HighGravityDataAPA Corporation — Feb 26, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001193125-25-038008
Showing in the filing
GranMorgu project first oil
“first oil in 2028”
Period
FY2028
Measure
Company-defined measure
Source
Prose
All guidance in this release · 17
Upstream capital budget for FY2025
“$2.5 to $2.6 billion”
Upstream oil and gas capital investment for FY2025
“$2.5 to $2.6 billion”
GranMorgu development allocation for FY2025
“$200 million”
GranMorgu development capital (included in u… for FY2025
“$200 million”
Run-rate cost savings target for FY2027
“$350 million”
Returning of FCF to shareholders for FY2025
“at least 60%”
Shareholder returns commitment (% of FCF)
“at least 60% of FCF”
Exploration allocation for FY2025
“$100 million”
Exploration capital (included in upstream ca… for FY2025
“$100 million”
Total company adjusted production for FY2025
“around 396,000 BOE per day”
U.S. oil volumes for FY2025
“125,000 to 127,000 barrels of oil per day”
Egypt adjusted production volumes for FY2025
“69,000 BOE per day”
Permian rig count for FY2025
“eight rigs”
Egypt rig count for FY2025
“12 rigs”
Combined development capital budget for Perm… for FY2025
“$2.2-$2.3 billion”
Sustainable annual cost savings target for FY2027
“at least $350 million”
GranMorgu project first oil for FY2028
“first oil in 2028”
Exhibit 99.1 · the passage around this item
… earlier in the release
We are confident that our disciplined approach to capital allocation and rigorous cost management will underpin strong free cash flow growth over the next few years, which will be further bolstered by the GranMorgu project in
Suriname, with first oil in 2028,” Christmann concluded. Year-End 2024 Proved Reserves
Worldwide estimated proved reserves totaled 969 million BOE at year-end 2024, 69% of which were classified as
proved developed. Conference Call APA will host a
conference call to discuss its fourth-quarter and full-year 2024 results at 10 a.m. Central time, Thursday, Feb. 27. 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 and press releases on its website, www.apacorp.com .
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APA CORPORATION ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2024 FINANCIAL AND OPERATIONAL
RESULTS
Additional Information
Additional information follows, including reconciliations of adjusted earnings, adjusted EBITDAX, upstream capital investment, net debt,
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.