APA Corp. (NASDAQ:APA) +4.7% pre-market Monday after saying it expects Q3 U.S. production of 212K boe/day, exceeding the high end of previous guidance, while Q3 international volumes of 171K boe/day come in below the low end of guidance.
The company said the shortfall in international volumes is related to North Sea production, which was 8K boe/day below guidance due to significant unplanned downtime in August and September.
APA (APA) said its estimated Q3 U.S. average realized prices are $94/bbl for oil, $33/bbl for natural gas liquids, and $6.80/Mcf for natural gas; estimated Q3 international average realized prices are $100/bbl for oil, $66/bbl for NGL, and $4.10/Mcf for gas.
APA Corp. (APA) shares also are benefiting as crude oil prices soar 5% as OPEC+ considers a production cut.
Read the original article