APA Corp Q1 net income $1.9B ($5.43 EPS); adj EPS $1.92; debt reduced by $1.3B

APA Corp

2022-Q1 EPS reported $5.43

Net income $1.9B ($5.43 diluted EPS); adjusted earnings $668M ($1.92 diluted EPS).
Free cash flow $675M (up 39% QoQ); expects ~$2.9B FCF for full-year 2022.
Retired $1.3B of bonds, repurchased $260M+ shares; new $1.8B revolver and £1.5B LC facility.
Production 404k BOE/d; adjusted 322k BOE/d. Capex guidance raised 8% to $1.725B.
Announced Krabdagu discovery in Suriname Block 58; spud Rasper well on Block 53.

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