Press release
APA Corporation Provides Second-Quarter 2023 Supplemental Information and Schedules Results Conference Call for August 3 at 10 a.m. Central Time
HOUSTON, July 10, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain second-quarter 2023
About this update from Apa Corporation
[{"type":"text","content":"HOUSTON, July 10, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain second-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 second-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 second-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 second-quarter 2023. Estimated Average Realized Prices – 2Q23 Oil (bbl)NGL (bbl)Natural Gas (Mcf)United States$74.00$18.00$1.20International$78.00$44.00$3.70 Egypt tax barrels:39 MBoe/dRealized gain on commodity derivatives (before tax):$4 millionDry hole costs (before tax):$23-28 millionNet gain on oil and gas purchases and sales (before tax):$12 millionGeneral and Administrative Expense$85 million Production commentary Oil production in the U.S. for the second quarter is expected to exceed expectations, offset by natural gas production that was impacted by price-related curtailments. Weighted-average shares outstanding The estimated weighted-average basic common shares for the second quarter is 308 million, compared with a weighted average of 311 million shares in the first-quarter 2023. The company repurchased 1.3 million shares at an average price of $33.71 per share, during the period. Second-quarter 2023 earnings call APA will host a conference call to discuss its second-quarter 2023 results at 10 a.m. Central time, Thursday, August 3. 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 ...