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 development allocation
“$200 million”
Period
FY2025
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
•
Signed a new gas price agreement in Egypt, bringing gas-focused
investment to economic parity with oil. 2025 Outlook
•
Planning upstream capital budget of $2.5 to $2.6 billion; includes
$200 million for GranMorgu development and $100 million for exploration;
•
Total adjusted production expected to be 396,000 barrels of oil equivalent (BOE) per day; 3% higher than
2024;
•
Implementing cost-saving initiatives across overhead, lease operating expense (LOE) and capital, targeting
$350 million in run-rate savings by year-end 2027; and
•
Committed to returning at least 60% of FCF to shareholders.
HOUSTON, Feb. 26, 2025 – APA Corporation (Nasdaq: APA) today announced its financial and operational results for the fourth quarter and full-year 2024.
In the fourth quarter, APA reported net income attributable to common stock of $354 million or $0.96 per diluted common share. When adjusting for
items that impact the comparability of results, APA’s fourth-quarter earnings were $290 million, or $0.79 per diluted share. Net cash provided by operating activities was $1.0 billion, and adjusted EBITDAX was $1.6 billion.
Fourth-quarter reported production was 488,000 BOE per day. Adjusted production, excluding Egypt noncontrolling interest and tax barrels, was 418,000 BOE
per day. For the full-year 2024, APA reported net income attri
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.