secwatch.observer — SEC 8-K summary
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Issuer:     APA Corp (APA)
CIK:        0001841666
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001193125-23-135255
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APA Q1 net income $242M ($0.78/diluted); cuts 2023 capex by $100M to $1.9-2.0B
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- Net income $242M ($0.78/diluted); adjusted earnings $372M ($1.19/diluted).
- Adjusted EBITDAX $1.3B; free cash flow $272M; returned 81% of FCF to shareholders.
- Reported production 394K BOE/d; adjusted production 318K BOE/d; oil beat expectations.
- Cut 2023 upstream capex by $100M to $1.9-2.0B due to weak Permian gas; lean gas drilling reduced.
- Suriname appraisal at Krabdagu progressing in line with expectations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841666/000119312523135255/0001193125-23-135255-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841666/000119312523135255/d292099d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-135255

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer