secwatch.observer — SEC 8-K summary
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Issuer:     APA Corp (APA)
CIK:        0001841666
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001193125-24-128563
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APA Corp Q1 net income $132M ($0.44/diluted); adjusted EPS $0.78; raises Callon cost synergies to $225M
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- Net income $132M ($0.44 diluted EPS); adjusted earnings $237M ($0.78 diluted EPS) on production of 389K BOE/d.
- Completed Callon Petroleum acquisition; increased expected annual cost synergies by 50% to $225M.
- Permian strength drove U.S. oil volumes above guidance for fifth consecutive quarter; Permian to represent >70% of 2024 capex.
- Alaska King Street #1 well discovered high-quality oil; two other wells did not reach targets due to delays.
- Generated $368M net cash from operations, $1.24B adjusted EBITDAX; returned $176M to shareholders via dividends and buybacks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841666/000119312524128563/0001193125-24-128563-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841666/000119312524128563/d812659d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-128563

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