APA Estimates $190 Million Pre-Tax Gain On Asset Trades And 10.5 Million Shares Bought Back In Third Quarter
An 8-K exhibit puts U.S. oil at $87.50 a barrel and international oil at $98.50, with $115 million in overhead.
APA expects a pre-tax net gain of $190 million on oil and gas purchases and sales in the third quarter, according to preliminary estimates it furnished in an 8-K on Wednesday. The Houston-based producer also put U.S. oil at $87.50 a barrel, ahead of its full results.
What the estimates say
The 8-K attaches a press release with supplemental figures for the quarter ended September 30, 2026. APA says the numbers are meant to help investors and analysts build their own estimates, and that actual results "may vary materially" once the financial reporting process is finalized.
Estimated average realized prices:
- Oil: $87.50 a barrel in the United States, $98.50 internationally.
- Natural gas: $1.45 per Mcf in the United States, $5.00 internationally.
- Natural gas liquids: $26.00 a barrel in the United States, $155.00 internationally.
APA said the international liquids price is elevated versus prior quarters mainly because of low volumes and the timing of revenue recognition. It also listed Egypt tax barrels at 36 MBoe/d.
The $190 million gain on purchases and sales is before tax and includes an $8 million realized gain from commodity derivatives. Dry hole costs, also before tax, were estimated at $25 million.
Buybacks, shares and overhead
APA repurchased 10.5 million shares during the quarter at an average of $42.78 each. It estimates weighted-average basic shares outstanding at 348 million.
General and administrative expenses came to roughly $115 million. That includes $56 million of stock-based pay, most of which reflects mark-to-market effects of APA's share price during the quarter.
The company's stock closed Wednesday at $43.81 and was at $43.80 in after-hours trading, down 0.02%, before the filing was accepted at 4:38 p.m. ET (market data).
What to watch
APA will host its third-quarter earnings call at 10 a.m. Central time on Thursday, Nov. 5, with a webcast on its website. A replay will be available for one year on the Investors page.
The Nov. 5 call is when APA's final figures replace these estimates.
Sources
- 8-K Filing — APA Corp (APA) — SEC EDGAR
- Exhibit a3q26supplementalguide-ear.htm — APA Corp 8-K exhibit — SEC EDGAR
