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 has appointed Kenneth M. Fisher to its board of directors. Fisher, 62, currently serves as executive vice president and CFO of ChampionX. He previously held the same position at Noble Energy until its Chevron acquisition in 2020, where he also chaired Noble Midstream Partners. His career includes senior leadership roles at Shell plc and General Electric. Fisher brings extensive financial and leadership experience across the oil and gas sector, which will provide valuable insight as APA continues to meet global energy needs.
Kinetik Holdings Inc. (NYSE: KNTK) has announced a 4% increase in its quarterly cash dividend to $0.78 per share ($3.12 annualized) for Q3 2024. The dividend will be paid on November 7, 2024, to shareholders of record as of October 28, 2024. CEO Jamie Welch cited strategic transactions and business outperformance as reasons for the increase, stating they've reached their 3.5x leverage target earlier than expected.
The company will host its Q3 2024 results conference call on November 7, 2024, at 8:00 am CST, with the earnings release scheduled for November 6, 2024, after market close. Kinetik also reminded shareholders of its Dividend Reinvestment Plan (DRIP), which is open to all shareholders and can be accessed through the Broadridge website or by contacting Broadridge Corporate Issuers,
APA (Nasdaq: APA) has announced the retirement of Anthony Lannie, executive vice president and general counsel, effective Oct. 9, 2024. David J. Bernal has been promoted to vice president Legal and acting general counsel. Bernal, who joined APA in 2008, has extensive experience in commercial litigation and has supported various company initiatives. Prior to joining APA, Bernal served as a Texas state district judge and worked as a legal associate at Baker Botts and King & Spalding.
John J. Christmann, IV, CEO of APA , expressed gratitude for Lannie's 21 years of service and confidence in Bernal's leadership as he takes over the corporate legal function.
APA has released supplemental information for its third-quarter 2024 financial and operational results. Key highlights include:
- Estimated average realized prices for oil, NGL, and natural gas in the US and internationally
- Egypt tax barrels at 35 MBoe/d
- Realized gain on commodity derivatives of $3 million
- Dry hole costs between $10-$15 million
- Net gain on oil and gas purchases and sales of $178 million
- General and Administrative Expense of $100 million
APA curtailed approximately 103 MMcf/d of U.S. natural gas production and 10,000 barrels per day of natural gas liquids due to weak Waha hub prices. The company also announced a $950 million divestiture of non-core Permian Basin assets. APA repurchased 0.1 million shares at an average price of $29.32 per share during Q3. The company will host its Q3 2024 earnings call on November 7 at 10 a.m. Central time.
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.