APA Corporation provided a supplemental update on its second quarter 2026 operational and financial estimates, highlighting the impact of weak U.S. natural gas prices which led to significant production shut-ins.
Key Highlights
- In a notable development, the company's estimated realized price for U.S. natural gas was negative, at ($2.20) per Mcf, due to weak Waha hub prices.
- In response to poor pricing, APA curtailed approximately 137 million cubic feet per day of U.S. natural gas and 12,300 barrels per day of NGLs during the quarter.
- International realized prices remained strong, with oil at $99.90 per barrel and natural gas at $4.80 per Mcf.
- The company repurchased 2.8 million shares at an average price of $35.25 per share.