APA

EX-99.1

2 exhibit9912q26earningsrele.htm

EX-99.1

Document

Exhibit 99.1

NEWS RELEASE

APA Corporation announces second-quarter 2026

financial and operational results

Second-quarter 2026 highlights

•Reported production of approximately 410,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 347,000 BOE per day and exceeded guidance;

•Delivered U.S. oil production of 123,500 barrels of oil per day, 2,500 barrels of oil per day above guidance;

•Generated $1.7 billion of net cash provided by operating activities, $738 million of free cash flow, and $1.8 billion of adjusted EBITDAX; returned $189 million to shareholders through dividends and share repurchases;

•Repaid $752 million of near-term bond debt in the first half of the year; total debt has declined by $2.3 billion since year-end 2024, lowering annualized interest expense by more than $155 million;

•Raised full-year U.S. oil production guidance to 123,000 barrels of oil per day while maintaining U.S. capital at $1.3 billion;

•Increased expected 2026 exit run-rate cost savings to $500 million, up from the prior $450 million target, reflecting continued momentum; and

•Significantly advanced exploration portfolio through the pending Savant acquisition in Alaska and a new strategic partnership with Eni S.p.A in Uruguay.

HOUSTON, Aug. 5, 2026 – APA Corporation (Nasdaq: APA) today announced its financial and operational results for the second quarter of 2026. APA reported net income attributable to common stock of $747 million, or $2.11 per diluted share. When adjusted for certain items that impact the comparability of results, APA’s second-quarter earnings totaled $669 million, or $1.89 per diluted share.

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APA CORPORATION ANNOUNCES SECOND-QUARTER 2026

FINANCIAL AND OPERATIONAL RESULTS — PAGE 2 of 6

Second-quarter summary

Second-quarter reported production was 410,000 BOE per day, and adjusted production was 347,000 BOE per day, both exceeding guidance. U.S. oil production averaged 123,500 barrels per day, 2,500 barrels per day above guidance, reflecting continued drilling and completion efficiency gains and strong base production performance in the Permian Basin.

In Egypt, adjusted production averaged 61,000 BOE per day and was in line with guidance. Gross production averaged 207,000 BOE per day. Gross gas production increased to 539 million cubic feet (MMCF) per day, supported by continued execution of the company’s gas-focused development program. Nearly half of Egypt’s gas production is now benefiting from the revised pricing agreement.

Net cash provided by operating activities was $1.7 billion, and adjusted EBITDAX was $1.8 billion. Upstream capital investment was $546 million, and lease operating expense was $353 million, both below guidance. Free cash flow totaled $738 million, bringing total free cash flow generation to $1.2 billion for the first half of the year.

Balance sheet and shareholder returns

APA repaid $752 million of near-term bond debt during the first half of 2026, including $673 million in the second quarter. The company has reduced total debt by $2.3 billion since year-end 2024, lowering annualized interest expense by more than $155 million. Net debt was $3.3 billion at the end of the second quarter.

APA returned $189 million to shareholders during the second quarter through dividends and share repurchases, including the repurchase of 2.8 million shares at an average price of $35.26 per share; cumulative returns to shareholders during the first half of the year totaled $277 million. Consistent with prior years, the company expects to return at least 60% of free cash flow to shareholders in 2026 while also strengthening the balance sheet.

CEO commentary

“We delivered a very strong second quarter, with excellent operational execution across our core assets,” said John J. Christmann IV, APA’s CEO. “We’re sustaining top-tier operational performance and driving stronger production, lower costs and lower capital intensity. These results reflect the structural improvements we’ve made over the past two years to become a cost leader and drive higher capital efficiency across the Permian and Egypt. APA is in a great position with a strengthening balance sheet, a highly capital-efficient base business, a clear path to organic oil production growth led by GranMorgu and multiple high-quality investment opportunities in exploration.”

APA CORPORATION ANNOUNCES SECOND-QUARTER 2026

FINANCIAL AND OPERATIONAL RESULTS — PAGE 3 of 6

Exploration portfolio update

APA previously announced an agreement to acquire Savant Alaska, LLC for $70 million in upfront consideration prior to customary closing adjustments, plus additional contingent payments tied to future development of APA’s eastern North Slope position. The acquisition secures ownership of key midstream, pipeline and field infrastructure adjacent to APA’s existing acreage and is expected to enhanc

apa8k-20260708 false000184166600018416662026-07-082026-07-08

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 8, 2026

APA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware001-4014486-1430562

(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

2000 W Sam Houston Pkwy S, Suite 200

Houston, Texas 77042-3643

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (713) 296-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Name of each exchange

Title of each class

Trading Symbol(s) on which registered

Common Stock, $0.625 par valueAPANasdaq Global Select Market

Nasdaq Texas, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as set forth by specific reference in such filing.

Item 2.02.    Results of Operations and Financial Condition.

On July 8, 2026, APA Corporation issued a press release announcing supplemental information regarding certain financial and operating results for the fiscal quarter ended June 30, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

Item 9.01.    Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description

99.1 Press Release of APA Corporation dated July 8, 2026.

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

APA CORPORATION

Date:July 8, 2026By:/s/ Robert P. Rayphole

Robert P. Rayphole

Vice President, Chief Accounting Officer, and Controller

(Principal Accounting Officer)

EX-99.1

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EX-99.1

Document

Exhibit 99.1

NEWS RELEASE

APA Corporation Announces First-Quarter 2026

Financial and Operational Results

First-quarter 2026 and recent highlights

•Reported production of 442,000 barrels of oil equivalent (BOE) per day in the first quarter; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 363,000 BOE per day;

•Delivered U.S. oil production of 124,000 barrels per day, driven by continued Permian efficiency gains and improved uptime; raised full-year U.S. oil production outlook to 122,000 barrels per day, Permian capital spending unchanged at $1.3 billion;

•Generated $554 million net cash provided by operating activities, $477 million of free cash flow, and $1.6 billion of adjusted EBITDAX;

•Continued progress on cost reduction initiatives, maintaining trajectory toward $450 million cumulative run-rate savings by year-end 2026; and

•Repaid $634 million in near-term bond maturities through April 2026; combined with prior deleveraging actions, interest expense expected to be more than $60 million lower in 2026

HOUSTON, May 6, 2026 – APA Corporation (Nasdaq: APA) today announced its financial and operational results for the first quarter of 2026. APA reported net income attributable to common stock of $446 million, or $1.26 per share on a fully diluted basis. When adjusted for certain items that impact the comparability of results, APA’s first-quarter earnings totaled $489 million, or $1.38 per diluted share.

First-quarter summary

First-quarter reported production was 442,000 BOE per day and adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 363,000 BOE per day. U.S. oil production averaged 124,000 barrels per day, exceeding guidance set in February from continued efficiency gains and improved uptime in the Permian Basin. In Egypt, adjusted production averaged 71,000 BOE per day, reflecting production sharing contract (PSC) impacts associated with higher oil prices. Underlying gross oil production benefited from strong well performance. Gross gas production averaged 518 million cubic feet (MMCF) per day, in-line with guidance.

Upstream capital investment and lease operating expense (LOE) were below guidance. Adjusted EBITDAX was $1.6 billion, and free cash flow totaled $477 million.

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APA CORPORATION ANNOUNCES FIRST-QUARTER 2026

FINANCIAL AND OPERATIONAL RESULTS — PAGE 2 of 4

Debt management and shareholder return

Through April 2026, APA repaid $634 million in near-term bond maturities. Combined with deleveraging actions in 2025, this is expected to reduce annual interest expense by more than $60 million in 2026. In addition, APA returned $88 million to shareholders through dividends in the first quarter. The company remains committed to its capital returns framework.

CEO commentary

“Our first-quarter results reflect consistent execution across the portfolio,” said John J. Christmann IV, APA’s chief executive officer. “We delivered strong operational performance, exceeded U.S. oil production guidance, and generated significant free cash flow while maintaining capital discipline. At the same time, we continue to structurally lower our cost base, strengthen the balance sheet, and advance our high-quality portfolio of development and exploration opportunities.”

Second-quarter and full-year update

For the second quarter, APA expects U.S. oil production of 121,000 barrels per day. In Egypt, gross gas production is expected to increase to 540 MMCF per day, supported by ongoing success in the gas-focused drilling program. Upstream capital investment is projected to be approximately $575 million.

For the full-year 2026, the company is raising its U.S. oil production outlook to 122,000 barrels per day, reflecting strong uptime and continued efficiency gains in the Permian Basin. The company also reaffirms its prior guidance range of 540 – 550 MMCF per day for Egypt gross gas production. APA’s upstream capital investment and LOE guidance both remain unchanged at approximately $2.1 billion and $1.5 billion, respectively.

Conference call

APA will host a conference call to discuss its first-quarter 2026 results at 10 a.m. Central time, Thursday, May 7. 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 for one year on the “Investors” page of the company’s website.

APA CORPORATION ANNOUNCES FIRST-QUARTER 2026

FINANCIAL AND OPERATIONAL RESULTS — PAGE 3 of 4

About APA

APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

Additional information

Additional information follows, includ