APA curtails US natgas and NGL production in second quarter on weak prices

APA Corp APA said on Wednesday it curtailed about 10 million of cubic feet per day (MMcfpd) of U.S. natural gas production and 750 barrels per day of U.S. natural gas liquids output during the second quarter due to weak prices.

The U.S. oil and gas producer also completed the sale of its New Mexico assets in June, a deal announced in May.

APA said the transaction reduced its second-quarter U.S. production by about 1,800 barrels of oil equivalent per day, roughly 33% of which was oil.

Net proceeds from the sale, after adjustments and costs, totaled approximately $575 million.

APA expects second-quarter average realized natural gas prices in the U.S. to be $1 per thousand cubic feet (Mcf) and $4 per Mcf globally.