- Reported production of 404,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 322,000 BOE per day;
- Generated net cash from operating activities of $891 million, adjusted EBITDAX of $1.7 billion, and free cash flow of $675 million, up 39% from previous quarter;
- Announced discovery at Krabdagu exploration well on Block 58 offshore Suriname and spud Rasper exploration well on Block 53;
- Retired $1.3 billion of bonds and repurchased more than $260 million of APA shares; and
- Received approximately $1 billion in proceeds from previously announced sales of Delaware Basin minerals package and Kinetik common stock.
The company generated $675 million in free cash flow during the quarter, and at recent strip oil and gas prices, expects to generate approximately $2.9 billion of free cash flow for the full year 2022
APA will host a conference call to discuss its first-quarter 2022 results at 10 a.m. Central time, Thursday, May 5. The conference call will be webcast from APA’s website at www.apacorp.com and investor.apacorp.com, and the webcast replay will be archived there as well. The conference call will also be available for playback by telephone for one week beginning at approximately 4 p.m. Central time May 5. The number for the replay is 855-859-2056 or 404-537-3406 for international calls. The conference access code is 7382328. Sign up for email alerts to be reminded of the webcast at investor.apacorp.com/alerts/email-alerts-subscription.