APA Earnings Preview: Can Exploration Offset Weak Gas Prices?
American oil and gas producer APA Corporation is set to report its second-quarter earnings on August 5, 2026.
The company faces a mixed backdrop, with analysts expecting a 44% sequential improvement in earnings per share from the previous quarter's $1.38, but also curtailed U.S. natural gas production by 137 million cubic feet per day due to weak Waha hub pricing.
AAPA has pre-released expectations of a $345 million gain on oil and gas transactions, which should provide a significant boost to results, but this may not be enough to offset the impact of low natural gas prices in the Permian basin operations.
The company's exploration opportunities, particularly in Suriname and Alaska, are seen as key growth catalysts, with the GranMorgu project targeting over 700 million barrels of recoverable resources and expected to begin production in early 2028.