APA Corporation sells non-core Permian, Eagle Ford assets for $700 million
(WO) – APA Corporation announced the sale of non-core producing properties by Apache Corporation in two separate transactions for over $700 million. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 boed, of which just over one-third is oil.
“These transactions are consistent with our active management of the portfolio, and we will continue to look for opportunities to exit assets that are unlikely to compete for capital within our portfolio or to monetize non-core assets at attractive prices,” said John J. Christmann IV, chief executive officer of APA Corporation.
Midland basin minerals. Apache Corporation and its subsidiaries have agreed to sell nearly 24,000 net royalty acres across several counties in the Midland basin, part of the greater Permian basin in Texas. These mineral and royalty interests were primarily non-operated properties that produced approximately 2,000 boed net to Apache during the first quarter 2024.
East Texas Austin Chalk / Eagle Ford. Apache Corporation and its subsidiaries have agreed to sell 237,000 net acres in the East Texas Austin Chalk and Eagle Ford plays. Net production during the first quarter 2024 was approximately 11,000 boed.
“These transactions are consistent with our active management of the portfolio, and we will continue to look for opportunities to exit assets that are unlikely to compete for capital within our portfolio or to monetize non-core assets at attractive prices,” said John J. Christmann IV, chief executive officer of APA Corporation.
Lead image source: Apache Corporation
