- APA press release (NASDAQ:APA): Q2 Non-GAAP EPS of $2.37 beats by $0.02.
- Revenue of $3.05B (+73.3% Y/Y) beats by $420M.
- Christmann said, “If recent strip prices hold, we expect to generate approximately $3 billion of free cash flow in 2022, and by yearend, at least $1.8 billion of this capital will be returned to shareholders through dividends and share buybacks. Through July, we have returned just under 50% of this amount.” Looking to the back half of the year, our production will increase as the drilling program in Egypt reaches 15 rigs and efficiency levels improve, the rate of well completions increases in the Permian Basin, summer maintenance turnarounds conclude, and the Garten-3 well commences production in the North Sea.”