Diversified independent: US Permian (bolstered by the 2024 ~$4.5bn Callon deal), long-life Egypt Western Desert oil, UK North Sea (exiting by ~2029 amid the windfall tax) and the Suriname Block 58 GranMorgu development (with TotalEnergies, FID 2024).
Balance sheet carries Callon debt; a dividend plus buybacks and Suriname growth optionality. Flags: Egypt/UK exposure and North Sea wind-down.
Its EV/EBITDA of 3.2x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 7.8% is higher than the 6.5% median, and at $16.12/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, APA Corporation scores 53/100, strongest on valuation (61/100). Sub-scores: value 61, quality 54, growth 36, risk 54 (higher = riskier).
APA Corporation holds approximately 1.06 billion boe of proved (1P) reserves with FY2025 production of about 392 thousand boe/d (71% liquids), a reserve life of roughly 7.4 years. Break-even: ~$40 (WTI breakeven) — Permian + high-margin Egypt oil; North Sea exit; Suriname GranMorgu FID 2024 (first oil ~2028).
For APA Corporation, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| United States | 55% | 23 | Stable, deep; federal-lands leasing and permitting policy swings. |
| Egypt | 30% | 84 | FX shortages, arrears to IOCs, gas payment delays. |
| United Kingdom | 15% | 19 | Stable but EPL windfall tax raised North Sea fiscal burden. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Permian | United States | Shale oil | core, expanded via Callon 2024 |
| Egypt Western Desert | Egypt | Oil | high-margin PSC |
| UK North Sea | United Kingdom | Offshore oil | exiting ~2029, windfall tax |
| Suriname GranMorgu (Block 58) | Suriname | Deepwater oil | FID 2024, first oil ~2028 |
| Callon (acq.) | United States | Shale oil | 2024 Permian |
| Alpine High | United States | Gas | legacy |
| Delaware Basin | United States | Shale oil | core |
| Egypt exploration | Egypt | Oil | step-outs |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 400 | 396 | 420 | 465 | 392 |
| Proved reserves (bnboe) | 0.94 | 0.87 | 0.90 | 0.98 | 1.06 |
| Revenue ($bn) | 7.9 | 12.5 | 9.3 | 9.1 | 8.4 |
| EBITDA ($bn) | 4.8 | 7.2 | 5.6 | 5.4 | 5.4 |
| Net income ($bn) | 1.9 | 3.6 | 2.4 | 1.3 | 1.4 |
| Free cash flow ($bn) | 1.6 | 3.0 | 1.8 | 1.2 | 1.0 |
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✓ FY2025 figures verified against primary sources: