01—Abstract
Summary
Summary of the 8-K filed July 8, 2026. Cited figures are marked; the original filing is the authoritative source.
APA Corporation issued a press release on July 8, 2026, furnished as Exhibit 99.1 to this Form 8-K under Item 2.02, providing supplemental information on certain second-quarter 2026 financial and operating results.
The company states the information reflects current management estimates, is not a comprehensive presentation, and remains subject to finalization of its second-quarter financial reporting process. Its earnings conference call is scheduled for Thursday, August 6, 2026 at 10 a.m. Central Time.
The key figures concern realized prices and hedging. Estimated second-quarter average realized prices were $93.20a per barrel for U.S. oil, $25.10 per barrel for U.S. NGLs, and a negative $2.20 per Mcf for U.S. natural gas. International realizations were $99.90 per barrel for oil, $73.40 per barrel for NGLs, and $4.80 per Mcf for natural gas.
Net gain on oil and gas purchases and sales was estimated at $345 millionb before tax, which includes a $109 million realized loss from commodity derivatives. Dry hole costs were estimated at $41 million before tax, and Egypt tax barrels at 36 MBoe/d. Operationally, APA curtailed approximately 137 MMcf/d of U.S. natural gas production and 12,300 barrels per day of U.S. NGL production in the quarter in response to weak or negative Waha hub prices.
On capital allocation and costs, the company repurchased 2.8 million shares at an average price of $35.25c per share and estimates 353 million weighted-average basic shares for the quarter. General and administrative expenses were $65 million, including about $10 million of stock-based compensation that reflects mark-to-market effects of APA's share price during the quarter.
02—Key points
Key Highlights
- Estimated Q2 2026 realized prices: U.S. oil $93.20/bbl, U.S. NGLs $25.10/bbl, U.S. natural gas negative $2.20/Mcf; International oil $99.90/bbl, NGLs $73.40/bbl, natural gas $4.80/Mcf.
- Net gain on oil and gas purchases and sales estimated at $345 million before tax, including a $109 million realized loss from commodity derivatives.
- Curtailed about 137 MMcf/d of U.S. natural gas and 12,300 barrels per day of U.S. NGL production in response to weak or negative Waha hub prices.
- Dry hole costs estimated at $41 million before tax; Egypt tax barrels estimated at 36 MBoe/d.
- Repurchased 2.8 million shares during Q2 at an average price of $35.25 per share; estimated weighted-average basic shares of 353 million.
- General and administrative expenses of $65 million, including about $10 million of stock-based compensation reflecting mark-to-market effects of the share price.
- Second-quarter 2026 results conference call scheduled for Thursday, August 6, 2026 at 10 a.m. Central Time, webcast on the company's investor website.
03—Questions
Frequently Asked Questions
What are the main new financial figures APA disclosed for the second quarter of 2026?
APA estimated a net gain of $345 million before tax on oil and gas purchases and sales, including a $109 million realized loss from commodity derivatives. It also estimated dry hole costs of $41 million before tax and general and administrative expenses of $65 million, including about $10 million of stock-based compensation.
Why did APA curtail natural gas and NGL production?
The company stated it curtailed approximately 137 MMcf/d of U.S. natural gas production and 12,300 barrels per day of U.S. NGL production in the second quarter in response to weak or negative Waha hub prices.
What were APA's estimated realized prices in the second quarter?
In the United States, estimated realized prices were $93.20 per barrel for oil, $25.10 per barrel for NGLs, and negative $2.20 per Mcf for natural gas. For International operations, they were $99.90 per barrel for oil, $73.40 per barrel for NGLs, and $4.80 per Mcf for natural gas.
Did APA repurchase shares, and at what price?
Yes. APA repurchased 2.8 million shares during the second quarter at an average price of $35.25 per share. The estimated weighted-average basic common shares for the quarter were 353 million.
When and how can investors hear more about the second-quarter results?
APA will host a conference call on Thursday, August 6 at 10 a.m. Central Time, webcast on the company's website at www.apacorp.com and investor.apacorp.com. A replay will be available for one year on the Investors page after the call.
04—Continue