"APA Expands Shale Footprint with $4.5 Billion All-Stock Callon Acquisition Amid Energy Deal Surge"

APA Corporation is set to acquire Callon Petroleum Company in a $4.5 billion all-stock deal, which includes Callon's net debt. This acquisition will bolster APA's presence in the Permian Basin, particularly in the Delaware Basin, and is part of a broader trend of consolidation in the U.S. oil industry. The combined company will have a production capacity exceeding 500,000 boe per day and an enterprise value of over $21 billion. The deal is expected to close in the second quarter of 2024, pending shareholder and regulatory approvals.