By Ben Glickman
APA Corp. expects third-quarter total adjusted production and adjusted oil output to be in the upper half of its guidance ranges.
The Houston-based oil and natural gas exploration company said quarterly production was helped by strength in Permian oil and U.K. North Sea volumes.
Oil production from the company’s Egypt business is expected to come in slightly below guidance for the third quarter, APA said.
APA said U.K. North Sea production is expected to decline 10% to 15% sequentially in the fourth quarter because of platform downtime due to unscheduled compressor motor repairs.
The company had previously predicted its total adjusted output for the third quarter would average 337,000 to 339,000 barrels of oil equivalent a day and adjusted oil production would be 159,000 to 161,000 barrels of oil a day.
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