(Source: Shutterstock.com)
APA Corp. curtailed more natural gas and NGL output than previously anticipated due to commodity price weakness.
APA, the parent company of Apache Corp., curtailed approximately 103 MMcf/d of U.S. natural gas production during the third quarter “in response to weak or negative Waha hub prices,” the company updated investors on Oct. 9.
The company also curtailed an estimated 10,000 bbl/d of NGL production during the quarter, which were mostly associated with voluntary gas curtailments. In July, APA said it anticipated curtailing around 90 MMcf/d of gas production and around 7,500 bbl/d of NGL output.
APA’s third-quarter U.S. natural gas production realized average sales prices of $0.15/Mcf; the company realized $3.30/Mcf on sales of its international gas volumes.
The company’s U.S. NGL volumes sold at average realized prices of $20.75/bbl, compared to international NGL pricing of $45.75/bbl.
During the third quarter, APA also sold non-core assets in the Permian’s Central Basin Platform for $950 million.
The divested properties had an estimated net production of 21,000 boe/d (57% oil) at the time of the announcement.
APA is engaged in a divestiture campaign after closing a $4.5 billion acquisition of Permian E&P Callon Petroleum on April 1.
RELATED
Recommended Reading
AI is Here—for Better or Worse—and Changing the Energy Landscape
2025-06-17 - Last year, people started talking about AI’s impact on natural gas demand. This year, it’s finally starting to take shape.
Stonepeak Launches Data Center Company Montera Infrastructure
2025-04-23 - Stonepeak has committed $1.5 billion to Montera Infrastructure to develop and operate data centers in metro areas.
M&A Target BPX Boasts Long-Term Eagle Ford Plans
2025-05-30 - BP’s onshore U.S. shale subsidiary is under the M&A magnifying glass as it boasts ‘great returns’ in fields in South Texas.
Darcy Partners Keeping Tabs with Oil, Gas’ Next Tech Startups
2025-05-20 - Darcy Partners evaluates technology that its members, particularly in the oil and gas industry, may want to put to use— from AI to a new, cool drill bits.
Plan to Convert Frac Water into Hydrogen Could Bring $5MM/Year
2025-06-18 - A group of collaborators are working to convert frac wastewater into clean hydrogen in an initiative that could lead to hydrogen sales of up to $5 million annually.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.