APA Corporation 10-Q filed May 7, 2026

Modified · Overview

Uncertainties in the global supply chain and financial markets impact oil supply and demand and contribute to commodity price volatility. These uncertainties include the impacts of ongoing international and duration of armed conflicts involving Iran, Russia, Ukraine, Israel, Lebanon, and Gaza, inflation, current and potential tariffs or other trade barriers, global trade policies, and disputes, and actions taken by foreign oil and gas producing nations, including OPEC+. Despite these uncertainties, the Company remains committed tois focused on its longer-term objectives: (1) to invest for long-term returns in pursuit of moderateremain committed to providing affordable, reliable, and responsibly produced energy; (2) to deliver top operational performance across safety, sustainable production growthenvironmental responsibility, execution, and risk management measures; (23) to strengthen maintain financial discipline by managing costs, protecting the balance sheet to underpin the generation of cash flow in excess of its upstream exploration, appraisal, and development capital program that can be directed to debt reduction, share repurchases, and other return of capital to its shareholders; and (34) to responsibly manage its cost structure regardless of the oil price environmentbuild and grow a diverse and balanced high-quality portfolio with scale through acquisitions, exploration, and organic opportunities.