APA Corp. now sees run rate savings of $350M by end of 2025

With the continued momentum from its cost reduction initiatives, APA is once again accelerating and increasing its cost savings targets. The company now expects to achieve run-rate savings of $350 million by the end of 2025, two years sooner than originally anticipated. APA expects to recognize an additional $50 million to $100 million of run-rate savings by the end of 2026, spanning across development capital, LOE, and G&A. The company is also increasing its anticipated realized savings target in 2025 to $300 million, compared to $200 million previously, driven by additional progress made on reducing drilling and completion costs in the Permian and LOE in the North Sea.