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Rating as of

Morningstar’s Analysis

Valuation
Currency in USD

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Suriname Could Be a Massive Prize for APA Corp...or a Dud

Analyst Note

| Dave Meats, CFA |

We have increased our fair value estimate and uncertainty rating for no-moat APA Corp after a second look at the firm's second-quarter results. Our updated fair value estimate is $24 per share, up from $21, and our new uncertainty rating is extreme (previously very high).

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Company Profile

Business Description

Based in Houston, APA Corp. is an independent exploration and production company. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. At year-end 2020, proved reserves totaled 874 million barrels of oil equivalent, with net reported production of 440 mboe/d (66% of which was oil and natural gas liquids, with the remainder comprising natural gas).

Contact
2000 Post Oak Boulevard, Suite 100
Houston, TX, 77056-4400
T +1 713 296-6000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 2,272

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