HighGravityDataAPA Corporation — Nov 6, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001193125-24-252752
Showing in the filing
Capital allocated to other exploration, primarily in Alaska
“$100 million”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 11
Upstream capital investment for Q4 FY2024
“approximately $645 million”
Upstream capital investment for Q4 FY2024
“approximately $645 million”
Incremental capital for Suriname, Alaska and… for Q4 FY2024
“$80 million”
Capital budget for FY2025
“$2.5 to $2.6 billion”
Capital allocated to Suriname development ac… for FY2025
“$200 million”
Suriname development activity allocation for FY2025
“$200 million”
Capital allocated to other exploration, prim… for FY2025
“$100 million”
Exploration allocation, primarily in Alaska for FY2025
“$100 million”
Permian Basin rig program for FY2025
“eight-rig”
Egypt rig program for FY2025
“12-rig”
Adjusted BOE production growth for FY2025
“mid-single digit adjusted BOE growth”
Exhibit 99.1 · the passage around this item
… earlier in the release
2025 Preliminary Capital Budget and
Production Outlook In 2025, as a result of a softer oil price outlook, APA plans to reduce capital to $2.5 to $2.6 billion, of which,
$200 million is allocated to Suriname development activity and $100 million to other exploration, primarily in Alaska. At this investment level, the company expects to run an eight-rig program in the
Permian Basin and a 12-rig program in Egypt, which includes one rig dedicated to natural gas following the signing of a new gas pricing agreement. The company expects this program will roughly sustain adjusted
oil production in the U.S. and Egypt, while delivering mid-single digit adjusted BOE growth.
APA CORPORATION ANNOUNCES THIRD-QUARTER 2024
FINANCIAL AND OPERATIONAL RESULTS — PAGE
3
of 5
Conference Call
APA will host a conference call to discuss its third-quarter 2024 results at 10 a.m. Central time, Thursday, Nov. 7. The conference call will be webcast from
APA’s website at www.apacorp.com and investor.apacorp.com. Following the conference call, a replay will be available for one year on the “Investors” page of the company’s website.
About APA APA Corporation owns consolidated subsidiaries
that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information a
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.