APA Surpasses Production Guidance, Raises US Oil Forecast

APA Corporation has reported a strong second-quarter performance, exceeding its production guidance and raising its full-year U.S. oil forecast.

The company generated $1.7 billion in operating cash flow, $1.8 billion in adjusted EBITDAX, and $738 million in free cash flow during the quarter.

U.S. oil production reached 123,500 barrels per day, surpassing guidance by 2,500 bpd due to drilling and completion efficiencies in the Permian Basin.

The company has raised its full-year U.S. oil production forecast to 123,000 bpd while maintaining its domestic capital budget at $1.3 billion.