APA Corporation Provides Second-Quarter 2022 Supplemental Information and Schedules Results Conference Call for August 4 at 10 a.m. Central Time

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[{"type":"text","content":"HOUSTON, July 18, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain second-quarter 2022 financial and operational results. Supplemental quarterly informationTo further assist analysts with their second-quarter earnings models, the company is providing the following estimates: Estimated Average Realized Prices – 2Q22 Oil (bbl)NGL (bbl)Natural Gas (Mcf)United States$111.00$40.00$6.75International$115.00$72.00$4.30 Egypt tax barrels:48-49 MBoe/dRealized loss on derivatives (before tax):$6 millionDry hole costs (before tax):$37-40 million Second-quarter 2022 production guidance updateInternational adjusted production is forecast to be 105 Mboe/d, compared to guidance of 107 Mboe/d, with the primary variances attributable to the impact of strong Brent oil prices on Egypt PSC volumes and lower gas production in Egypt. This was partially offset by higher production in the North Sea due to a shift in the timing of planned maintenance at the Beryl Field. U.S. production for the period is forecast to be 200 Mboe/d, compared to guidance of 206 Mboe/d. Approximately 4 Mboe/d of the variance is attributable to non-recurring prior period adjustments, primarily related to the performance of non-operated wells. The remainder is associated with mixed production results from certain Austin Chalk wells placed on production during the quarter. Weighted-average common shares outstanding, share buybacks, and debt paid down During the second-quarter 2022, the company repurchased 7.0 million shares of APA common stock at an average price of $41.60 per share. The estimated weighted-average basic common shares for the period is 341 million, compared with 346 million for the first-quarter 2022. From July 1 through July 15, the company repurchased an additional 6.9 million shares of APA common stock, at an average price of $33.87 per share. Since Oct. 1, 2021, the company has repurchased 52.3 million shares at an average price of $31.19. During the second-quarter 2022, the company also paid down $605 million on its revolving credit facility, ending the period with $275 million on the revolver. Second-quarter 2022 earnings call APA will host a conference call to discuss its second-quarter 2022 results at 10 a.m. Central time, Thursday, August 4. The conference call will be webcast from APA’s web...

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