APA Corp. (APA) Cuts Rigs In Half And Still Raises Its Oil Forecast
APA Corp. reported Q2 adjusted production of 347,000 barrels of oil equivalent per day, exceeding guidance. It raised full-year US oil guidance to 123,000 barrels per day and increased its cost-savings target to $500 million. Free cash flow reached $738 million, with $189 million returned to shareholders. The company reduced net debt to $3.3 billion and expects to hit its $3 billion target in 2027. APA also announced acquisitions and exploration plans in Alaska, Uruguay, and Suriname, while noti



