APA Corp (US) Stock Price, News & Analysis

APA Corporation (Nasdaq: APA) has announced its financial and operational results for the first quarter of 2025. The company has made the detailed results available on their corporate website at www.apacorp.com and investor.apacorp.com. A conference call is scheduled for May 8 at 10 a.m. Central time to discuss these results, with a webcast link available on the company website. The call recording will be accessible for one year on the company's "Investors" page.

Permian Resources (NYSE: PR) reported strong Q1 2025 results with record adjusted free cash flow of $460 million. The company achieved crude oil production of 175.0 MBbls/d and total production of 373.2 MBoe/d. PR announced a strategic $608 million acquisition of Northern Delaware Basin assets, including 13,320 net acres and 8,700 net royalty acres, expected to add ~12 MBoe/d production. The company reduced its 2025 capital budget mid-point by $50 million to $1.95 billion while maintaining production guidance. Financial highlights include reduced drilling costs to $750 per foot, strong balance sheet with 0.8x leverage, and $3.2 billion in liquidity. PR declared a base dividend of $0.15 per share (5.0% yield) and repurchased 4.1 million shares at $10.52 per share. The company maintains a strong hedging position with 25% of oil production hedged, positioning it well for market volatility.

Kinetik Holdings has announced the upcoming retirement of Anne Psencik, Chief Strategy Officer, effective June 30, 2025. Psencik will maintain her current responsibilities until her retirement date and will transition to a consulting role afterward.

During her six-year tenure, Psencik has been instrumental in managing risk and advising on commercial and investment opportunities. She has served as Chief Strategy Officer since 2019, bringing over 35 years of experience in the oil and gas industry, with expertise in:

• Midstream business development
• Trading operations
• Engineering and construction

Jamie Welch, Kinetik's President & CEO, acknowledged Psencik's valuable leadership and significant contributions to the company's long-term growth strategy.

APA and partners Lagniappe Alaska and Santos have announced successful flow test results from the Sockeye-2 exploratory well in Alaska's North Slope. The well, drilled to approximately 10,500 feet, encountered a high-quality Paleocene-aged clastic reservoir with 20% average porosity.

The vertical well, completed in a single 25-foot interval at 9,200 feet TVD without stimulation, averaged 2,700 barrels of oil per day during the final flow period of the 12-day production test, without artificial lift. APA holds a 50% working interest in the 325,411-acre exploratory block, while Lagniappe and Santos each hold 25%.

The test results indicate significantly higher reservoir quality compared to similar topset discoveries to the west, extending the Brookian topset play first established with the Pikka discovery in 2013.

Kinetik Holdings (NYSE: KNTK) has announced a quarterly cash dividend of $0.78 per share ($3.12 annualized), payable on May 2, 2025, to shareholders of record as of April 25, 2025. The company will release its first quarter 2025 earnings after market close on May 7, 2025, followed by a conference call on May 8, 2025.

The company has implemented a Dividend Reinvestment Plan (DRIP) available to all shareholders. Shareholders can register for the DRIP through Broadridge's website or by contacting Broadridge Corporate Issuers, , the Plan Administrator.

APA (Nasdaq: APA) has announced significant executive leadership changes effective May 2025. Ben Rodgers has been promoted to Executive Vice President and Chief Financial Officer, overseeing all financial activities including Accounting, Audit, Investor Relations, Planning, Tax and Treasury. Rodgers, who joined APA in 2018, previously served as SVP, Finance and Treasurer.

The company has also strengthened its operational leadership with two key appointments: Shad Frazier as Senior Vice President of U.S. Onshore Operations, bringing nearly 30 years of industry experience from Endeavor Energy Resources, and Donald Martin as Vice President of Decommissioning, with 20 years of operations and decommissioning portfolio experience from Spirit Energy E&P.

Steve Riney will continue as president, overseeing asset development and operations.

APA has released supplemental information for Q1 2025, revealing key financial and operational metrics. The company's average realized prices showed variations between U.S. and international operations, with U.S. oil at $72.40/bbl and international at $75.10/bbl. Natural gas prices were notably different, with U.S. at $2.00/Mcf and international at $4.15/Mcf.

During Q1, APA curtailed approximately 8 MMcf/d of U.S. natural gas production and 500 barrels per day of natural gas liquids due to weak Waha hub prices. The company reported Egypt tax barrels at 32-33 MBoe/d and a net gain of $120 million on oil and gas purchases and sales. General and administrative expenses stood at $115 million.

Notable shareholder activity included the repurchase of 4.4 million shares at an average price of $22.87, bringing the weighted-average basic common shares to 364 million for Q1 2025, down from 369 million in Q4 2024. The company will discuss detailed results in a conference call scheduled for May 8 at 10 a.m. Central time.

APA (NYSE, Nasdaq: APA) and partners Lagniappe Alaska and Oil Search have announced a significant oil discovery at the Sockeye-2 exploratory well in Alaska's North Slope. The well, drilled to approximately 10,500 feet, revealed a high-quality reservoir with 25 feet of net oil pay in a Paleocene-aged sand formation, featuring an impressive 20% average porosity.

The Sockeye prospect spans 25,000 to 30,000 acres, with APA holding a 50% working interest, while operator Lagniappe and Santos each hold 25%. Additional potential pay zones were discovered in the shallower Staines Tongue formation. This marks the partnership's second successful exploratory well on their 325,411-acre position, following the King Street-1 discovery which found oil in two separate Brookian Zones.

The partners are currently conducting further evaluation, including core acquisition and flow testing, with updates to follow upon completion of these tests.

Kinetik Holdings (NYSE: KNTK) has announced the pricing of $250 million in sustainability-linked senior notes through its subsidiary Kinetik Holdings LP. The notes, priced at 101.25% of par, carry a 6.625% interest rate and will mature on December 15, 2028.

These new notes are an addition to the existing $800 million sustainability-linked notes issued under the same terms. Interest payments will be made semi-annually on June 15 and December 15, with the first payment scheduled for June 15, 2025. The offering is expected to close on March 19, 2025.

The interest rate is tied to Kinetik's performance against sustainability targets outlined in their Sustainability-Linked Financing Framework from May 16, 2022. The proceeds will be used for general corporate purposes, including repaying revolving credit facility borrowings.