APA Corp (US) Stock Price, News & Analysis

Apache Corporation (Nasdaq: APA) has appointed Lamar McKay to its board of directors, enhancing its leadership with over 40 years of experience in the oil and gas industry. McKay served as BP's chief transition officer until December 2020 and held key roles including deputy CEO and head of BP's worldwide upstream business. Chairman John Lowe expressed confidence in McKay's ability to contribute to Apache's mission of meeting global energy needs responsibly.

Apache Corporation (Nasdaq: APA) has announced a cash dividend of 2.5 cents per share on its common stock. This dividend is scheduled for payment on May 21, 2021, to shareholders of record as of April 22, 2021. The company operates in the oil and gas sector, with activities in the United States, Egypt, the United Kingdom, and offshore Suriname.

Apache Corporation announced its fourth-quarter 2020 financial results, providing estimates for analysts. The estimated average realized prices were $41.00 per barrel of oil, $14.50 for NGL, and $1.70 for natural gas in the United States, while international prices were $44.50, $33.50, and $3.20, respectively. The company recorded a realized loss of $16 million on commodity derivatives and unrealized gains of $14 million. Additionally, dry hole costs were projected at $57-60 million. The earnings call is scheduled for February 25, 2021, after the earnings release on February 24.

Apache Corporation and Total S.A. announced a successful oil discovery at the Keskesi East-1 exploration well in Block 58 offshore Suriname. The well encountered 58 meters of net oil pay in the Campanian interval and 5 meters in the Santonian interval, with API oil gravities of 27-28 degrees and 35-37 degrees, respectively. This marks Apache's fourth consecutive discovery in the area, indicating strong exploration potential. Following this, Apache will transition operatorship of Block 58 to Total but will continue operating the Keskesi well until drilling is completed.

Apache Corporation announced a transition to a holding company structure, with the new entity named APA Corporation. This change will not affect the existing ticker symbol 'APA' as shares of Apache will convert to APA Corporation on a one-for-one basis. The new holding company will acquire subsidiaries in Suriname and the Dominican Republic, while Apache retains its U.S. assets, as well as interests in Egypt, the U.K., and Altus Midstream Company. This restructuring aims to modernize the company’s legal framework and enhance operational flexibility.

Apache Corporation has declared a regular cash dividend of 2.5 cents per common share, payable on February 22, 2021. The record date for shareholders is January 22, 2021. This announcement reflects the company's ongoing commitment to returning value to shareholders during its operations across the United States, Egypt, and the United Kingdom, as well as its exploration activities in Suriname.

Apache Corporation announced its third-quarter 2020 results and provided access on its website. A conference call is scheduled for November 5, 2020, at 10 a.m. Central time to discuss these results, which will also be available for later playback. Apache operates in oil and gas exploration and production across the U.S., Egypt, and the U.K., with exploration activities offshore Suriname. The company emphasizes transparency by posting operational updates and investor information on its website.