APA Corporation, parent of U.S.‑based Apache, said its Egyptian operations averaged 61,000 barrels of oil equivalent per day (boe/d) on an adjusted basis in the second quarter of 2026, in line with guidance, while gross output stood at 207,000 boe/d.
Meanwhile, Gross gas production in Egypt increased to 539 million cubic feet per day (mmcf/d) in Q2 of 2026, up from 518 mmcf/d in Q1 of 2025. The APA’s gas-focused development program supported the growth. The group noted that nearly half of its gas production in Egypt is now realizing enhanced value under the country’s modernized pricing agreement.
At the same time, the partner company’s share of natural gas production in Egypt dropped to around 109,125 million cubic feet per day in the second quarter of 2026, down from 115,319 million cubic feet per day during the same period in 2025. Oil production also fell to 23,386 barrels per day, compared to 28,762 barrels per day a year earlier, according to a release by the company, which didn’t give reasons for the decline.
The partner company referenced in APA Corporation’s non-controlling interest in Egypt is believed to be China Petroleum & Chemical Corporation (Sinopec), which bought one-third of APA Corporation’s Egyptian oil and gas operations in 2013.
APA’s average oil price in Egypt rose to $95.95/barrel in Q2 2026, compared with $66.39/bbl in Q2 2025. The average Egyptian natural gas price increased to $4.23/mcf, from $3.48/mcf a year earlier.
At the group level, APA reported net income attributable to common stock of $747 million in Q2 2026, compared with $603 million in Q2 2025.
Its Adjusted Earnings Before Interest, Taxes, Depreciation, Amortisation, and Exploration Expense (EBITDAX) increased to $1.8 billion in Q2 of 2026, compared with $1.3 billion in the same period last year. The company generated $1.7 billion in net cash from operating activities during the quarter, up from $1.2 billion in Q2 2025.
“We delivered a very strong second quarter, with excellent operational execution across our core assets,” said John J. Christmann IV, APA’s CEO.
“We’re sustaining top-tier operational performance and driving stronger production, lower costs and lower capital intensity. These results reflect the structural improvements we’ve made over the past two years to become a cost leader and drive higher capital efficiency across the Permian and Egypt,” Christmann added.
APA’s total production averaged approximately 410,000 boe/d, including Egypt, compared with 465,000 boe/d in Q2 2025.
Apache, active in Egypt since the mid-1990s, is a leading Western Desert producer through its joint venture with EGPC, Khalda Petroleum. It is actively operating a 12-rig drilling program across its Egyptian acreage and has committed to invest $4 billion in Egypt for the coming three years.
In May, Khalda announced a $1.043 billion upstream investment program for FY 2026/27, covering 47 exploratory wells and 57 production wells. The investment plan follows 15 oil discoveries in H1 FY 2025/26, which added about 15 million barrels of oil equivalent to reserves. Khalda also drilled 26 development wells and completed 75 workovers during the period.
APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the US, Egypt and the UK and that explore for oil and natural gas offshore Suriname and elsewhere.
