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Callonpetroleum

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business-and-finance2 years ago•1 min saved

"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.

via OilPrice.com|

##apa #business-and-finance

business-and-finance2 years ago•3 min saved

"APA Corporation Seals $4.5 Billion All-Stock Deal for Callon Petroleum Amid Energy Sector Shake-Up"

APA Corp. has agreed to acquire Callon Petroleum Co., a Permian Basin shale oil driller, for $2.6 billion in an all-stock transaction, with the total enterprise value of the deal being $4.5 billion including debt. This move is part of a broader trend of consolidation in the US oil industry, with APA looking to bolster its near-term cash flow and scale up its operations in the Permian Basin. The acquisition is expected to close in the second quarter, and APA plans to maintain drilling operations post-acquisition, contrary to the industry trend of reducing rigs.

via Yahoo Finance|

##acquisition #apa

business-and-finance2 years ago•14 min saved

"APA Corporation Seals $4.5 Billion All-Stock Deal for Callon Petroleum Acquisition"

APA Corporation has announced an all-stock transaction to acquire Callon Petroleum Company, valued at approximately $4.5 billion, including Callon's net debt. The deal is expected to be accretive to APA's financial metrics, enhance its Permian Basin asset base, and increase its pro forma production to over 500,000 BOE per day. The transaction will see Callon shareholders receive 1.0425 shares of APA for each share of Callon, with the combined enterprise value exceeding $21 billion. The merger is anticipated to close in the second quarter of 2024, subject to shareholder and regulatory approvals.

via Callon Petroleum Company|

##apacorporation #business-and-finance