APA Corp. ( (APA) ) has released its Q1 earnings. Here is a breakdown of the information APA Corp. presented to its investors.
APA Corporation is a global energy company engaged in the exploration and production of oil and natural gas, with operations in the United States, Egypt, the United Kingdom, and offshore Suriname. The company is known for its strategic focus on efficiency and cost management in its operations.
In its first-quarter 2025 earnings report, APA Corporation announced a net income of $347 million, or $0.96 per diluted share, with adjusted earnings of $385 million, or $1.06 per diluted share. The company reported production of 469,000 barrels of oil equivalent per day, with significant efficiency gains in the Permian Basin contributing to a reduction in capital expenditure guidance.
Key highlights from the report include a successful discovery at the Sockeye-2 well in Alaska, increased gas price realization in Egypt, and the divestiture of New Mexico assets for $608 million. APA also reported substantial cost savings, with expected 2025 savings increased to $130 million, and a targeted run-rate savings of $225 million by year-end.
Looking ahead, APA Corporation remains focused on maintaining its production guidance, optimizing its asset portfolio, and enhancing shareholder value through strategic investments and cost management. The company aims to sustain its asset base and strengthen its balance sheet amidst volatile market conditions.