APA Corp

Listed Company

APACIK 0001841666NasdaqLarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$1.43B

Total Assets

$17.76B

Equity

$6.09B

Shares Out

353.25M

Op. Cash Flow

$4.54B

Business

APA Corp is an independent energy company that explores for, develops, and produces crude oil, natural gas, and natural gas liquids through its consolidated subsidiaries. The company offers upstream exploration, development, appraisal and production services, and markets and sells hydrocarbon production under a mix of index‑based, term, entitlement and spot contracts. Its operations are organized by geographic operating areas, primarily the United States, Egypt, the U.K. North Sea, and international new‑ventures such as Suriname and Uruguay. APA distributes production through domestic and international pipelines, export terminals, and contractual sales to utilities, refiners, integrated majors, marketers and national oil companies.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Derivative instrument gains (losses), net	−53	−10	99	−114	94
Gain on divestitures, net	301	289	8	1,180	67
Gains (losses) on previously sold Gulf of America properties	60	−273	−212	—	—
Other, net	−8	−6	18	148	228
Total revenues and other	9,220	9,737	8,192	12,132	7,928
Lease operating expenses	1,504	1,690	1,436	1,444	1,241
Taxes other than income	229	270	207	268	204
Exploration	131	313	195	305	155
General and administrative	350	372	351	483	376
Transaction, reorganization, and separation	102	168	15	26	22
Depreciation, depletion, and amortization	2,304	2,266	1,540	1,233	1,360
Asset retirement obligation accretion	158	148	116	117	113
Impairments	44	1,129	61	0	208
Financing costs, net	113	367	312	379	514
Total operating expenses	6,429	8,202	5,309	6,398	6,037
NET INCOME BEFORE INCOME TAXES	2,791	1,535	2,883	5,734	1,891
Current income tax provision	739	1,153	1,338	1,507	652
Deferred income tax provision (benefit)	360	−736	−1,662	145	−74
NET INCOME INCLUDING NONCONTROLLING INTERESTS	1,692	1,118	3,207	4,082	1,313
Net income attributable to noncontrolling interest	258	314	352	—	—
NET INCOME ATTRIBUTABLE TO COMMON STOCK	1,434	804	2,855	—	—
Basic (in USD per share)	3.99	2.28	9.26	11.05	2.6
Diluted (in USD per share)	3.99	2.27	9.25	11.02	2.59
Basic (in shares)	359	353	308	332	374
Diluted (in shares)	359	353	309	333	375

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	516	625	87	245	302
Receivables, net of allowance of $140 and $123	1,062	1,959	1,610	1,466	—
Other current assets (Note 5)	543	820	765	997	684
Total current assets	2,121	3,404	2,462	2,708	2,380
Oil and gas properties, on the basis of successful efforts accounting:	45,507	44,698	44,860	42,356	40,749
Gathering, processing, and transmission facilities	445	433	448	449	673
Other	536	562	634	613	1,126
Less: Accumulated depreciation, depletion, and amortization	−33,740	−33,047	−35,904	−34,406	−34,213
Property and equipment, net	12,748	12,646	10,038	9,012	8,335
Decommissioning security for sold Gulf of America properties (Note 10)	21	21	21	217	640
Deferred tax asset (Note 9)	2,328	2,703	1,758	39	—
Deferred charges and other	543	616	528	547	583
ASSETS	17,761	19,390	15,244	13,147	13,303
Accounts payable	871	1,224	658	771	731
Current debt	213	53	2	2	215
Other current liabilities (Note 6)	1,487	1,678	1,744	2,143	1,171
Total current liabilities	2,571	2,955	2,404	2,916	2,117
LONG-TERM DEBT (Note 8)	4,280	5,991	5,186	5,451	7,295
Deferred tax liability (Note 9)	0	14	371	314	148
Asset retirement obligation (Note 7)	2,699	2,591	2,362	1,940	2,089
Decommissioning contingency for sold Gulf of America properties (Note 10)	782	929	764	738	1,086
Other	426	548	466	443	573
Total deferred credits and other noncurrent liabilities	3,907	4,082	3,963	3,435	3,896
Common stock, $0.625 par, 860,000,000 shares authorized, 492,038,127 and 491,579,646 shares issued, respectively	308	307	263	262	262
Paid-in capital	12,816	13,153	11,126	11,420	11,645
Accumulated deficit	−721	−2,155	−2,959	−5,814	−9,488
Treasury stock, at cost, 139,073,481 and 126,182,497 shares, respectively	−6,320	−6,037	−5,790	−5,459	−4,036
Accumulated other comprehensive income	10	12	15	14	22
APA SHAREHOLDERS EQUITY	6,093	5,280	2,655	423	−1,595
TOTAL EQUITY	7,003	6,362	3,691	1,345	−717
LIABILITIES, NONCONTROLLING INTEREST, AND EQUITY	17,761	19,390	15,244	13,147	13,303

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Unrealized derivative instrument (gains) losses, net	77	8	−51	67	−69
Gain on divestitures, net	−301	−289	−8	−1,180	−67
Exploratory dry hole expense and unproved leasehold impairments	69	236	114	207	97
Gain from extinguishment of debt	−147	0	−9	67	104
(Gains) losses on previously sold Gulf of America properties	−60	273	212	—	—
Other	57	2	26	−73	28
Receivables	850	−104	−157	−93	−386
Inventories	7	−11	13	−1	−9
Drilling advances and other current assets	223	−56	269	—	—
Deferred charges and other long-term assets	36	11	270	—	—
Accounts payable	−365	81	−84	−4	245
Accrued expenses	−199	−221	−400	303	127
Deferred credits and noncurrent liabilities	−260	−235	−328	−138	31
NET CASH PROVIDED BY OPERATING ACTIVITIES	4,545	3,620	3,129	4,943	3,496
Additions to oil and gas property	−2,740	−2,851	−2,313	−1,770	−1,101
Acquisition of Delaware Basin properties	0	0	−24	−591	0
Leasehold and property acquisitions	−26	−60	−20	−37	−9
Proceeds from asset divestitures	611	1,609	29	778	256
Proceeds from sale of Kinetik shares	0	428	228	224	0
Other, net	2	−50	−38	28	21
NET CASH USED IN INVESTING ACTIVITIES	−2,153	−924	−2,138	−1,511	−833
Payments on commercial paper and revolving credit facilities, net	−333	−40	−194	—	—
Proceeds from term loan facility	0	1,500	0	0	—
Payments on term loan facility	−900	−600	0	0	—
Payment on Callon Credit Agreement	0	−472	0	0	—
Fixed rate debt borrowings	846	0	0	—	—
Payments on fixed-rate debt	−1,016	−1,641	−65	−1,493	−1,795
Distributions to noncontrolling interest	−430	−268	−238	−362	−279
Dividends paid to APA common stockholders	−360	−353	−308	−207	−52
Treasury stock activity, net	−280	−246	−329	−1,423	−847
Other, net	−28	−38	−15	−28	−42
NET CASH USED IN FINANCING ACTIVITIES	−2,501	−2,158	−1,149	−3,489	−2,623
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	−109	538	−158	−57	40
Interest paid, net of capitalized interest	281	372	329	322	442
Income taxes paid, net of refunds	999	1,097	1,271	1,431	633

Filings

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