APA Corp
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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.
Sep 30, 2024 · Filed Nov 7, 2024
APA$44.55-0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
STATEMENT OF CONSOLIDATED OPERATIONS
| For the Quarter EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (In millions, except share data) | ||||
| REVENUES AND OTHER: | ||||
| Oil, natural gas, and natural gas liquids production revenues(1) | $2,058 | $2,079 | $6,007 | $5,500 |
| Purchased oil and gas sales(1) | 473 | 229 | 1,018 | 612 |
| Total revenues | 2,531 | 2,308 | 7,025 | 6,112 |
| Derivative instrument gains (losses), net | (10) | — | (17) | 104 |
| Gain on divestitures, net | 1 | 1 | 284 | 7 |
| Loss on previously sold Gulf of Mexico properties | — | — | (83) | — |
| Other, net | 18 | — | 26 | 77 |
| 2,540 | 2,309 | 7,235 | 6,300 | |
| OPERATING EXPENSES: | ||||
| Lease operating expenses(1) | 418 | 394 | 1,216 | 1,076 |
| Gathering, processing, and transmission(1) | 123 | 89 | 328 | 245 |
| Purchased oil and gas costs(1) | 292 | 211 | 665 | 558 |
| Taxes other than income | 70 | 61 | 205 | 163 |
| Exploration | 29 | 49 | 248 | 144 |
| General and administrative | 92 | 139 | 270 | 276 |
| Transaction, reorganization, and separation | 14 | 5 | 156 | 11 |
| Depreciation, depletion, and amortization | 595 | 418 | 1,613 | 1,117 |
| Asset retirement obligation accretion | 36 | 29 | 112 | 86 |
| Impairments | 1,111 | — | 1,111 | 46 |
| Financing costs, net | 100 | 81 | 276 | 235 |
| 2,880 | 1,476 | 6,200 | 3,957 | |
| NET INCOME (LOSS) BEFORE INCOME TAXES | (340) | 833 | 1,035 | 2,343 |
| Current income tax provision | 260 | 422 | 845 | 1,022 |
| Deferred income tax benefit | (461) | (144) | (503) | (22) |
| NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS | (139) | 555 | 693 | 1,343 |
| Net income attributable to noncontrolling interest | 84 | 96 | 243 | 261 |
| NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK | $(223) | $459 | $450 | $1,082 |
| NET INCOME (LOSS) PER COMMON SHARE: | ||||
| Basic | $(0.60) | $1.49 | $1.30 | $3.50 |
| Diluted | $(0.60) | $1.49 | $1.29 | $3.50 |
| WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: | ||||
| Basic | 370 | 308 | 348 | 309 |
| Diluted | 370 | 308 | 348 | 309 |
(1)For transactions with Kinetik prior to the Company’s sale of its remaining shares of Kinetik Class A Common Stock and the resignation of the Company’s designated director from the Kinetik board of directors, refer to Note 6—Equity Method Interests.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.