APA Corp shares Q1 2026 supplemental metrics
APA Corporation furnished supplemental estimates for its first-quarter 2026 financial and operating results and scheduled an earnings call for May 7 at 10 a.m. Central Time.
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Form Type
8-K
Rhea-AI Filing Summary
APA Corporation furnished supplemental estimates for its first-quarter 2026 financial and operating results and scheduled an earnings call for May 7 at 10 a.m. Central Time. Estimated average realized prices were $72.50 per barrel for U.S. oil and $85.70 per barrel for international oil, with U.S. natural gas at $(0.35) per Mcf and international natural gas at $4.60 per Mcf.
The company reported Egypt tax barrels of 43 MBoe/d, dry hole costs of $11 million before tax, and a net gain of $244 million on oil and gas purchases and sales, including a $66 million realized loss from commodity derivatives. General and administrative expenses were $115 million, including about $25 million of higher-than-expected stock-based compensation tied to share price increases. APA also curtailed approximately 88 MMcf/d of U.S. natural gas and 6,800 barrels per day of U.S. NGLs in response to weak or negative Waha hub prices.
Insights
APA outlines Q1 2026 pricing, special items and curtailments, with higher G&A.
APA Corporation provides an early look at key moving pieces for first-quarter 2026. Estimated realized prices show stronger international oil and gas pricing, with oil at $85.70 per barrel and gas at $4.60 per Mcf, while U.S. gas pricing was negative at $(0.35) per Mcf, highlighting regional weakness.
Special items include Egypt tax barrels of 43 MBoe/d, dry hole costs of $11 million before tax, and a net gain of $244 million on oil and gas purchases and sales that incorporates a $66 million realized loss from commodity derivatives. General and administrative expenses of $115 million include about $25 million of higher-than-expected stock-based compensation driven by share price appreciation.
Operationally, APA curtailed around 88 MMcf/d of U.S. natural gas and 6,800 barrels per day of U.S. NGLs due to weak or negative Waha hub prices, which will weigh on reported volumes for the quarter. Investors can hear full results and management’s commentary on the conference call scheduled for May 7 at 10 a.m. Central Time.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
U.S. oil realized price: $72.50 per bbl
International oil realized price: $85.70 per bbl
International gas realized price: $4.60 per Mcf
+5 more
8 metrics
U.S. oil realized price
$72.50 per bbl
Estimated average realized price for 1Q26 United States oil
International oil realized price
$85.70 per bbl
Estimated average realized price for 1Q26 international oil
International gas realized price
$4.60 per Mcf
Estimated average realized price for 1Q26 international natural gas
Net gain on purchases/sales
$244 million
Before tax, including $66 million realized loss from commodity derivatives in 1Q26
G&A expenses
$115 million
First-quarter 2026 general and administrative expenses, including ~$25 million higher stock-based compensation
Dry hole costs
$11 million
Before tax, first-quarter 2026 dry hole costs
Egypt tax barrels
43 MBoe/d
First-quarter 2026 Egypt tax barrels rate
U.S. gas curtailed
88 MMcf/d
Approximate curtailed U.S. natural gas production in 1Q26 due to Waha prices
Key Terms
Egypt tax barrels, Dry hole costs, commodity derivatives, general and administrative expenses, +2 more
6 terms
Egypt tax barrels financial
"Egypt tax barrels: | 43 MBoe/d"
Dry hole costs financial
"Dry hole costs (before tax): | $11 million"
Costs incurred drilling and testing a well that does not find commercially producible oil or natural gas. These expenses cover items such as rig time, labor, supplies and seismic adjustments related specifically to that unsuccessful well; because the well yields no saleable hydrocarbons the money cannot be recovered from production and is treated as an exploration loss for that project. Accounting treatment varies by reporting method—under the successful-efforts method dry hole costs are typically expensed when incurred, while under the full-cost method they may be capitalized within the cost pool for the capitalized oil-and-gas asset base—so the term describes the economic outcome (an unsuccessful well) rather than a single required accounting entry.
commodity derivatives financial
"*Includes $66 million realized loss from commodity derivatives"
Commodity derivatives are financial contracts whose value is tied to the price of a physical raw material—such as oil, gold, wheat or copper—and they let parties lock in or bet on future prices without necessarily owning the actual goods. For investors, they matter because they offer ways to protect profits from wild price swings (like locking the price of fuel ahead of a trip) or to gain exposure and potential returns through leverage, but they also carry higher risk and require close attention to market supply, demand and storage factors.
general and administrative expenses financial
"General and administrative expenses: | $115 million"
Costs a company pays to run its basic operations that are not directly tied to making a product or delivering a service, such as executive salaries, office rent, utilities, accounting, legal and human resources. Investors care because these steady overhead costs reduce profits and cash flow regardless of sales volume, so changes in them reveal how efficiently management runs the business—like household bills that shrink or grow independently of how much you earn.
mark-to-market impacts financial
"reflecting mark-to-market impacts of APA’s share price increase"
Waha hub prices market
"in response to weak or negative Waha hub prices"
Earnings Snapshot
U.S. oil realized price: $72.50 per bbl
first quarter 2026
U.S. oil realized price
$72.50 per bbl
International oil realized price
$85.70 per bbl
Net gain on oil and gas purchases and sales
$244 million before tax
General and administrative expenses
$115 million
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What supplemental first-quarter 2026 information did APA (APA) provide?
APA released estimated realized prices, key cost items, and selected operating metrics for first-quarter 2026. It highlighted Egypt tax barrels, dry hole costs, a net gain on oil and gas purchases and sales, and detailed general and administrative expenses including stock-based compensation impacts.
What realized commodity prices did APA (APA) estimate for Q1 2026?
APA estimated U.S. oil at $72.50 per barrel and international oil at $85.70 per barrel for Q1 2026. U.S. natural gas was $(0.35) per Mcf and international natural gas was $4.60 per Mcf, illustrating strong overseas pricing versus weak U.S. gas markets.
How much production did APA (APA) curtail in Q1 2026?
APA curtailed about 88 MMcf/d of U.S. natural gas and 6,800 barrels per day of U.S. natural gas liquids in Q1 2026. These curtailments were a response to weak or negative Waha hub prices and will reduce reported U.S. volumes for the quarter.
What were APA’s (APA) estimated general and administrative expenses for Q1 2026?
APA reported first-quarter 2026 general and administrative expenses totaling $115 million. This figure includes roughly $25 million of higher-than-expected stock-based compensation, which the company attributes to mark-to-market impacts from an increase in APA’s share price during the quarter.
What special items affected APA’s (APA) Q1 2026 results estimates?
Special items include Egypt tax barrels of 43 MBoe/d, dry hole costs of $11 million before tax, and a net gain of $244 million on oil and gas purchases and sales. That net gain includes a $66 million realized loss from commodity derivatives, shaping reported earnings drivers.
When is APA’s (APA) first-quarter 2026 earnings conference call?
APA plans to hold its first-quarter 2026 earnings conference call on May 7 at 10 a.m. Central Time. The call will be webcast on the company’s main and investor websites, with a replay available on the Investors page for one year following the event.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 14, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (713 ) 296-6000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Name of each exchange | |||||||||||||||||
Title of each class | Trading Symbol(s) | on which registered | |||||||||||||||
| Nasdaq Texas, LLC | |||||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as set forth by specific reference in such filing.
Item 2.02. Results of Operations and Financial Condition.
On April 14, 2026, APA Corporation issued a press release announcing supplemental information regarding certain financial and operating results for the fiscal quarter ended March 31, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
| Exhibit No. | Description | ||||||||||
| 99.1 | Press Release of APA Corporation dated April 14, 2026. | ||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
APA CORPORATION
| Date: | April 14, 2026 | By: | /s/ Robert P. Rayphole | ||||||||
| Robert P. Rayphole | |||||||||||
| Vice President, Chief Accounting Officer, and Controller | |||||||||||
| (Principal Accounting Officer) | |||||||||||
APA Corporation Provides First-Quarter 2026 Supplemental Information and
Schedules Results Conference Call for May 7 at 10 a.m. Central Time
HOUSTON, April 14, 2026 -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain first-quarter 2026 financial and operational results. This information is intended only to provide additional information regarding current estimates management believes will affect results for the first quarter of 2026. 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 first-quarter 2026 results. Actual results and the impact of factors identified here may vary and are subject to finalization of the financial reporting process for the first quarter of 2026.
| Estimated Average Realized Prices – 1Q26 | |||||||||||
Oil (bbl) | NGL (bbl) | Natural Gas (Mcf) | |||||||||
United States | $72.50 | $19.80 | $(0.35) | ||||||||
International | $85.70 | $49.20 | $4.60 | ||||||||
Egypt tax barrels: | 43 MBoe/d | ||||
Dry hole costs (before tax): | $11 million | ||||
Net gain on oil and gas purchases and sales (before tax)*: | $244 million | ||||
General and administrative expenses: | $115 million | ||||
*Includes $66 million realized loss from commodity derivatives
APA CORPORATION PROVIDES FIRST-QUARTER 2026 SUPPLEMENTAL INFORMATION AND SCHEDULES RESULTS CONFERENCE CALL FOR MAY 7 AT 10 A.M. CENTRAL TIME
— PAGE 2 of 3
Production update
APA curtailed approximately 88 MMcf/d of U.S. natural gas production and 6,800 barrels per day of U.S. natural gas liquids production in the first quarter in response to weak or negative Waha hub prices.
General and administrative
During the first quarter, APA incurred general and administrative expenses totaling $115 million. This includes approximately $25 million of higher-than-expected stock-based compensation, reflecting mark-to-market impacts of APA’s share price increase during the quarter.
First-quarter 2026 earnings call
APA will host a conference call to discuss its first-quarter 2026 results at 10 a.m. Central Time, Thursday, May 7. The conference call will be webcast from APA’s website at www.apacorp.com and investor.apacorp.com. Following the conference call, a replay will be available for one year on the “Investors” page of the company’s website.
About APA
APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “goals,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and
APA CORPORATION PROVIDES FIRST-QUARTER 2026 SUPPLEMENTAL INFORMATION AND SCHEDULES RESULTS CONFERENCE CALL FOR MAY 7 AT 10 A.M. CENTRAL TIME
— PAGE 3 of 3
predictions depends on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in APA’s Form 10-K for the year ended December 31, 2025, and in our quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Contacts
Investor: (281) 302-2286
Media: (713) 296-7276
Website: www.apacorp.com
APA-F
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