Welcome to our dedicated page for APA (US) news (Ticker: APA), a resource for investors and traders seeking the latest updates and insights on APA (US) stock.
APA Corporation reports developments from an independent oil and gas exploration and production business with consolidated subsidiaries operating in the United States, Egypt and the United Kingdom, and exploration activity offshore Suriname and elsewhere. Company news commonly covers financial and operating results, production trends, realized prices for oil, natural gas liquids and natural gas, capital spending, cost initiatives and commodity-price effects on U.S. natural gas and NGL activity.
Recurring updates also include common-stock dividends, debt and shareholder-return commentary, conference-call materials, supplemental operating data and listing matters. The company’s disclosures link operating performance to its upstream asset base, including U.S. oil activity, international production and offshore exploration programs.
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.
APA Corporation (Nasdaq: APA) announced that the Egyptian Parliament approved its agreement to modernize and consolidate Production Sharing Contracts (PSCs) with Egypt's Ministry of Petroleum. This decision awaits ratification from President Abdel Fattah El-Sisi. The consolidation of concessions will simplify operations and is expected to enhance investment recovery. APA plans to increase drilling activity, having already raised its rig count to 11 in anticipation. The new PSC is projected to significantly impact production growth and strengthen Egypt's role as a regional energy hub.
APA Corporation announced successful flow testing at the Sapakara South appraisal well and drilling results from the Bonboni exploration well in offshore Suriname, where it holds a 50% working interest. The Sapakara South-1 well achieved a flow rate of 4,800 barrels of oil per day and has an estimated resource of 325 to 375 million barrels of oil in place. However, the Bonboni-1 well encountered insufficient resources to support commercial development and will be plugged. Future drilling includes the Krabdagu prospect, which may enhance development potential.
APA Corporation (Nasdaq: APA) announced its third-quarter 2021 results on Nov. 3, 2021. Detailed results are available on the company's website. A conference call to discuss these results is scheduled for Nov. 4 at 10 a.m. Central time, and will be accessible via webcast and telephone replay. APA Corporation operates in oil and gas exploration and production across the United States, Egypt, the UK, and Suriname.
APA Corporation has announced a significant increase in its quarterly cash dividend, raising it from 6.25 cents to 12.5 cents per share.
This adjustment translates to an annualized dividend of 50 cents per share, marking a 100% increase from the prior 25 cents. The dividend is set to be paid on February 22, 2022, to shareholders on record by January 21, 2022. CEO John J. Christmann IV expresses confidence in the company's cash flow generation amid a positive pricing environment.
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APA Corporation reported its third-quarter 2021 financial and operational results on October 15, 2021. The company provided estimates for average realized prices: $70.00 for U.S. oil and $73.00 for international oil. NGL prices were $30.75 in the U.S. and $55.25 internationally, while natural gas was priced at $3.70 and $4.10, respectively. The company also projected Egypt tax barrels at 23-24 MBoe/d and stated a realized loss of $37 million on commodity derivatives. The third-quarter earnings call is scheduled for November 4, 2021.
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APA Corporation (Nasdaq: APA) announced that its subsidiary, Apache Corporation, has successfully ended routine flaring in its U.S. onshore operations, achieving this significant ESG goal three months ahead of schedule. This accomplishment reflects the company’s commitment to reducing its environmental impact and includes investments exceeding $850 million in new natural gas pipelines. CEO John Christmann IV emphasized the importance of responsible energy production while maintaining high environmental standards. Additionally, APA is on track to meet other ESG targets for 2021.
APA Corporation announced the results of its Keskesi South-1 appraisal well in Block 58, offshore Suriname, revealing non-commercial quantities of hydrocarbons. Drilled 6.2 kilometers from Keskesi East-1, this well has been plugged and abandoned due to unsuitable reservoir quality sands. Data from this well will aid in refining the geological model for future assessments. The Maersk Developer has shifted focus to the Sapakara South-1 well for a flow test, with plans to continue exploration in the area. APA holds a 50% interest in Block 58 and has previously achieved four exploration discoveries in the last two years.