APA Corporation — May 7, 2025 release

oil production guidance range of 125,000 to 127,000 barrels per day. In Egypt, given early success in the gas appraisal and development programs, gas-focused drilling has increased to over a third of the activity. The company expects 2025 gas production volumes to continue on a strong growing trajectory, leading to higher average realized gas prices through the fourth quarter. APA CORPORATION ANNOUNCES FIRST-QUARTER 2025 FINANCIAL AND OPERATIONAL RESULTS — PAGE 3 of 6 Hedging update APA entered into certain natural gas basis swap agreements for the second through fourth quarters of 2025 on roughly two thirds of the company’s firm transport capacity from the Permian to the Gulf Coast. Full-year 2025 guidance for income from third party oil and gas marketing activities has been updated to $575 million, inclusive of these basis hedges. New Mexico asset sale Subsequent to the first quarter, APA entered into an agreement to sell its New Mexico Permian assets to Permian Resources Corporation (NYSE: PR) for $608 million, prior to customary closing adjustments. These properties are expected to produce 12.4 Mboe/d (46% oil) for the full year 2025, and the transaction is expected to close late in the second quarter. Proceeds from the sale are expected to be allocated primarily toward debt reduction. "We remain committed to focusing our portfolio on core assets where we are actively investing for the long-term. The New Mexico package represents less than 5% of our Permian oil production and unconventional acreage,” Christmann continued. Closing “Our first quarter