APA Corp
For the period ended Mar 31, 2026. Filed May 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
APA$44.55-0.2%Stored close · as of Nov 9, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-06.
0001841666-25-000031
Item 1A. RISK FACTORSUNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-07.
0001841666-26-000034
Item 1A. RISK FACTORSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 9 previous paragraphs and 7 current paragraphs.
2 unchanged; 1 reworded; 4 added; 6 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
Escalation of the current armed conflict involving Iran could further increase commodity price volatility, disrupt global energy markets and infrastructure, and adversely affect the Company’s operations, financial condition, and cash flows.
Current report
The ongoing conflict involving Iran has caused significant uncertainty in global energy and financial markets and disrupted supply chains. Escalation of the conflict or a broader regional conflict could further disrupt the production, transportation, and export of crude oil, natural gas (including liquefied natural gas), and NGLs, including through additional damage to or targeting of energy infrastructure, pipelines, refineries, export terminals, and related facilities. In addition, while not currently involving the Company’s assets or operations, instability affecting key transit routes, including the Strait of Hormuz, has resulted in shipping delays, rerouting, increased transportation and insurance costs, and reduced market access for the oil and gas industry in the Middle East, further contributing to commodity price volatility. The current elevated commodity price environment may increase input costs and contribute to broader inflationary pressures, including from the Company’s suppliers and contractors, and may reduce demand for the products the Company produces. Conversely, any resolution or de-escalation of the conflict could result in a rapid decline in commodity prices, which may adversely impact the Company’s revenues and operating results.
Current report
The conflict also heightens the risk of indirect impacts on the Company’s business. State or state-sponsored cyber actors may target energy companies, critical infrastructure, financial institutions, or service providers, which could result in operational disruptions, loss of data, or other adverse effects. Regional instability may also affect countries in which the Company operates, including Egypt, by impairing government finances, limiting access to foreign currency, or delaying payments, which could adversely affect the Company’s ability to receive timely payment for production or repatriate funds. In addition, supply disruptions may increase reliance on domestically produced oil and natural gas in countries in which the Company operates, including Egypt, which could reduce volumes available for export and negatively impact realized prices. The occurrence of any of these events, individually or in combination, could materially adversely affect the Company’s business, financial condition, liquidity, and results of operations.
Removed paragraphs (6)
Previous report
RISKS RELATED TO GOVERNMENTAL REGULATION AND POLITICAL RISKS
Previous report
Changes to laws, regulations, guidance, and industry standards, or higher than anticipated costs, for asset retirement and decommissioning obligations could adversely affect the Company’s results of operations and cash flows.
Previous report
The Company is subject to extensive requirements governing the plugging, abandonment, and decommissioning of wells, facilities, sites, and related infrastructure. The cost and timing of these activities are uncertain and may be materially affected by changes in laws, regulations, guidance, or industry standards. Governments in key jurisdictions, including the United States and the United Kingdom, have increased focus on decommissioning requirements, financial assurance, and environmental remediation. New or revised rules or guidance could expand the scope of required activities, alter timelines, or increase financial security obligations, resulting in higher costs and greater cash flow demands.
Previous report
Additionally, inflation, supply constraints, and limited contractor and vessel availability have also raised decommissioning costs. If decommissioning spending materially exceeds current estimates or the Company’s joint venture partners or current owners of the Company’s previous assets fail to meet their decommissioning obligations, the Company’s cash flows, capital resources, and liquidity could be adversely affected.
Previous report
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Previous report
The following table presents information on shares of common stock repurchased by the Company during the quarter ended September 30, 2025:
Reworded paragraphs (1)
Previous wording
(1) During the third quarter of 2022, the Company's Board of Directors authorized the purchase of 40 million shares of the Company's common stock. Shares may be purchased either in the open market or through privately negotiated transactions. The Company is not obligated to acquire any specific number of shares.
Current wording
During the third quarter of 2022, the Company's Board of Directors authorized the purchase of 40 million shares of the Company’s common stock. Shares may be purchased either in the open market or through privately negotiated transactions. The Company is not obligated to acquire any specific number of shares and did not purchase any shares during the quarter ended March 31, 2026. The maximum number of shares that may yet be purchased under the current authorization is 21.9 million.