APA Corp says Q3 net debt and free cash flow were below earlier expectations
APA Corporation issued supplemental third-quarter 2025 information on October 8, 2025, saying net debt and free cash flow were both lower than it previously expected after substantial payments from the Egyptian General Petroleum Corporation. The company paid $173 million in distributions to its non-controlling partner in Egypt during the quarter and curtailed some U.S. natural gas and natural gas liquids output because of weak or negative Waha hub prices. Because APA's free cash flow definition excludes working capital changes, the Egypt receipts do not raise free cash flow, and the full third-quarter results call is set for November 6.
Key points
- Egypt partner distributions totaled $173 million in Q3, up from $126 million in Q1 and $91 million in Q2
- APA curtailed about 20 MMcf/d of U.S. natural gas and 1,400 barrels per day of U.S. NGL production in Q3
- Estimated net gain on oil and gas purchases and sales is $177 million before tax, including realized commodity derivative gains and losses
- Third-quarter results conference call is set for Nov. 6 at 10 a.m. Central Time
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 08, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.