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 (NASDAQ: APA) is an upstream oil and natural gas company whose news flow reflects its role in the crude petroleum and natural gas extraction industry. The company regularly issues press releases and SEC filings that cover exploration and production activities, regional developments and financial performance across its portfolio.
According to APA, its subsidiaries explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom, and explore for oil and natural gas offshore Suriname and elsewhere. News about APA often highlights operational updates in these regions, including realized prices by area, production curtailments in response to regional price conditions and payments related to its longstanding partnership with the Egyptian General Petroleum Corporation.
Investors following APA news can expect updates on quarterly financial and operating results, supplemental information on realized prices and regional metrics, and announcements of regular cash dividends on common shares. The company also reports on governance developments, such as the appointment of a new vice president, Chief Accounting Officer and Controller, along with details of that role’s responsibilities and compensation structure as disclosed in Form 8-K filings.
APA’s subsidiary Apache Corporation contributes additional news related to environmental and community initiatives, including the Apache Tree Grant Program, which donates trees to nonprofit organizations and government agencies in the company’s operational areas. These stories provide context on how APA associates its upstream business with environmental stewardship and community engagement.
This news page aggregates APA-related press releases, regulatory disclosures and other coverage so readers can review the company’s latest announcements on operations, regional developments, dividends, governance changes and community programs in one place.
APA has released supplemental information for its third-quarter 2024 financial and operational results. Key highlights include:
- Estimated average realized prices for oil, NGL, and natural gas in the US and internationally
- Egypt tax barrels at 35 MBoe/d
- Realized gain on commodity derivatives of $3 million
- Dry hole costs between $10-$15 million
- Net gain on oil and gas purchases and sales of $178 million
- General and Administrative Expense of $100 million
APA curtailed approximately 103 MMcf/d of U.S. natural gas production and 10,000 barrels per day of natural gas liquids due to weak Waha hub prices. The company also announced a $950 million divestiture of non-core Permian Basin assets. APA repurchased 0.1 million shares at an average price of $29.32 per share during Q3. The company will host its Q3 2024 earnings call on November 7 at 10 a.m. Central time.
Apache , a subsidiary of APA (Nasdaq: APA), has announced the donation of over 134,000 trees to 52 nonprofit organizations through its annual Tree Grant Program. Since 2005, the program has granted more than 5 million trees to over 1,000 partners. The 2024-25 recipients span diverse ecosystems across Texas, New Mexico, and Louisiana.
Key partners include Harris County Precinct 4, Texas Parks & Wildlife Department (TPWD), and Big Bend Conservation Alliance (BBCA). The program aims to support conservation, beautification, and environmental stewardship in urban areas, rural communities, and wildlife preservations. Recipients are chosen based on location, potential environmental impact, and community engagement opportunities.
APA has announced a positive final investment decision (FID) for the first oil development in Block 58, offshore Suriname. The project, named GranMorgu, will include production from the Krabdagu and Sapakara oil discoveries, with estimated recoverable resources of over 750 million barrels of oil. The total investment is estimated at $10.5 billion, with first oil expected in 2028.
The development will feature a Floating Production Storage and Offloading (FPSO) unit with a capacity of 220,000 barrels of oil per day. TotalEnergies EP Suriname B.V. is the operator with a 50% interest, alongside APA Suriname 58 LDC (50%). The project will incorporate new technologies to minimize greenhouse gas emissions, including an all-electric FPSO configuration with zero routine flaring and full reinjection of associated gas.
Kinetik Holdings Inc. (NYSE: KNTK) has announced that Todd Carpenter, General Counsel and Chief Compliance Officer, will retire from the company effective February 28, 2025. Mr. Carpenter will continue his current responsibilities and ensure a smooth transition until his retirement. After retiring, he will provide ongoing support to the company.
Kinetik has begun an internal and external search for Mr. Carpenter's successor and will announce the appointment in due course. Jamie Welch, Kinetik's President & Chief Executive Officer, praised Mr. Carpenter's almost 40-year legal career and his contributions to the company over the past seven years, expressing gratitude for his counsel, friendship, and dedicated service to Kinetik.
Palantir Technologies Inc. (NYSE: PLTR) and APA (NASDAQ: APA) have announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021. The partnership expansion introduces new artificial intelligence capabilities with Palantir's Artificial Intelligence Platform (AIP) software.
Over the past three years, Palantir has deployed its software across APA's global portfolio for various use-cases including operational planning, supply chain management, maintenance planning, production optimization, and contract management. The AIP software has enabled APA to improve production equipment reliability, optimize raw material logistics, and detect anomalies in contract and invoice documents.
The extended partnership aims to further enhance operational efficiency and business visibility across APA's global portfolio, with a focus on accelerating performance and cost management.
Diamondback Energy, Kinetik Holdings, and EPIC Midstream have announced transformative transactions for EPIC Crude Holdings. Key highlights include:
1. Diamondback and Kinetik acquired a 30% equity interest in EPIC Crude, now each owning 27.5%.
2. Diamondback increased its volume commitment to 200 MBpd.
3. Kinetik entered a new transportation arrangement with EPIC Crude.
4. Combined long-term volume commitments from partners represent over 33% of EPIC Crude's capacity.
5. EPIC Crude transports over 600 MBpd and has secured MVCs or contracts for ~90% of 2025 total volumes.
These actions aim to strengthen EPIC Crude's financial profile, reduce costs, and enhance returns. The company is positioned for potential expansion, with partners having an option for about one-third of the expansion capacity.
APA (Nasdaq: APA) has announced a regular cash dividend on its common shares. The board of directors declared a dividend of 25 cents per share, payable on November 22, 2024, to stockholders of record as of October 22, 2024. This decision demonstrates APA's commitment to returning value to shareholders and maintaining a consistent dividend policy. The announcement provides clarity on the upcoming dividend payment and relevant dates for investors to consider.
APA has announced the sale of non-core producing properties in the Permian Basin for $950 million. The properties, located in various areas of Texas and New Mexico, currently produce an estimated 21,000 barrels of oil equivalent per day, with 57% being oil. The transaction, expected to close in Q4 2024, will primarily use proceeds to reduce debt.
CEO John J. Christmann IV highlighted that this sale, along with other transactions, has high-graded and focused APA's U.S. asset base. The company has increased its onshore U.S. production by approximately 66,000 boe/d in 2024 without materially changing net debt levels compared to year-end 2023. Pro-forma Q4 U.S. production guidance is set at 307,000 boe/d, a 34% increase from Q4 2023.
Kinetik Holdings Inc. (NYSE: KNTK) has published its 2023 Sustainability Report, highlighting significant progress in environmental, safety, and sustainability initiatives. Key achievements include:
• 83% reduction in Total Recordable Incident Rate and zero lost time incidents
• 32% reduction in methane emissions intensity since 2021
• 14% reduction in greenhouse gas emissions intensity since 2021
• Formation of New Energy Ventures group to explore clean energy opportunities
• Partnership with Infinium for ultra low-carbon e-Fuels production
These accomplishments were achieved despite a 25% increase in natural gas volumes since 2021. The company implemented various technologies and programs to reduce emissions, including upgrading pneumatics, electrifying compression, and enhancing leak detection. Kinetik remains committed to fostering a culture of safety, environmental responsibility, and community engagement.
Kinetik Holdings Inc. (NYSE: KNTK) reported strong financial results for Q2 2024, with net income of $108.9 million, up 52% year-over-year, and Adjusted EBITDA of $234.4 million, a 13% increase. The company revised its 2024 Adjusted EBITDA guidance to $940-$980 million and Capital Expenditures guidance to $260-$300 million. Kinetik completed the acquisition of Durango Permian, and divested its 16% stake in Gulf Coast Express pipeline. The company sanctioned pre-FID work for Kings Landing II, doubling processing capacity. Kinetik processed 1.58 Bcf/d of natural gas in Q2, a 7% increase year-over-year. The company declared a quarterly dividend of $0.75 per share and achieved a leverage ratio of 3.4x.