APA Expects UK North Sea Production To Dip Sequentially In Q4
Portfolio Pulse from Lekha Gupta
APA Corp has provided supplemental information regarding its Q3 FY23 financial results, which will be announced on November 2, 2023. The company expects adjusted production and adjusted oil production in the upper half of its guidance range, mainly aided by strong Permian oil and U.K. North Sea volumes. However, APA projects a 10% to 15% decline in production in the U.K. North Sea in Q4 due to unscheduled compressor motor repairs. APA shares closed lower by 0.74% at $37.73 on Thursday.
October 06, 2023 | 10:08 am
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NEGATIVE IMPACT
APA Corp expects strong Q3 FY23 production but anticipates a decline in Q4 due to unscheduled repairs. The company's shares closed lower by 0.74% at $37.73 on Thursday.
The company's projection of a decline in Q4 production due to unscheduled repairs could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price. This is reflected in the 0.74% decrease in the company's shares on Thursday.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100