APA Corporation is an independent energy company engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company's operations are primarily located in the U.S., Egypt, and the North Sea, with additional exploration activities in Suriname and other international locations. APA focuses on a diversified asset portfolio and optimizing shareholder value through strategic transactions and internally generated exploration.

• Employees: 2,271 (as of December 31, 2023)
• Geographic Footprint: U.S., Egypt, U.K. (North Sea), Suriname, and other international locations
• Headquarters: Houston, Texas
• Founded: N/A
• Number of locations/facilities: Offices in Midland, Texas; Houston, Texas; Cairo, Egypt; and Aberdeen, Scotland
• Revenue: $7.385 billion (FY2023)
• Market Capitalization: $10.499 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Apache Corporation

• CEO: John J. Christmann IV
• CFO: Stephen J. Riney
• Other Key Executives: Rebecca A. Hoyt (Senior Vice President, Chief Accounting Officer, and Controller)
• Board Chair: H. Lamar McKay (Independent, Non-Executive Chair of the Board)

Information on tenure and experience is not available in the 10-K.

• Annual Revenue: $7.385 billion (FY2023)
• Net Income: $2.855 billion (FY2023)
• Market Cap: $10.499 billion (as of June 30, 2023)
• Total Assets: $15.244 billion (as of December 31, 2023)
• Number of Employees: 2,271 (as of December 31, 2023)
• Key Financial Highlights: Lower revenues due to decreased commodity prices, partially offset by a non-cash deferred income tax benefit of approximately $1.7 billion.

APA's primary products are crude oil, natural gas, and natural gas liquids (NGLs).

• Crude Oil: APA produces crude oil from both conventional and unconventional resources, primarily in the U.S., Egypt, and the North Sea.
• Natural Gas: The company produces natural gas, which is sold at various delivery points, including to a U.S. LNG export facility.
• Natural Gas Liquids (NGLs): NGLs are produced and sold under contracts with prices based on Gulf Coast supply and demand conditions.

APA's operations are divided into three main geographic segments:

• United States: Primarily focused in the Permian Basin, Eagle Ford shale, and Austin Chalk areas with additional operations in the Gulf of Mexico and along the Gulf Coast. Contributed approximately 54% of production and 41% of revenues in 2023.
• Egypt: Onshore conventional assets in Egypt's Western Desert. Contributed approximately 35% of production and 41% of revenues in 2023.
• North Sea: Offshore assets on the U.K.'s Continental Shelf. Contributed approximately 11% of production and 18% of revenues in 2023.

APA's strategy focuses on long-term returns, maintaining a balanced asset portfolio, and managing costs. Key initiatives include:

• Advancing activities offshore Suriname.
• Investing for long-term returns over production growth.
• Budgeting conservatively to generate cash flow for debt reduction and share repurchases.
• Aggressively managing cost structure and closely monitoring hydrocarbon pricing fundamentals.

APA operates in the highly competitive oil and gas industry. Key aspects of the competitive landscape include:

• Primary Industry: Oil and gas exploration and production.
• Market Position: One of the largest operators in the Permian Basin.
• Key Competitors: National oil companies, major integrated oil and gas companies, and other independent oil and gas companies.
• Industry Trends: Volatility in commodity prices, global supply chain uncertainties, and actions taken by foreign oil and gas producing nations.

• Market Risks: Volatility in oil, natural gas, and NGL prices; changes in supply and demand; and actions by foreign oil and gas producing nations.
• Operational Risks: Drilling risks, supply chain disruptions, and potential for personal injury, property damage, and environmental accidents.
• Financial Risks: Credit risk with counterparties, liquidity and interest rate risks, and potential for impairment of assets.
• Regulatory Risks: Changes in tax legislation, environmental regulations, and government policies related to hydraulic fracturing and emissions.
• Integration Risks: Risks associated with the integration of acquisitions, such as the pending acquisition of Callon Petroleum Company.