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.
“At Apache, we focus on delivering top operational performance,” an Apache spokeswoman said from Houston. “Over the last three years we have made significant strides to more efficiently and responsibly extract hydrocarbons including the elimination of routine flaring across U.S. onshore operations.
APA Corporation Reiterating upstream 2023 capital budget of $2.0 to $2.1 billion and production forecast of 396,000 BOE per day
Free drilling report for APA Corp. APA Corporation has been operating in the Permian Basin of Texas and New Mexico since the 1990s. The area has played a significant role in the company’s long-term strategy, offering both conventional and unconventional opportunities.
Fresh water is a precious and limited resource. The oil & gas industry minimize water use by using nonfresh sources when possible, employing recycling technologies, and by reducing the overall amount of water required for operations.
Callon Petroleum guidance capital budget of $430 million and annual production guidance of 90 – 92 MBoe/d (63% oil).
