APA

What APA does

APA Corporation is a publicly traded crude oil and natural gas exploration and production company headquartered in Houston, Texas, trading on NASDAQ under the ticker APA. Founded in 1954 as Apache Oil Corporation in Minneapolis, the company restructured under APA Corporation as a Delaware-incorporated holding company in 2021, with Apache Corporation continuing as its primary, wholly-owned operating subsidiary. APA maintains a diversified asset portfolio across four geographies: the U.S. Permian Basin (Midland and Delaware sub-basins, approximately 4,000 wells across 2.6 million gross acres, representing 74% of worldwide proved reserves), Egypt's Western Desert (operated through the Khalda Petroleum JV with Egyptian General Petroleum Company, supported by 3D seismic surveys covering more than 3 million acres), the U.K. North Sea (Forties and Beryl fields, slated for production wind-down by 2030), and offshore Suriname (Block 58 with TotalEnergies, plus Block 53 operated alongside PETRONAS). The company has announced expansion into Alaska's North Slope via the Savant Alaska acquisition.

APA produces crude oil, natural gas, and natural gas liquids using a combination of conventional and unconventional drilling methods including horizontal drilling, hydraulic fracturing, and 3D seismic imaging. Daily production reached approximately 500,000 BOE/day following the March 2024 acquisition of Callon Petroleum in a $4.5 billion all-stock transaction. Proved reserves stood at 1,056 million BOE as of Q4 2025, up 9% year-over-year. The company's most significant medium-term catalyst is the GranMorgu project offshore Suriname, for which APA and TotalEnergies announced a positive final investment decision in October 2024; the $10.5 billion development targets 760 million barrels of recoverable resources and 220,000 bpd capacity via FPSO, with first oil expected in 2028. APA pioneered the use of natural gas-powered hydraulic fracturing and natural gas-powered drilling rigs in 2013, reducing energy costs and emissions relative to diesel-powered peers.

APA generates revenue through direct B2B sales of produced hydrocarbons to global refineries, processors, commodity traders, and industrial customers under a mix of long-term contracts and spot market arrangements, with pricing fully indexed to commodity benchmarks (WTI, Brent, Henry Hub). The company has no published pricing tiers or subscription model given its commodity producer status, and revenue mechanics are therefore transactional and volume-driven. Q1 2026 revenue reached $2.2 billion, and the company generated approximately $500 million in free cash flow during that quarter, reflecting a 17.6% FCF margin per StockStory analysis. Major JV and partner relationships include TotalEnergies (GranMorgu 40%), Staatsolie (GranMorgu 20% acquired in 2025), EGPC and Sinopec (Egypt), PETRONAS (Suriname Block 53), and QatarEnergy/Shell/Chevron (Uruguay offshore exploration). APA employs 1,001–5,000 people globally across offices in Houston (headquarters), Midland (Permian), Aberdeen (North Sea), and Cairo (Egypt).

Name

APA

Legal name

APA Corporation

Website

https://apacorp.com

Company type

Public

Founded year

1954

Operating status

Operating

Headcount range

1–10 employees

Short description

APA Corporation is a Houston-headquartered, NASDAQ-listed oil and gas producer with operations across the U.S. Permian Basin, Egypt, U.K. North Sea, and offshore Suriname. It produces ~500,000 BOE/day for sale to global refineries and traders under long-term and spot contracts.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120), Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI)

akta.pro secondary industries

Field Development Planning & Subsurface Reservoir Engineering (EUALAAAC), Decommissioning, Plug & Abandonment (P&A) & Abandonment Liability Management (EUALAAAK)

Keywords

• Oil and gas exploration
• Upstream production
• Crude oil development
• Natural gas liquids
• Offshore drilling

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Oil and Gas Production Sales: APA Corporation generates the majority of its revenue from the sale of crude oil, natural gas, and natural gas liquids produced from its global portfolio of assets. Production is sold under long-term contracts and spot market arrangements to refineries, processors, traders, and industrial customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

APA Corporation explores for, develops, and produces crude oil, natural gas, and natural gas liquids from a diversified global portfolio of onshore and offshore assets in the U.S. (Permian Basin, Alaska North Slope), Egypt (Western Desert), the U.K. (North Sea), and Suriname (offshore Block 58/GranMorgu). The company sells its hydrocarbon production directly to refineries, processors, commodity traders, and industrial customers under long-term supply agreements and spot market arrangements at prevailing commodity prices.

Product overview

APA Corporation operates as an oil and gas exploration and production company with a diversified portfolio of assets across multiple geographies. The company operates through its subsidiary Apache Corporation and is organized around several core operational segments: Permian Basin operations (the largest U.S. asset base in the Midland and Delaware sub-basins), the GranMorgu offshore Suriname development project (a $10.5 billion joint development with TotalEnergies), Egypt Western Desert operations, U.K. North Sea operations, and Alaska North Slope assets acquired through Savant Alaska. APA Corporation's holding company structure was established in 2021, with Apache Corporation continuing as the primary operating subsidiary for U.S., Egypt, and U.K. assets. The company also maintains sustainability initiatives including the Tree Grant Program.

Differentiator

Problem solved

Functional benefit

Products and services

• Permian Basin Operations Oil and gas exploration, development, and production operations across the Permian Basin's Midland and Delaware sub-basins in West Texas and eastern New Mexico, representing the largest portion of APA's U.S. proved reserves with nearly 4,000 wells across 2.6 million gross acres as of Dec. 31, 2025.
• Egypt Western Desert Operations Decades-long exploration, development, and production operations in Egypt's Western Desert operated through joint venture Khalda Petroleum Company with Egyptian General Petroleum Corporation (EGPC), one of the largest acreage holders in the region with high-impact exploration targets across Cretaceous, Jurassic, and deeper Paleozoic formations and more than 3 million acres of 3D seismic coverage.
• U.K. North Sea Operations Oil and gas production operations in the U.K. North Sea, including the Forties Field and Beryl Field assets, with the company having suspended new drilling in Q2 2023 and planning to cease production by 2030.
• Alaska North Slope Assets Oil exploration and production assets on Alaska's eastern North Slope, including the Badami production facility with 40,000 bpd capacity and the 80,000 bpd Nutaaq Pipeline connecting to the Trans-Alaska Pipeline System. APA's eastern North Slope position will expand to approximately 487,000 gross acres following the Savant Alaska acquisition.
• GranMorgu Project (Suriname Block 58) Offshore oil development in Block 58 offshore Suriname targeting approximately 750 million barrels of recoverable resources, with a 220,000 bpd FPSO and first oil expected in 2028. Developed jointly with TotalEnergies (40%, operator) and Staatsolie (20%), the $10.5 billion project covers about 1.4 million gross acres in water depths up to more than 2,100 meters.

Quantifiable outcome

• Daily production capacity of ~500,000 BOE/day following Callon Petroleum acquisition
• +4 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• TotalEnergiesflagshipStrategic or Co-development Partner · 1 October 2024TotalEnergies and APA Corporation are co-developing the $10.5 billion GranMorgu offshore oil project in Suriname's Block 58. TotalEnergies holds 40% (operator) with APA holding 40% and Staatsolie 20%. The project targets 760 million barrels of crude oil with first oil expected in 2028. The final investment decision (FID) was announced in October 2024.
• Staatsolie Maatschappij SurinameflagshipStrategic or Co-development Partner · 1 October 2024Staatsolie, Suriname's state-owned oil company, acquired a 20% operating interest in the GranMorgu offshore oil development for approximately $2.4 billion in 2025. Staatsolie secured over US$2 billion in financing including a $516 million bond and $1.6 billion syndicated loan from 18 banks to fund its participation. Staatsolie projects government revenues of up to $26 billion once production reaches full capacity.
• PETRONAScoreStrategic or Co-development PartnerPETRONAS holds a 30% working interest in Block 53 offshore Suriname, operated by APA with 45% interest. Exploration and evaluation of the area are ongoing. APA also retains about 13,000 net undeveloped acres around the Baja-1 discovery following a 2023 extension.
• SaipemcoreTechnology or IntegrationSaipem was awarded the offshore SURF (Subsea Umbilicals, Risers and Flowlines) contract for the GranMorgu project. Saipem's multipurpose construction vessel Normand Navigator arrived at Paramaribo port in June 2026 to begin offshore operations. Saipem handles engineering, procurement, construction and installation of subsea umbilicals, risers and flowlines at water depths of 100 to 1,100 meters. Brazil's CADE approved Saipem's proposed merger with Subsea7 without restrictions.
• HalliburtoncoreTechnology or IntegrationHalliburton is establishing an operational base in Suriname's Wanica district at Kuldipsingh Equipment's industrial site to support deepwater operations in Block 58. The facility will provide maintenance, testing, calibration, and certification services for well data collection and drilling fluid monitoring equipment for the GranMorgu project.
• QatarEnergyminorStrategic or Co-development PartnerQatarEnergy acquired participating interests in three offshore exploration blocks in Uruguay from Shell: 18% in block OFF-4 (operated by APA Corporation with Shell at 32%), 30% in block OFF-2 (operated by Shell), and 30% in block OFF-7 (with Chevron at 30%). This marks QatarEnergy's first entry into Uruguay's upstream sector.
• ShellminorStrategic or Co-development PartnerShell is the operator of Uruguay offshore blocks OFF-4 (32% with APA at 18% and QatarEnergy at 18%), OFF-2 (30% with QatarEnergy at 30%), and OFF-7 (30% with Chevron at 30% and QatarEnergy at 30%). Shell divested interests to QatarEnergy as part of the transaction.
• ChevronminorStrategic or Co-development PartnerChevron holds a 30% interest in Uruguay offshore exploration block OFF-7, partnered with Shell (30% operator) and QatarEnergy (30%). APA is not a direct partner on this block.
• Egyptian General Petroleum Company (EGPC)coreStrategic or Co-development PartnerApache operates through Khalda Petroleum Company, a joint venture with EGPC, in Egypt's Western Desert. Apache holds majority interest with EGPC as the state partner. In 2013, Apache sold one-third of its Egyptian interests to Sinopec, which maintains a minority interest in the company's Egyptian operations. In 2021, Apache ratified a modernized production sharing contract (PSC) with the Ministry of Petroleum and EGPC.
• SinopeccoreStrategic or Co-development PartnerSinopec acquired a one-third minority interest in Apache's Egyptian operations in 2013, maintaining that stake as a noncontrolling interest partner in the country's Western Desert assets.
• Lagniappe Alaska and Oil Search (Alaska)minorStrategic or Co-development PartnerAPA has assumed operatorship of an existing joint venture with partners Lagniappe Alaska and Oil Search (Alaska) as part of the Savant Alaska acquisition. The deal, expected to close by year-end 2026 pending regulatory approval, includes the Badami facility and Nutaaq Pipeline on Alaska's eastern North Slope.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Harbour Energy: U.K. North Sea-focused operator formed via Premier Oil/Chrysaor merger with Indonesia and Mexico exposure. Most direct peer to APA's U.K. North Sea wind-down asset base, including the Forties/Beryl legacy operations.

Direct peers

• EQT Corporation: Largest U.S. natural gas producer focused on the Appalachian Basin. Comparable in scale and capital-return orientation; relevant for benchmarking APA's U.S. natural gas and NGL marketing activities.
• Range Resources: Appalachian-focused independent E&P with NGL exposure. Comparable in size and business model to a portion of APA's U.S. unconventional gas and liquids production.
• Hess Corporation: U.S. independent E&P with global portfolio including Guyana (Stabroek), Bakken, and Southeast Asia prior to Chevron acquisition. Closest historical analog to APA's international diversification and offshore growth profile.
• Ovintiv: Multi-basin independent E&P with Permian, Montney, Bakken, and Anadarko assets. Similar in size and operational breadth to APA, and competes for capital in the same U.S. independent E&P peer set.
• EOG Resources: Largest U.S. independent E&P with multi-basin operations including Permian, Eagle Ford, and international assets. Comparable to APA in commodity exposure, premium acreage position, and operator-led drilling model.
• Diamondback Energy: Pure-play Permian Basin (Midland/Delaware) independent E&P with comparable production scale to APA's U.S. operations. Both companies pursue low-cost shale development and capital-return programs in the same core basin.
• Coterra Energy: Independent E&P with both Permian Basin and Marcellus gas exposure, formed via the Cabot Oil & Gas/Cimarex merger. Comparable to APA's mix of liquid-rich U.S. shale and gas-weighted assets.
• Devon Energy: Independent U.S. E&P with significant Delaware/Permian Basin footprint and multi-basin production. Closely comparable to APA in scale, capital allocation philosophy, and reliance on commodity-linked revenues.
• Murphy Oil: Independent E&P with both U.S. (Permian, Eagle Ford) and international (Malaysia, Vietnam, Suriname) exposure. The most comparable peer to APA's Permian + Egypt + Suriname portfolio mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/APA_Corp
• Facebookfacebook.com/ApacheCorporation
• LinkedInlinkedin.com/company/apache-corporation
• Instagraminstagram.com/apachecorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APA