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Company Name: APA Corporation (APA)
APA Corporation, formerly called Apache Corporation, is a publicly-traded energy company engaged in the exploration, development, and production of oil and gas properties. The company operates in the United States, Egypt, and the United Kingdom, with additional targeted investment opportunities in other territories. APA's stock is listed on the Nasdaq Global Select Market under the ticker symbol "APA."
Key Metrics & Financial Information:
1. Market Capitalization: As of March 13, 2023, APA has a market capitalization of around $20.22 billion.
2. Earnings: For Q4 2022, APA reported net income of $1.34 billion, or $3.19 per diluted share, compared to a net loss of $142 million, or $0.35 per diluted share, for Q4 2021. For the full year 2022, net income stood at $3.04 billion, or $7.41 per diluted share, a significant improvement from the net loss of $5.13 billion, or $12.81 per diluted share, in 2021.
3. Revenue: Full-year 2022 revenues were $13.79 billion, a considerable increase from $9.33 billion in 2021.
4. Cash Flow: Cash flow from operating activities for the full year 2022 was $5.92 billion, up from $2.03 billion in 2021.
Growth & Future Outlook:
APA Corporation has shown consistent growth in its financial performance in recent years, particularly since pivoting its focus toward lower-risk assets and divesting higher-risk assets. The company aims to deliver long-term value creation for shareholders by concentrating on its high-quality portfolio, which includes strategic positions in the Permian and Midcontinent regions (U.S.) and the North Sea (U.K.).
In its Q4 2022 earnings report, the company provided the following guidance for 2023:
1. Capital Expenditures: APA expects to invest between $2.9 billion and $3.3 billion in 2023, targeting a balanced approach between production growth and shareholder returns.
2. Production: Full-year 2023 production is anticipated to range between 400 and 415 thousand barrels of oil equivalent per day (MBOE/d), a moderate increase from the 2022 full-year average of 395 MBOE/d.
3. Exploration: APA plans to maintain a disciplined approach to exploration activities and allocate resources toward low-risk opportunities with high returns.
Overall, APA Corporation boasts a solid financial performance in recent periods, and its focus on lower-risk assets and capital discipline positions it well for continued growth and value creation for shareholders. However, as with any investment, it is important to consider potential risks in the broader energy sector and the geopolitical landscape. Potential investors should perform thorough research and assess their individual risk tolerance before investing in APA or any other company.