Press release
APA Corporation Provides First-Quarter 2023 Supplemental Information and Schedules Results Conference Call for May 4 at 10 a.m. Central Time
HOUSTON, April 06, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain first-quarter 2023
About this update from Apa Corporation
[{"type":"text","content":"HOUSTON, April 06, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain first-quarter 2023 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 2023. 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 2023 results. Actual results and the impact of factors identified here may vary depending on the impact of other factors not identified here and are subject to finalization of the financial reporting process for first-quarter 2023. Estimated Average Realized Prices – 1Q23 Oil (bbl)NGL (bbl)Natural Gas (Mcf)United States$75.00$24.00$2.40International$81.00$73.00$4.20 Egypt tax barrels:41 MBoe/dRealized gain on commodity derivatives (before tax):$20 millionDry hole costs (before tax):$30-40 million 1Net gains on oil and gas purchases and sales (before tax):$20 millionGeneral and Administrative Expense$75 million 2 Egypt drilling onlyReflects ~$36 share price used for calculating the share-based compensation mark-to-market impact to G&A Weighted-average shares outstanding The estimated weighted-average basic common shares for the first quarter is 311 million, compared with a weighted average of 321 million shares in the fourth-quarter 2022. First-quarter 2023 earnings call APA will host a conference call to discuss its first-quarter 2023 results at 10 a.m. Central time, Thursday, May 4. 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 in the Dominican Republic. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com. Forward-Lookin...