APA Corporation Provides Fourth-Quarter Supplemental Information
HOUSTON, Jan. 25, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided supplemental information regarding certain fourth-quarter 2021 financial and operational results.
Supplemental quarterly information
To further assist analysts with their fourth-quarter earnings models, the company is providing the following estimates:
|Estimated Average Realized Prices – 4Q21|
|Oil (bbl)||NGL (bbl)||Natural Gas (Mcf)|
|Egypt tax barrels:||24-25 MBoe/d|
|Realized loss on commodity derivatives (before tax):||$38 million|
|Dry hole costs (before tax):||$25-30 million|
Weighted-average common shares outstanding
During the fourth-quarter 2021, the company repurchased approximately 31.8 million shares of APA common stock at an average price of $27.13 per share. The estimated weighted-average basic common shares for the period is 361 million, compared with 379 million for the third quarter 2021.
APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in Apache Corporation’s Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on February 25, 2021, and in our quarterly reports on Form 10-Q for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
|Investor:||(281) 302-2286||Gary Clark|
|Media:||(713) 296-7276||Phil West|