Tag

Permianbasin

All articles tagged with #permianbasin

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