APA Curtailed Approximately 103 MMcf/d Of U.S. Natural Gas Production In Q3 In Response To Weak Or Negative Waha Hub Prices; Also Curtailed An Estimated 10,000 Barrels Per Day Of Natural Gas Liquids During The Quarter, Which Were Mostly Associated With The Voluntary Gas Curtailments
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APA Corporation curtailed 103 MMcf/d of U.S. natural gas production and 10,000 barrels per day of natural gas liquids in Q3 due to weak or negative Waha hub prices. This exceeded their previous guidance of 90 MMcf/d and 7,500 barrels per day.
October 09, 2024 | 8:13 pm
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APA Corporation reduced its natural gas and NGL production in Q3 due to weak Waha hub prices, exceeding previous guidance. This indicates potential revenue impact due to lower production volumes.
The curtailment of natural gas and NGL production by APA Corporation due to weak Waha hub prices suggests a negative impact on revenues, as production volumes were lower than initially guided. This could lead to a short-term negative impact on APA's stock price.
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