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APA Corporation reports developments from an independent oil and gas exploration and production business with consolidated subsidiaries operating in the United States, Egypt and the United Kingdom, and exploration activity offshore Suriname and elsewhere. Company news commonly covers financial and operating results, production trends, realized prices for oil, natural gas liquids and natural gas, capital spending, cost initiatives and commodity-price effects on U.S. natural gas and NGL activity.
Recurring updates also include common-stock dividends, debt and shareholder-return commentary, conference-call materials, supplemental operating data and listing matters. The company’s disclosures link operating performance to its upstream asset base, including U.S. oil activity, international production and offshore exploration programs.
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.
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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.
Apache Corporation (Nasdaq: APA) provided supplemental information about its third-quarter 2020 results. Key estimates include:
- Average Realized Prices: U.S. Oil at $40.00/bbl, NGL at $13.00/bbl, Natural Gas at $1.40/Mcf.
- International Oil at $42.00/bbl, NGL at $27.00/bbl, Natural Gas at $2.80/Mcf.
- Realized loss on commodity derivatives (before tax): $83 million.
- Unrealized loss on commodity derivatives (before tax): $91 million.
Additionally, dry hole costs are estimated at $5-10 million before tax. The earnings call is scheduled for Nov. 5, 2020.
Apache Corporation (Nasdaq: APA) has declared a regular cash dividend of 2.5 cents per share on its common stock, payable on November 23, 2020. Stockholders of record as of October 22, 2020 will receive this dividend. This announcement signifies Apache's commitment to returning value to its shareholders despite current market conditions. The company operates in oil and gas exploration and production across the United States, Egypt, and the UK, with additional offshore exploration activities in Suriname.
Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) have updated their findings from the Kwaskwasi-1 discovery well offshore Suriname, which revealed hydrocarbons in multiple stacked targets. The well encountered 278 meters of net oil and gas pay, with the Campanian interval containing 63 meters of net oil pay. The Santonian interval showed 129 meters of net pay. The Noble Sam Croft drillship is now drilling the Keskesi East-1 exploration well, which is located 14 kilometers southeast of the Sapakara West-1 well. Apache holds a 50% working interest in Block 58.
Apache Corporation (Nasdaq: APA) has amended its cash tender offers to purchase various series of Notes, increasing the maximum purchase price from $460 million to $638.2 million. The company will accept all Notes tendered by the August 14, 2020, deadline. The Offers include a total of $1.25 billion in new debt financing, facilitating the transaction. The early settlement date for accepted Notes is expected on August 18, 2020. The Offers will expire on August 28, 2020, and the company will not accept further tenders beyond the early deadline due to the maximum purchase price already being reached.
Apache Corporation (NASDAQ: APA) has priced $1.25 billion in notes, comprising $500 million in 4.625% notes due 2025 and $750 million in 4.875% notes due 2027. The offering aims to use proceeds for cash tender offers on senior indebtedness, repaying borrowings under its revolving credit, and for general purposes. Expected net proceeds, after discounts, are approximately $1.237 billion. The offering is set to close on August 17, 2020, pending customary conditions.
Apache Corporation (NASDAQ: APA) has initiated tender offers to buy up to $460 million of its outstanding notes. The offer is structured across seven series of notes, with varying principal amounts and acceptance priority levels. A key condition for these purchases requires Apache to secure at least $1 billion in new debt financing. The offers are set to expire on August 28, 2020, with an early tender deadline on August 14, 2020, providing an early tender premium for participants. This initiative reflects Apache's strategic approach to managing its debt portfolio.