APA Corporation (NASDAQ: APA) has agreed to acquire privately held Savant Alaska for approximately $70 million, strengthening its position on Alaska’s North Slope and securing key infrastructure assets that could accelerate future development.
The acquisition includes the Badami production facility, capable of handling 40,000 barrels per day, the Nutaaq pipeline with 80,000 barrels per day of capacity connecting to the Trans-Alaska Pipeline System (TAPS), and associated field infrastructure. APA will also gain approximately 104,000 gross acres and about 1,500 barrels per day of existing production through interests in the Badami and Grey Owl units.
Following the transaction, APA’s eastern North Slope acreage position will expand to approximately 487,000 gross acres. The company plans to drill two exploration and appraisal wells during the 2026-2027 winter season.
CEO John Christmann stated that owning the infrastructure adjacent to APA’s acreage will improve operational flexibility and reduce execution risk for the company’s planned drilling activities. The acquisition aligns with APA’s broader strategy of strengthening its North American asset base while maintaining capital discipline.
For oilfield service companies, contractors, and suppliers active in Alaska, the deal signals continued exploration activity and potential future development opportunities in the eastern North Slope region as APA advances its drilling program.
Author: phinds