APA Corporation — Third Quarter 2026 Earnings Summary

Financial Performance

• Estimated average realized prices for Q3 2026: $87.50 per barrel for U.S. oil, $98.50 per barrel for international oil, $26.00 per barrel for U.S. NGLs, $155.00 per barrel for international NGLs (driven by low volumes and timing of revenue recognition), $1.45 per Mcf for U.S. natural gas, and $5.00 per Mcf for international natural gas.
• Estimated net gain on oil and gas purchases and sales (before tax) of $190 million, which includes an $8 million realized gain from commodity derivatives.
• General and administrative expenses totaled approximately $115 million, including $56 million in stock-based compensation primarily reflecting mark-to-market impacts of the share price.
• Estimated weighted-average basic common shares outstanding for the quarter were 348 million.
• APA repurchased 10.5 million shares at an average price of $42.78 per share during the quarter.
• Egypt tax barrels estimated at 36,000 barrels of oil equivalent per day (MBoe/d).
• Dry hole costs (before tax) estimated at $25 million.

Guidance and Future Outlook

• The document provides supplemental estimates for Q3 2026 results to assist investors in formulating their own estimates; it is not a comprehensive presentation of all factors affecting results.
• Actual results may vary materially from estimates due to the finalization of the financial reporting process, final determination of realized prices, final accruals, cost and tax estimates, and subsequent events.
• APA will host a conference call on November 5 at 10 a.m. Central time to discuss Q3 2026 results.

Business Segments and Product Lines

• APA operates consolidated subsidiaries exploring and producing oil and natural gas in the United States, Egypt, and the United Kingdom.
• The company is exploring for oil and natural gas offshore Suriname and elsewhere.

Market and Competitive Landscape

• No specific market share, competitor data, or broader market trend analysis is provided in this release.

Risks and Challenges

• Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including completion of quarter-end closing, finalization of financial reporting procedures, and determination of realized prices.
• Risks are detailed in APA's Form 10-K for the year ended December 31, 2025, and quarterly reports on Form 10-Q filed with the SEC.
• APA undertakes no obligation to update forward-looking statements except as required by law.

Management Commentary and Tone

• Management provided supplemental information to assist investors, analysts, and others in formulating estimates regarding current factors believed to affect Q3 2026 results.
• The release emphasizes that actual results and impacts may vary materially from the provided estimates.

Other Key Points

• The press release serves as a supplemental guide rather than a final earnings report, explicitly stating it is not a comprehensive presentation of all factors affecting Q3 2026 results.
• A replay of the upcoming conference call will be available for one year on the "Investors" page of the company's website following the event.
• Contact information for investors and media is provided for further inquiries.