 MBoe/d
Realized gain on commodity derivatives (before tax):	$1 million
Dry hole costs (before tax):	$30 million
Net gain on oil and gas purchases and sales (before tax):	$140 million
General and administrative expense:	$100 million

Production update

APA curtailed approximately 23.5 MBoe/d in the fourth quarter in response to weak or negative Waha hub prices. Fourth-quarter 2024 guidance issued in November contemplated curtailments of 22 MBoe/d.

Asset sale update

In September, APA announced an agreement to divest non-core assets in the Permian Basin. This divestiture closed on Dec. 31, 2024. After a deposit of $95 million received in September and a purchase price adjustment for the effective date of July 1, 2024, net proceeds were approximately $774 million.

Weighted-average shares outstanding

The estimated weighted-average basic common shares for the fourth quarter is 369 million, compared with a weighted average of 370 million shares in the third-quarter 2024. APA repurchased 4.6 million shares at an average price of $21.90 per share during the fourth quarter.