APA Beats Q3 Estimates as Revenue Climbs to $2.8B on Rising U.S. Oil Output   

The company's operating margin improved to 47.5% from 31.2% a year earlier, while daily oil production increased 5.9%. CEO John Christmann said better operational efficiency, lower costs and higher oil prices are helping the company generate more free cash flow.

During the earnings call, analysts asked about the company's drilling plans in Alaska, Suriname and Uruguay, as well as the stability of its operations in Egypt. Management also discussed plans to gradually shift its drilling activities towards a 60/40 split between the Midland and Delaware Basins.

APA shares were trading at $44.00, down from $44.49 before the results.

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APA reported better-than-expected quarterly results, supported by higher oil production and improved efficiency across its main operations. The company saw stronger performance in the Permian Basin and Egypt, where new wells started production earlier than expected and delivered steady output.

CEO John Christmann said better drilling efficiency, lower operating costs and higher oil prices are helping the company generate more free cash flow. This will support debt reduction and returns to shareholders.

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