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APA Corporation NEWS RELEASE APA Corporation Announces Second - Quarter 2021 Financial and Operational Results Key Takeaways Reported production of 395,000 barrels of oil equivalent ( BOE ) per day ; adjusted production , which excludes Egypt noncontrolling interest and tax barrels , was 342,000 BOE per day ; Generated net cash from operating activities of $ 969 million , adjusted EBITDAX of $ 1.01 billion , and free cash flow of $ 396 million ; Advanced agreement to modernize Egypt Production Sharing Contracts ; expected review by Egyptian Parliament in the fall ; and Announced appraisal drilling success offshore Suriname , moving closer to goal of commercial oil development . HOUSTON , Aug. 4 , 2021 - APA Corporation ( Nasdaq : APA ) today announced its financial and operational results for the second - quarter 2021 . APA reported net income attributable to common stock of $ 316 million , or $ 0.82 per diluted share . When adjusted for items that impact the comparability of results , APA's second - quarter earnings were $ 266 million , or $ 0.70 per diluted share . Net cash provided by operating activities was $ 969 million , and adjusted EBITDAX was $ 1.01 billion . " A combination of strong well performance in the U.S. , continued capital and cost discipline , and a favorable price environment enabled free cash flow generation of nearly $ 400 million during the quarter , " said John J. Christmann IV , APA's CEO and president . " I am also very pleased with the progress we have made on our ESG initiatives , Production Sharing Contract modernization in Egypt and appraisal drilling in Suriname . " The company is advancing key ESG initiatives and announced that it will achieve its goal of eliminating routine flaring onshore in the U.S. in the third quarter of this year . The focus on that goal has also helped drive down flaring intensity , which is tracking below the company's goal of less than 1 % for the year . In May , the company reached an agreement in principle to modernize Production Sharing Contract terms in Egypt . The agreement has been finalized and signed by the Egyptian Ministry of Petroleum and