Welcome to our dedicated page for APA (US) news (Ticker: APA), a resource for investors and traders seeking the latest updates and insights on APA (US) stock.
APA Corp (NASDAQ: APA) is an independent energy company focused on oil and natural gas exploration across strategic global regions including the United States, Egypt, and offshore Suriname. This page provides investors and industry observers with comprehensive access to APA's official announcements and market-moving developments.
Key features: Track APA's operational updates, financial results, and strategic initiatives through verified press releases and curated news analysis. Our aggregation ensures timely access to earnings reports, partnership announcements, and technology implementations like subsea drilling systems and FPSO deployments.
Content includes: Quarterly earnings disclosures, asset acquisition updates, leadership changes, sustainability initiatives, and production capacity developments. All materials are sourced from official channels to maintain accuracy and compliance with financial reporting standards.
Bookmark this page for streamlined monitoring of APA's activities in conventional and emerging energy markets. Check regularly for updates on exploration progress, international projects, and operational efficiency advancements critical to understanding the company's market position.
Apache , a subsidiary of APA (Nasdaq: APA), has announced the donation of over 134,000 trees to 52 nonprofit organizations through its annual Tree Grant Program. Since 2005, the program has granted more than 5 million trees to over 1,000 partners. The 2024-25 recipients span diverse ecosystems across Texas, New Mexico, and Louisiana.
Key partners include Harris County Precinct 4, Texas Parks & Wildlife Department (TPWD), and Big Bend Conservation Alliance (BBCA). The program aims to support conservation, beautification, and environmental stewardship in urban areas, rural communities, and wildlife preservations. Recipients are chosen based on location, potential environmental impact, and community engagement opportunities.
APA has announced a positive final investment decision (FID) for the first oil development in Block 58, offshore Suriname. The project, named GranMorgu, will include production from the Krabdagu and Sapakara oil discoveries, with estimated recoverable resources of over 750 million barrels of oil. The total investment is estimated at $10.5 billion, with first oil expected in 2028.
The development will feature a Floating Production Storage and Offloading (FPSO) unit with a capacity of 220,000 barrels of oil per day. TotalEnergies EP Suriname B.V. is the operator with a 50% interest, alongside APA Suriname 58 LDC (50%). The project will incorporate new technologies to minimize greenhouse gas emissions, including an all-electric FPSO configuration with zero routine flaring and full reinjection of associated gas.
Kinetik Holdings Inc. (NYSE: KNTK) has announced that Todd Carpenter, General Counsel and Chief Compliance Officer, will retire from the company effective February 28, 2025. Mr. Carpenter will continue his current responsibilities and ensure a smooth transition until his retirement. After retiring, he will provide ongoing support to the company.
Kinetik has begun an internal and external search for Mr. Carpenter's successor and will announce the appointment in due course. Jamie Welch, Kinetik's President & Chief Executive Officer, praised Mr. Carpenter's almost 40-year legal career and his contributions to the company over the past seven years, expressing gratitude for his counsel, friendship, and dedicated service to Kinetik.
Palantir Technologies Inc. (NYSE: PLTR) and APA (NASDAQ: APA) have announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021. The partnership expansion introduces new artificial intelligence capabilities with Palantir's Artificial Intelligence Platform (AIP) software.
Over the past three years, Palantir has deployed its software across APA's global portfolio for various use-cases including operational planning, supply chain management, maintenance planning, production optimization, and contract management. The AIP software has enabled APA to improve production equipment reliability, optimize raw material logistics, and detect anomalies in contract and invoice documents.
The extended partnership aims to further enhance operational efficiency and business visibility across APA's global portfolio, with a focus on accelerating performance and cost management.
Diamondback Energy, Kinetik Holdings, and EPIC Midstream have announced transformative transactions for EPIC Crude Holdings. Key highlights include:
1. Diamondback and Kinetik acquired a 30% equity interest in EPIC Crude, now each owning 27.5%.
2. Diamondback increased its volume commitment to 200 MBpd.
3. Kinetik entered a new transportation arrangement with EPIC Crude.
4. Combined long-term volume commitments from partners represent over 33% of EPIC Crude's capacity.
5. EPIC Crude transports over 600 MBpd and has secured MVCs or contracts for ~90% of 2025 total volumes.
These actions aim to strengthen EPIC Crude's financial profile, reduce costs, and enhance returns. The company is positioned for potential expansion, with partners having an option for about one-third of the expansion capacity.
APA (Nasdaq: APA) has announced a regular cash dividend on its common shares. The board of directors declared a dividend of 25 cents per share, payable on November 22, 2024, to stockholders of record as of October 22, 2024. This decision demonstrates APA's commitment to returning value to shareholders and maintaining a consistent dividend policy. The announcement provides clarity on the upcoming dividend payment and relevant dates for investors to consider.
APA has announced the sale of non-core producing properties in the Permian Basin for $950 million. The properties, located in various areas of Texas and New Mexico, currently produce an estimated 21,000 barrels of oil equivalent per day, with 57% being oil. The transaction, expected to close in Q4 2024, will primarily use proceeds to reduce debt.
CEO John J. Christmann IV highlighted that this sale, along with other transactions, has high-graded and focused APA's U.S. asset base. The company has increased its onshore U.S. production by approximately 66,000 boe/d in 2024 without materially changing net debt levels compared to year-end 2023. Pro-forma Q4 U.S. production guidance is set at 307,000 boe/d, a 34% increase from Q4 2023.
Kinetik Holdings Inc. (NYSE: KNTK) has published its 2023 Sustainability Report, highlighting significant progress in environmental, safety, and sustainability initiatives. Key achievements include:
• 83% reduction in Total Recordable Incident Rate and zero lost time incidents
• 32% reduction in methane emissions intensity since 2021
• 14% reduction in greenhouse gas emissions intensity since 2021
• Formation of New Energy Ventures group to explore clean energy opportunities
• Partnership with Infinium for ultra low-carbon e-Fuels production
These accomplishments were achieved despite a 25% increase in natural gas volumes since 2021. The company implemented various technologies and programs to reduce emissions, including upgrading pneumatics, electrifying compression, and enhancing leak detection. Kinetik remains committed to fostering a culture of safety, environmental responsibility, and community engagement.
Kinetik Holdings Inc. (NYSE: KNTK) reported strong financial results for Q2 2024, with net income of $108.9 million, up 52% year-over-year, and Adjusted EBITDA of $234.4 million, a 13% increase. The company revised its 2024 Adjusted EBITDA guidance to $940-$980 million and Capital Expenditures guidance to $260-$300 million. Kinetik completed the acquisition of Durango Permian, and divested its 16% stake in Gulf Coast Express pipeline. The company sanctioned pre-FID work for Kings Landing II, doubling processing capacity. Kinetik processed 1.58 Bcf/d of natural gas in Q2, a 7% increase year-over-year. The company declared a quarterly dividend of $0.75 per share and achieved a leverage ratio of 3.4x.
APA (Nasdaq: APA) has released its financial and operational results for the second quarter of 2024. The company has made the detailed results available on its official website at www.apacorp.com or investor.apacorp.com. APA will host a conference call on August 1, 2024, at 10 a.m. Central time to discuss the results. Investors and interested parties can access the webcast link for the conference call on the company's website. Following the live discussion, a replay of the conference call will be accessible for one year on the 'Investors' page of APA's website.
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