APA Announces over $700 Million in Asset Sales from Two Transactions for Non-core Texas Properties

May 20, 2024

https://www.globenewswire.com/news-release/2024/05/20/2885152/0/en/APA-Announces-over-700-Million-in-Asset-Sales-from-Two-Transactions-for-Non-core-Texas-Properties.html

HOUSTON, May 20, 2024 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq:APA) announced today the sale of non-core producing properties by Apache Corporation and certain of its subsidiaries in two separate transactions with aggregate proceeds of more than $700 million, prior to customary closing adjustments. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 barrels of oil equivalent per day (Mboe/d), of which just over one-third is oil. Proceeds from these asset sales will be used primarily to reduce nearer-term borrowings. Closing for both sales is expected early in the third-quarter 2024.

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