secwatch.observer — SEC 8-K summary
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Issuer:     APA Corp (APA)
CIK:        0001841666
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001193125-24-252752
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APA Q3 2024: adjusted EPS $1.00 beats; GAAP loss $0.60 on impairments; FID on Suriname
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- Adjusted earnings $370M ($1.00/diluted share); GAAP net loss $223M ($0.60/sh) from U.K. and Permian impairments.
- Reported production 467k BOE/d; adjusted (ex-Egypt noncontrolling & tax barrels) 395k BOE/d, ~2% above guidance.
- Announced final investment decision on 220k bbl/d oil project in Suriname (GranMorgu), targeting first oil in 2028.
- Signed $950M non-core Permian Basin divestiture package; reduced net debt by $275M; credit rating upgraded to BBB- by S&P.
- 2025 preliminary capex budget $2.5-2.6B (incl. $200M Suriname); expects adjusted oil production roughly flat in US/Egypt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841666/000119312524252752/0001193125-24-252752-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841666/000119312524252752/d875718d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-252752

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