APA CORPORATION 01 Introduction
CHARTING A STEADY COURSE
As we navigated 2021, we charted a steady course for the future success of APA Corporation, hitting numerous milestones and solidifying our position as a sustainable exploration and production leader.
On the tailwinds of rising commodity prices, we exceeded our free cash flow plan, allowing us to strengthen the company financially and enable shareholder returns via both an increased dividend and share repurchase program. We streamlined our portfolio and modernized our Production Sharing Contract (PSC) with the Egyptian government, aiming for increased production and a renewed commitment to sustainability. We made promising discoveries in Suriname, drawing us closer toward a final investment decision (FID). Our commitment to operate responsibly led us to achieve our environmental, safety and governance (ESG) goal of eliminating routine flaring across U.S. onshore operations, in addition to accomplishing related emissions and water usage goals. Our strong performance in 2021, helped lay the groundwork for continued operational efficiencies, improved financial performance and ESG leadership.
APA Corporation | 2021 Summary Annual Report
02
APA Global
Operations Map
APA Corporation's subsidiaries have operations in the United States, Egypt's Western Desert and the United Kingdom's North Sea and exploration opportunities offshore Suriname.
United Kingdom
United States | Egypt | |
Suriname | ||
2021 Operational Data by Region
Proved Reserves | Gross Acreage* | Oil and NGL Production | Natural Gas Production | |
(MMboe) | (in thousands) | (Mbbls/day) | (MMcf/day) | |
United States | 617 | 3,809 | 141 | 527 |
Egypt | 197 | 5,300 | 71 | 264 |
United Kingdom | 99 | 494 | 38 | 39 |
Other International | ‒ | 2,934 | ‒ | ‒ |
*Developed and undeveloped |
APA Corporation | 2021 Summary Annual Report
03 2021 Key Metrics
250
Oil and NGL Production
(Mbbls/day)
830
Natural Gas Production
(MMcf/day)
334
Adjusted Production¹
(Mboe/day)
913
Proved Reserves
(MMboe)
APA Corporation | 2021 Summary Annual Report
Production | Proved Reserves | ||
(% of total) | (% of total) | ||
United States | 59% | United States | 67% |
Egypt | 30% | Egypt | 22% |
United Kingdom | 11% | United Kingdom | 11% |
388Mboe/d
Total Production
Production by Product
(% of total)
Oil | 47% |
NGLs | 17% |
Natural Gas | 36% |
2021 Adjusted Production
69% | 31% | |||||||
United States | International | |||||||
52% | 48% | |||||||
Conventional | Unconventional | |||||||
86% | 14% | |||||||
Onshore | Offshore |
$6.50Billion
Oil & Gas Revenue
Revenue by Product
(% of total)
Oil | 70% |
NGLs | 11% |
Natural Gas | 19% |
04
$1.06
Billion
Upstream Capital Investment2
$4.57
Billion
Adjusted EBITDAX²
$2.59
Net Income Per Diluted Share
$3.90
Adjusted Income Per Share2
- Excludes production attributable to Egypt tax barrels and noncontrolling interest.
- For a reconciliation to the most directly comparable GAAP financial measure, please refer to the Non-GAAP Reconciliations in APA's fourth-quarter 2021 earnings release.
APA Corporation | 2021 Summary Annual Report
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APA Corporation (US) published this content on 17 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2022 20:42:22 UTC.
