APA Corp

For the period ended Mar 31, 2025. Filed May 8, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 8, 2025

APA$44.55-0.2%Stored close · as of Nov 9, 2026

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Contents

STATEMENT OF CONSOLIDATED OPERATIONS

	For the Quarter EndedMarch 31,
	2025	2024
(In millions, except share data)
REVENUES AND OTHER:
Oil, natural gas, and natural gas liquids production revenues	$2,039	$1,748
Purchased oil and gas sales	597	203
Total revenues	2,636	1,951
Derivative instrument losses, net	(28)	(4)
Gain (loss) on divestitures, net	(2)	7
Loss on previously sold Gulf of America properties	—	(66)
Other, net	6	15
	2,612	1,903
OPERATING EXPENSES:
Lease operating expenses	407	338
Gathering, processing, and transmission	104	84
Purchased oil and gas costs	474	163
Taxes other than income	74	57
Exploration	30	148
General and administrative	98	93
Transaction, reorganization, and separation	37	27
Depreciation, depletion, and amortization	643	430
Asset retirement obligation accretion	39	40
Financing costs, net	(57)	76
	1,849	1,456
NET INCOME BEFORE INCOME TAXES	763	447
Current income tax provision	306	300
Deferred income tax provision (benefit)	39	(65)
NET INCOME INCLUDING NONCONTROLLING INTERESTS	418	212
Net income attributable to noncontrolling interest	71	80
NET INCOME ATTRIBUTABLE TO COMMON STOCK	$347	$132
NET INCOME PER COMMON SHARE:
Basic	$0.96	$0.44
Diluted	$0.96	$0.44
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	364	302
Diluted	364	302

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