APA Q1 adj EPS $1.06 beats; cuts capex $150M; sells NM assets for $608M

APA Corp

2025-Q1 EPS reported $0.96

Net income $347M ($0.96 dil EPS); adjusted earnings $385M ($1.06 dil EPS).
Adjusted production 398K BOE/d; U.S. oil guidance maintained 125-127K bbl/d.
2025 development capital cut $150M; expected savings doubled to $130M; run-rate target $225M.
Sold New Mexico Permian assets to Permian Resources for $608M; proceeds for debt reduction; close late Q2.
Sockeye-2 Alaska discovery well; flow test showed better reservoir quality.

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