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APA Updates Q3 2022 Guidance, Expects Greater U.S. Production
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APA Corporation (APA - Free Report) recently announced supplemental information concerning third-quarter 2022 financial and operational results. The Houston, TX-based independent energy firm stated that it now anticipates third-quarter U.S. production to be 212 thousand barrels of oil equivalent per day (Mboe/d), exceeding the high end of its earlier outlook.
However, APA mentioned that third-quarter international volumes of 171 Mboe/d lag the lower end of the previous guidance. The shortfall could be attributed to poor North Sea production, which was 8 Mboe/d lower than the guidance due to substantial unplanned downtime in August and September.
APA also provided an estimate of average realized prices for the quarter, with U.S. prices projected at $94/bbl for oil, $33/bbl for natural gas liquids and $6.80/Mcf for natural gas. Meanwhile, international average realized prices are $100/bbl for oil, $66/bbl for NGL and $4.10/Mcf for gas.
The company will come out with its third-quarter 2022 results on Nov 3.
Founded in 1954, APA Corporation is one of the world's leading energy companies engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Geographically, the company’s operations are in the United States, Egypt and the North Sea of the United Kingdom. The company also holds acreage in offshore Suriname (South America) and other international locations.
The Zacks Consensus Estimate for Murphy USA’s 2022 EPS has been revised upward by about 14% over the past 60 days from $21.39 to $24.38.
MUSA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 49%.
The consensus estimate for Liberty’s 2022 earnings is pegged at $1.81 per share, up about 277.4% from the year-ago loss of $1.02.
LBRT beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters, the average being around 31.7%.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.35 per share, suggesting an increase of about 413.9% from the year-ago loss of 43 cents.
NEX beat estimates for earnings in all the trailing four quarters, the average being around 269.5%.
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APA Updates Q3 2022 Guidance, Expects Greater U.S. Production
APA Corporation (APA - Free Report) recently announced supplemental information concerning third-quarter 2022 financial and operational results. The Houston, TX-based independent energy firm stated that it now anticipates third-quarter U.S. production to be 212 thousand barrels of oil equivalent per day (Mboe/d), exceeding the high end of its earlier outlook.
However, APA mentioned that third-quarter international volumes of 171 Mboe/d lag the lower end of the previous guidance. The shortfall could be attributed to poor North Sea production, which was 8 Mboe/d lower than the guidance due to substantial unplanned downtime in August and September.
APA also provided an estimate of average realized prices for the quarter, with U.S. prices projected at $94/bbl for oil, $33/bbl for natural gas liquids and $6.80/Mcf for natural gas. Meanwhile, international average realized prices are $100/bbl for oil, $66/bbl for NGL and $4.10/Mcf for gas.
The company will come out with its third-quarter 2022 results on Nov 3.
Founded in 1954, APA Corporation is one of the world's leading energy companies engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Geographically, the company’s operations are in the United States, Egypt and the North Sea of the United Kingdom. The company also holds acreage in offshore Suriname (South America) and other international locations.
APA currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Murphy USA (MUSA - Free Report) , Liberty Energy (LBRT - Free Report) and NexTier Oilfield Solutions , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Murphy USA’s 2022 EPS has been revised upward by about 14% over the past 60 days from $21.39 to $24.38.
MUSA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 49%.
The consensus estimate for Liberty’s 2022 earnings is pegged at $1.81 per share, up about 277.4% from the year-ago loss of $1.02.
LBRT beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters, the average being around 31.7%.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.35 per share, suggesting an increase of about 413.9% from the year-ago loss of 43 cents.
NEX beat estimates for earnings in all the trailing four quarters, the average being around 269.5%.