APA Corp. posts Q2 earnings beat, buys Permian Basin assets for $505M [Seeking Alpha]
APA Corporation (APA)
Last apa corporation earnings: 2/26 05:26 pm
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APA Corp. posts Q2 earnings beat, buys Permian Basin assets for $505MAug. 03, 2022 6:26 PM ETAPA Corporation (APA)By:Carl SurranSA News Editorbaona/E+ via Getty ImagesAPA Corp. (NASDAQ:-0.6%Q2 adjusted earnings and revenuesAPA (bought West Texas properties for $505Mduring the quarter, bolstering its position in the Delaware portion of the Permian Basin; the company did not name the seller, but Reuters reported the assets belong to privately owned Titus Oil & Gas.The company said the newly purchased assets abut its existing assets in the basin and should add 12K-14K boe/day to production through the rest of this year.Q2 net income rose to $926M, or $2.71/share, from $316M, or $0.82/share, in the year-earlier quarter.Q2 net cash from operating activities totaled $1.535B, while free cash flow more than doubled to $814M from the prior-year period; net debt at the end of Q2 was ~$5B, down from $6.7B at year-end 2021."If recent strip prices hold, we expect to generate ~$3B of free cash flow
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APA
Earnings
- 2/22/24 - Beat
APA
Sec Filings
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEF
- 4/10/24 - Form 8-K
- APA's page on the SEC website