APA Corp. beat production guidance throughout its portfolio assets in the Permian Basin, Egypt and in Suriname, reduced net debt by more than $850 million and returned some $140 million to shareholders through its dividends and buybacks during the second quarter.

The company plans to generate $200 million in savings this year, and reach a savings run rate of $300 million by the end of the year. APA expects to lift its run rate (the metric that extrapolates savings over a given timeframe to a full year) to $350 million at some point in 2026.

鈥淲e remain firmly committed to shareholder returns and balance sheet strengthening through debt reduction,鈥� CEO John Christmann said during an Aug. 7 call with investors.

APA Corp. beat production guidance throughout its portfolio assets in the Permian Basin, Egypt and in Suriname, reduced net debt by more than $850 million and returned some $140 million to shareholders through its dividends and buybacks during the second quarter.

The company plans to generate $200 million in savings this year, and reach a savings run rate of $300 million by the end of the year. APA expects to lift its run rate (the metric that extrapolates savings over a given timeframe to a full year) to $350 million at some point in 2026.

“We remain firmly committed to shareholder returns and balance sheet strengthening through debt reduction,” CEO John Christmann said during an Aug. 7 call with investors.