Houston-based APA Corp. recently forecast a small increase in U.S. oil production for fullyear 2026 and maintained U.S. capital expenses at $1.3 billion. Oil production in Permian Basin – where APA controls 159,000 net acres in Delaware Basin and 287,000 net acres in Midland Basin – was flat at about 123,500 b/d to top estimates by 2 percent.
APA raised 2026 U.S. oil production guidance to 123,000 b/d from 122,000 b/d. Total company production in Q2 was 410,000 boed in Permian, Egypt and North Sea to exceed guidance.
John J. Christmann IV, CEO, said Aug. 5, “We delivered a very strong Q2 with excellent operational execution across our core assets. We’re sustaining top-tier operational performance and driving stronger production, lower costs and lower capital intensity.