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 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.
APA (Nasdaq: APA) announced significant leadership changes and organizational restructuring. Clay Bretches, executive vice president of Operations, will retire on July 1, 2025, with the company conducting both internal and external searches for his replacement. The transition is expected to be completed in the first half of 2025.
Kimberly Warnica has been appointed as executive vice president and chief legal officer, effective January 13, 2025. Warnica joins from Marathon Oil , where she served as executive vice president, general counsel and secretary. She previously held leadership positions at Alta Mesa Resources, Inc. and Freeport-McMoRan Oil & Gas Company.
As part of its organizational restructuring, APA is streamlining its leadership structure, reducing officer-level positions by over 30% from 29 to 19 through planned retirements, departures, and role changes.
APA announced pricing terms for cash tender offers to purchase up to $1 billion aggregate principal amount of Apache notes. The tender offers include specific series of notes due in 2040, 2042, 2043, and 2044. The tender total consideration includes an early participation premium of $30 per $1,000 principal amount.
APA has set series caps for different notes: $700 million for 2040 Notes, $125 million for 2042 Notes, $196.043 million for 2043 Notes, and $110.002 million for 2044 Notes. Due to high tender volume, APA does not expect to accept any 2037 Notes. The settlement date is expected to be January 10, 2025.
Concurrently, APA is offering to exchange Apache Notes for new APA Notes, with any unaccepted tender offers being eligible for exchange. The offers include consent solicitations for proposed amendments to the indentures.
APA announced extended early results of its exchange offers, tender offers, and consent solicitations for Apache notes. The company increased the Series Cap for 2043 Notes to $196,043,000 and 2044 Notes to $110,002,000. As of December 20, 2024, significant portions of various note series were tendered, with participation rates ranging from 35.89% to 95.50%. The offers will expire on January 7, 2025, with settlement expected on January 10, 2025.
For notes tendered before the Extended Early Consent Date, eligible holders will receive the Exchange Total Consideration of $970 principal amount of APA Notes plus $1.00 in cash, and an additional $30 principal amount of APA Notes. Due to exceeding the Maximum Purchase Amount of $1,000,000,000, APA doesn't expect to accept tender offers made after the Extended Early Consent Date.
APA (Nasdaq: APA) announced early results of its private exchange offers, tender offers, and consent solicitations for Apache notes. The company extended the Early Consent Date to December 20, 2024, with offers expiring on January 7, 2025, and settlement expected on January 10, 2025.
The exchange offers allow eligible holders to exchange Apache notes for new APA notes, while tender offers propose to purchase up to $1 billion aggregate principal amount of certain Apache notes for cash. As of December 16, 2024, significant portions of various note series were tendered, with the 2049 Notes showing the highest participation at 71.96% and the 2040 Notes at 68.06%.
APA waived the Requisite Consents condition for certain offers and announced that Apache will guarantee the new APA Notes on terms similar to APA's 2022 syndicated credit facilities. The company will hold an investor call on December 17, 2024, to discuss the offers' terms.
APA (Nasdaq: APA) has announced that its board of directors has declared a regular cash dividend of 25 cents per share on the company's common stock. The dividend will be paid on February 21, 2025, to shareholders who are recorded as stockholders as of January 22, 2025.
Permian Resources (NYSE: PR) has announced the sale of its natural gas and oil gathering systems in Reeves County, Texas to Kinetik Holdings for $180 million in cash. The sale includes recently purchased and legacy company-owned midstream infrastructure but excludes water infrastructure and surface acreage.
The transaction is expected to close in Q1 2025, subject to regulatory approval. The divestiture aims to streamline operations and enhance value for investors while allowing Permian Resources to increase its residue natural gas sales at Gulf Coast pricing, reducing exposure to in-basin Waha pricing. The company expects no significant impact on its cash operating costs.
Kinetik Holdings (NYSE: KNTK) has announced a definitive agreement to acquire natural gas and crude oil gathering systems from Permian Resources for $180 million in cash. The assets, primarily located in Reeves County, Texas, include approximately 60,000 gross operated acres dedicated under long-term, fixed-fee agreements.
The transaction features over 250 Mmcf/d of primarily owned electric compression with a private electric distribution system, and is expected to handle more than 150 Mmcf/d of gas gathered volumes and 25 Mb/d of crude gathered volumes in 2025. The assets are adjacent to Kinetik's existing Delaware South system and will be integrated post-closing. The deal is expected to close in Q1 2025, subject to customary conditions.
APA has launched exchange and tender offers for notes issued by its subsidiary Apache The exchange offers allow eligible holders to swap Apache notes for new APA notes with identical terms, plus cash consideration. Simultaneously, APA is offering to purchase up to $1 billion in Apache notes for cash.
The offers include an early participation premium for holders who tender before December 16, 2024. The exchange offers include 14 different series of notes, while the tender offers target specific series with individual caps. APA is also seeking consent to amend the Apache notes' indentures, requiring majority or 66⅔% approval depending on the series.
The offers will expire on January 2, 2025, with settlement expected around January 9, 2025. The tender offers are subject to financing conditions.
APA announced its third-quarter 2024 financial and operational results. Detailed results are available on the company's website. APA will host a conference call on Nov. 7 at 10 a.m. Central time to discuss these results. A replay of the call will be accessible for one year on the company's 'Investors' page.
Kinetik Holdings reported strong Q3 2024 financial results with net income of $83.7 million, a 94% increase year-over-year, and Adjusted EBITDA of $265.7 million, up 23%. The company increased its 2024 Adjusted EBITDA guidance to $970-1000 million and tightened Capital Expenditures guidance to $270-290 million. Natural gas processing volumes reached 1.71 Bcf/d, a 15% increase year-over-year. Kinetik increased its quarterly dividend by 4% to $0.78 per share and expanded its ownership in EPIC Crude to 27.5%. The company announced plans for a new pipeline connecting Delaware North and South systems, capable of flowing over 150 Mmcf/d of rich gas.