Apache parent triples profits despite North Sea snub

Apache parent triples profits despite North Sea snub

Apache parent APA Corp posted a threefold increase in profits in its full-year 2022 results, which show the North Sea continues to be a cash cow.

APA (Nasdaq:APA) reported pre-tax profits of $802m for the final quarter of 2022 in a results briefing on Thursday.

The performance propelled the group’s full year pre-tax takings to $5.7bn – triple the $1.9bn reported the previous year.