01—Abstract
Summary
Summary of the 8-K filed October 7, 2026. Cited figures are marked; the original filing is the authoritative source.
APA Corporation (Nasdaq: APA) issued a press release on October 7, 2026, furnished as Exhibit 99.1 to this Form 8-K, providing supplemental information on certain financial and operating results for the quarter ended September 30, 2026.
The release is explicitly described as estimates management believes will affect third-quarter 2026 results, not a comprehensive presentation, and it notes that actual results may vary materially pending completion of the quarter-end financial reporting process. The release lists estimated third-quarter 2026 average realized prices of $87.50a per barrel of oil and $1.45 per Mcf of natural gas in the United States, and $98.50 per barrel of oil and $5.00 per Mcf of natural gas internationally, with an international NGL price of $155.00 per barrel flagged as reflecting low volumes and the timing of revenue recognition. Other estimates include 36 MBoe/d of Egypt tax barrels, $25 million of dry hole costs before tax, and a $190 million net gain on oil and gas purchases and sales before tax, which includes an $8 million realized gain from commodity derivatives.
On share count and expenses, the company estimates weighted-average basic common shares of 348 million for the quarter, and repurchased 10.5 million shares at an average price of $42.78b during the period. General and administrative expenses are estimated at approximately $115 million, including $56 million of stock-based compensation, which management attributes mostly to mark-to-market effects of APA's share price.
The company will host its third-quarter 2026 results conference call on Thursday, November 5 at 10 a.m. Central time.
02—Key points
Key Highlights
- Estimated Q3 2026 average realized oil price of $87.50/bbl in the United States and $98.50/bbl internationally.
- International NGL realized price estimated at $155.00/bbl, which the company attributes to low volumes and the timing of revenue recognition.
- Estimated net gain on oil and gas purchases and sales of $190 million before tax, including an $8 million realized gain from commodity derivatives.
- Estimated dry hole costs of $25 million before tax and 36 MBoe/d of Egypt tax barrels.
- Repurchased 10.5 million shares in Q3 2026 at an average price of $42.78; estimated weighted-average basic shares of 348 million.
- Estimated general and administrative expenses of approximately $115 million, including $56 million of stock-based compensation tied largely to share price mark-to-market impacts.
- Third-quarter 2026 results conference call scheduled for Thursday, November 5 at 10 a.m. Central time.
03—Questions
Frequently Asked Questions
Is this filing a full set of third-quarter 2026 results?
No. The release states it provides supplemental information on current estimates management believes will affect Q3 2026 results and is not intended to be a comprehensive presentation. Actual results may vary materially pending completion of the financial reporting process.
What drove the high international NGL price?
The company attributes the $155.00 per barrel international NGL price, which is higher than prior quarters, primarily to low volumes and the timing of revenue recognition.
How much did APA spend on share repurchases and how does that affect share count?
APA repurchased 10.5 million shares at an average price of $42.78 per share during the third quarter. The estimated weighted-average basic common shares for the quarter are 348 million.
Why are stock-based compensation costs significant this quarter?
Of the approximately $115 million in estimated general and administrative expenses, $56 million is stock-based compensation, which management says mostly reflects mark-to-market impacts of APA's share price during the quarter.
When will APA discuss these results in more detail?
APA will host a conference call on Thursday, November 5 at 10 a.m. Central time, webcast from its website at www.apacorp.com and investor.apacorp.com, with a replay available for one year afterward.
04—Continue