Commodities
APA Raises Full-Year US Oil Production Guidance Amid Cost Cuts
APA Corporation posted adjusted earnings of $1.89 per share, surpassing the Zacks Consensus Estimate of $1.85 in its second-quarter 2026 earnings call.
The company emphasized lower capital intensity, higher U.S. oil output, and a larger cost-savings target during the call.
APA raised its full-year U.S. oil production guidance to 123,000 barrels per day from 120,000, while keeping U.S. capital at $1.3 billion.
The Permian will run four rigs for the rest of 2026, down from the eight rigs APA once estimated were needed to sustain about 120,000 barrels per day after the Callon integration.