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APA Corporation ● Key Takeaways Reported production of 382,000 barrels of oil equivalent ( BOE ) per day ; adjusted production , which excludes Egypt noncontrolling interest and tax barrels , was 326,000 BOE per day ; Generated net cash from operating activities of $ 671 million , adjusted EBITDAX of $ 1.14 billion , and free cash flow of more than $ 500 million ; Delivered upstream capital investment and LOE below guidance ; Announced in January fourth consecutive discovery in Block 58 offshore Suriname at Keskesi East - 1 well ; ● NEWS RELEASE APA Corporation Announces First - Quarter 2021 Financial and Operational Results Modernized company's legal structure with formation of holding company APA Corporation ; and Reached agreement in principle in May to modernize Egypt Production Sharing Contracts . HOUSTON , May 5 , 2021 - APA Corporation ( Nasdaq : APA ) today announced its financial and operational results for the first - quarter 2021 . APA reported net income attributable to common stock of $ 388 million , or $ 1.02 per diluted share . When adjusted for items that impact the comparability of results , APA's first - quarter earnings were $ 346 million , or $ 0.91 per diluted share . Net cash provided by operating activities was $ 671 million , and adjusted EBITDAX was $ 1.14 billion . The company generated $ 502 million in free cash flow during the quarter . First - Quarter Summary " We made excellent progress during the first quarter with regard to our top priority of free cash flow generation and net debt reduction , " said John J. Christmann IV , APA's CEO and president . " We performed well relative to our production expectations , demonstrated good capital and cost discipline , delivered excellent safety performance across the organization despite challenging weather events , and made significant progress on our ESG goals , which are focused on air , water , people and communities . " First - quarter reported production was 382,000 BOE per day , and adjusted production , which excludes Egypt noncontrolling interest and tax barrels , was 326,000 BOE per day . U.S. production of 210,000 BOE per day benefitted from a faster - than - expected recovery following winter storm Uri . This more than