The Art of Profit: APA Corporation’s Market Triumph

One might say that oil prices, like certain acquaintances, are not what they used to be. And so it was for APA, whose operational and financial figures bore the faintest trace of decline. Barrels of oil equivalent (BOE) per day slipped by 2% year-over-year to 465,078, dragging total revenue down from $2.79 billion to $2.61 billion. Yet, in a twist worthy of Wilde himself, GAAP net profit defied gravity, rising to $665 million from $620 million. On an adjusted, per-share basis, however, earnings settled at $0.87 against $1.17-a discrepancy that would surely provoke a raised eyebrow or two among the discerning.








