APA Reports Sale Of Non-Core Producing Properties In The Permian Basin To An Undisclosed Buyer For $950M
Portfolio Pulse from Benzinga Newsdesk
APA Corporation has announced the sale of its non-core producing properties in the Permian Basin for $950 million. The sale includes properties in Texas and New Mexico, with net production of 21,000 boe/d. Proceeds will be used to reduce debt, with the transaction closing expected in Q4 2024.
September 10, 2024 | 8:52 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
APA Corporation is selling non-core assets in the Permian Basin for $950 million, which will be used to reduce debt. The sale involves properties with a net production of 21,000 boe/d, predominantly oil. The transaction is set to close in Q4 2024.
The sale of non-core assets for $950 million is a significant move for APA Corporation, as it will help reduce debt. This financial strengthening is likely to be viewed positively by investors, potentially boosting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100