Press release
APA Corporation Provides First-Quarter 2022 Supplemental Information and Schedules Results Conference Call for May 5 at 10 a.m. Central Time
HOUSTON, April 19, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain first-quarter 2022
About this update from Apa Corporation
[{"type":"text","content":"HOUSTON, April 19, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain first-quarter 2022 financial and operational results. Supplemental quarterly informationTo further assist analysts with their first-quarter earnings models, the company is providing the following estimates: Estimated Average Realized Prices – 1Q22 Oil (bbl)NGL (bbl)Natural Gas (Mcf)United States$96.00$36.50$4.20International$103.00$75.00$5.20 Egypt tax barrels:47-48 MBoe/dRealized loss on commodity derivatives (before tax):$5 millionDry hole costs (before tax):$5-10 million First-quarter 2022 production guidance updateInternational adjusted production is forecast to be 111 Mboe/d, compared to guidance of 115 Mboe/d, with the difference attributable primarily to the production sharing contract impact of higher oil prices in Egypt. Unplanned maintenance downtime on the Forties Echo platform in the North Sea also impacted oil production by approximately 1,000 barrels of oil per day. U.S. production for the period is forecast to be 211 Mboe/d, compared to guidance of 212 Mboe/d. The variance is attributable to weather and third-party facility disruptions to gas and NGL volumes, partially offset by better-than-expected oil volumes. Weighted-average common shares outstandingDuring the first-quarter 2022, the company repurchased approximately 7.2 million shares of APA common stock at an average price of $36.07 per share. The estimated weighted-average basic common shares for the period is 346 million, compared with 361 million for the fourth-quarter 2021. Since Oct. 1, 2021, the company has repurchased 38.4 million shares at an average price of $28.83. During the first-quarter 2022, the company also retired approximately $1.3 billion in outstanding notes and debentures. First-quarter 2022 earnings callAPA Corporation will host its first-quarter 2022 results conference call on Thursday, May 5, at 10 a.m. Central time. The company will issue its earnings release after the market close on Wednesday, May 4. The full text of the release will be available on the company's website at www.apacorp.com. The conference call will be webcast from APA’s website at investor.apacorp.com, and the webcast replay will be archived there as well. The conference call will also be available for playback by telephone for one week...