APA Corp

Company facts

Industry

Crude Petroleum & Natural Gas

Headquarters

Houston, Texas

Most recent report

10-Q, filed Aug 6, 2026

Incorporated

Delaware

Filings on record

799 filings

On EDGAR

CIK 1841666

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 4 positive, 6 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Core financial data: income up, debt down, but contingent liability and EPA risk.
  Notable

  • Share repurchases resumed: 2.8M shares at $35.26 in Q2 2026 after none in Q1.
  Negative

  • EPA proposed penalty for Clean Air Act violations received May 2026; potential fine >$300k.
  • Contingent liability for Gulf decommissioning remains large at $847M as of June 2026.

• Management's Discussion (Item 2)

  Full MD&A with income, production, cost savings, Alaska acquisition, and $847M decommissioning risk.
  Positive

  • Net income increased 24% to $747M in Q2 2026 from $603M in Q2 2025, driven by higher oil prices.
  Notable

  • Cost savings target raised to $500M by end of 2026, up from $350M previously.
  • Agreed to acquire Savant Alaska for ~$70M plus contingent payments, adding ~104k gross acres and 1,500 b/d.

• Market Risk (Item 3)

  Extreme commodity price swings in Q2 2026: gas down 74%, oil up 50%; derivative liability collapsed 95%, debt down $700M.
  Positive

  • Oil realized price surged 50% to $98.24/barrel in Q2 2026, boosting revenue from oil production.
  • NGL realized price increased 24% to $25.41/barrel in Q2 2026, providing additional revenue support.
  • Net debt (notes & debentures) fell to $3.7B from $4.4B in the prior quarter, reducing leverage.
  Notable

  • Derivative liability for natural gas dropped from $122M to $6M as of June 30, 2026, a 95% decline.
  • Cash increased to $444M from $293M, with 83% in money market funds.
  • Foreign exchange hedging notional reduced to £72M from £108M, lowering currency protection.
  Negative

  • Natural gas realized price collapsed 74% to $0.60/Mcf in Q2 2026, a severe drop that will pressure cash flow from gas.

What changed: Jun 2026 vs. Mar 2026

About 9% of APA's Jun 2026 10-Q is new information. 31 paragraphs were added, 133 changed, and 20 removed. Below are the most important lines SECSift identified.

• Item 2 66
• Item 1 44
• Item 3 7
• Item 6 3
• Item 4 3
• Item 1A 1
• Item 5 1