APA Corp (US) Stock Price, News & Analysis

APA Corporation (Nasdaq: APA) has appointed Dave Stover to its board of directors, where he will also serve on the Audit Committee. Stover brings over 40 years of experience in the oil and gas industry, including leadership roles at Noble Energy, where he served as Chairman and CEO until 2020. His extensive background includes key positions at BP and Vastar Resources. The board expressed confidence that Stover's expertise will enhance APA's mission to generate long-term value for shareholders.

APA Corporation (Nasdaq: APA) disclosed its financial results for the fourth quarter and full year 2021. The results detail the company's performance in oil and natural gas exploration and production across various regions, including the United States, Egypt, and the UK. A conference call to discuss these results is scheduled for February 22 at 10 a.m. Central time, accessible via webcast and telephone replay. For further information, stakeholders can visit the company's website, where additional updates and investor-related topics are also posted.

APA Corporation announced a significant oil discovery at the Krabdagu-1 (KBD-1) exploration well in Block 58 offshore Suriname. The well, drilled to approximately 5,273 meters, encountered around 90 meters of net oil pay. APA holds a 50% working interest, alongside TotalEnergies. The discovery validates geological models and supports further exploration efforts in the area, aiming for a future Final Investment Decision (FID). TotalEnergies plans to conduct additional testing during the rig's stay to evaluate the resource potential and productivity of the reservoirs.

APA Corporation (Nasdaq: APA) has announced a cash dividend of 12.5 cents per share, payable on May 23, 2022, to stockholders of record by April 22, 2022. This dividend distribution reflects the company's commitment to returning value to its shareholders while maintaining operational activities in oil and gas exploration across the United States, Egypt, the United Kingdom, and offshore Suriname. The announcement underscores APA's ongoing efforts to support stockholder income and its confidence in future business performance.

APA Corporation (Nasdaq: APA) has appointed Retired Lieutenant General Charles Hooper to its board of directors, effective February 3, 2022. Hooper brings extensive experience from his 41-year military career, including leadership roles in security cooperation and foreign military sales. He will serve on the Corporate Responsibility, Governance, and Nominating Committee, as well as the Management Development and Compensation Committee. APA’s leadership believes Hooper's expertise will enhance the company's ability to address global energy needs responsibly.

APA Corporation will host its fourth-quarter 2021 financial results conference call on February 22, 2022, at 10 a.m. Central time. The earnings release will be available the prior day, February 21. Investors can access the call via the company’s website, with a telephone playback option available for one week post-call. APA operates in oil and gas exploration and production, with presence in the U.S., Egypt, the U.K., and offshore Suriname. For more details, visit www.apacorp.com.

APA Corporation (Nasdaq: APA) provided supplemental financial and operational information for the fourth quarter of 2021. The company reported average realized prices of $76.00 per barrel for oil and $34.00 per barrel for NGL in the U.S., while international prices were $80.00 and $70.00, respectively. A realized loss on commodity derivatives was noted at $38 million, with dry hole costs estimated between $25-30 million. The weighted-average shares outstanding decreased to 361 million from 379 million in the previous quarter, following the repurchase of approximately 31.8 million shares at an average price of $27.13.

APA Corporation has signed a modernized Production Sharing Contract (PSC) with Egypt's Ministry of Petroleum, effective retroactively from April 1, 2021. This agreement consolidates 90% of gross production into a single concession and extends the lease terms for 20 years. The APA-Sinopec Joint Venture plans to double its Egypt rig count to 15 and invest approximately $235 million in 2022, with expected production growth of 13% to 15%. The agreement also allows for the recovery of $900 million in backlogged costs and includes a $100 million signature bonus.