HighGravityData

APA Corporation — May 7, 2025 release

Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001673379-25-000013
Open on SEC.gov ↗
Showing in the filing
New Mexico divestiture expected closing
“late in the second quarter”
Period
Q2 FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 15
Expected savings for FY2025
“$130MM”
Annualized run-rate savings
“$225 million”
Total realized savings on controllable spend for FY2025
“$130 million”
Annualized run-rate savings target by end of… for FY2025
“$225 million”
Development capital (reduction) for FY2025
“$150 million”
Exploration capital (reduction) for FY2025
“$25 million”
Permian rig count to hold oil volumes sustai…
“6.5 rigs”
Permian rig count for Q2 FY2025
“6 rigs”
Rig count reduction by end of second quarter for Q2 FY2025
“6 rigs”
U.S. oil production for FY2025
“125,000 to 127,000 barrels per day”
Gas production volumes trend for FY2025
“continue on a strong growing trajectory, leading to higher average realized gas prices through the fourth quarter”
For income from third party oil and gas mark… for FY2025
“$575 million”
New Mexico divestiture package expected prod… for FY2025
“12.4 Mboe/d (46% oil)”
New Mexico Permian assets production for FY2025
“12.4 Mboe/d (46% oil)”
New Mexico divestiture expected closing for Q2 FY2025
“late in the second quarter”
Exhibit 99.1 · the passage around this item
… earlier in the release
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 performance highlights the step-change improvements we are making across many aspects of our business. The strong delivery of our cost initiatives is enhancing our ability to respond decisively to the ongoing volatility in commodity prices while protecting free cash flow. Our focus remains on sustaining the asset base , providing returns to shareholders, strengthening our balance sheet, and creating long-term optionality through exploration,” he concluded. APA CORPORATION ANNOUNCES FIRST-QUARTER 2025 FINANCIAL AND OPERATIONAL RESULTS — PAGE 4 of 6 Conference call APA will host a conference call to discuss its first-quarter 2025 results at 10 a.m. Central time, Thursday, May 8. 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
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.