APA Corporation’s operations in the Midland Basin are a testament to the power of a focused, block-by-block development strategy. By concentrating drilling and completion efforts in key blocks, the company maximizes operational efficiency, reduces costs, and maintains a steady stream of production.
On Aug. 19, Reuters reported that APA Corporation is considering selling its oil and gas drilling properties in the Permian basin, for roughly $1 billion. These assets are owned by APA’s subsidiary, Apache.
APA Corporation’s remarkable second-quarter performance in the Permian Basin showcases its robust operational capabilities and strategic agility. The integration of Callon assets ahead of schedule and the decision to maintain a high level of rig activity underline APA’s commitment to growth and efficiency.
Scotiabank reaffirmed its Sector Perform rating on Apache Corp (NASDAQ) with a price target of $30.00 after reviewing Apache’s latest quarterly information. Apache’s adjusted EPS and CFPS are projected at $0.93 and $2.99, respectively. The company reported higher-than-expected dry hole expenses and favorable outcomes in Egypt, with tax barrels surpassing…
APA Corporation is selling non-core assets in Texas for over $700 million, with divestments in the Midland Basin and East Texas.
APA Corporation’s acquisition of Callon Petroleum Company (NYSE: CPE) has been completed. The transaction was approved by APA and Callon shareholders at special meetings held on March 27, 2024.
In a significant transaction, Apache Midstream LLC, a wholly owned subsidiary of Apache Corporation (NASDAQ:APA), has sold its entire stake in Kinetik Holdings Inc. (NASDAQ:KNTK). The sale, which occurred on March 18, 2024, involved 13,079,871 shares of Class A Common Stock at a price of $33.75 per share, resulting in a total transaction value of approximately $441 million.
Reported fourth-quarter production was 414,000 BOE per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 341,000 BOE per day. Net cash provided by operating activities in the fourth quarter was $1.0 billion, and adjusted EBITDAX was $1.4 billion.
APA Corporation ranks #29 in wells drilled in 2023 with 103 wells drilled in the US has operations in the Midland & Delaware basins located in the Permian Basins recently purchased assets from Revenir Energy Inc (formerly Legacy Reserves) in the Midland Basin.
Houston’s Apache Corporation agreed recently to pay a $4 million fine for clean air violations of its more than 400 oil and gas wells in the Permian Basin. It led New Mexico officials to call for even more scrutiny of oil and gas operations.
