(Oil Price) – U.S. oil producer Apache plans to cease oil production at its assets in the UK North Sea by 2030, due to the windfall tax on operators. Apache’s parent company APA Corporation said in an SEC filing that its assessment of the impact of the windfall tax, officially known as the Energy Profits Levy (EPL), resulted in findings that continued production
Oil and Gas 360 HOUSTON, Sept. 10, 2024 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) announced today entry into an agreement for the sale of non-core producing properties in the Permian Basin to an undisclosed buyer for $950 million, prior to customary closing adjustments. The properties are located in the Central Basin Platform, Texas and New Mexico Shelf, and Northwest
World Oil (WO) — Post Oak Minerals V, an affiliate of Post Oak Energy Capital LP, has completed 10 acquisitions valued at over $475 million since early 2024, primarily focusing on the Permian basin. The acquisitions include over 28,400 net royalty acres (NRA) of mineral and royalty interests, with 27,400 NRA located in the Permian basin. The remaining assets are
World Oil (WO) — The American Petroleum Institute (API) released a statement from API Senior Vice President and General Counsel Ryan Meyers applauding the U.S. Supreme Court’s decision to stay the U.S. Environmental Protection Agency’s (EPA) ‘Good Neighbor Rule,’ ensuring the oil and gas industry can continue to provide affordable, reliable energy to American consumers at a time of persistent
World Oil Publisher’s Note: APA Corporation will be presenting at EnerCom Denver- The Energy Investment Conference, August 18-21, 2024. Register to attend. (WO) – At the 2024 Suriname Energy Oil and Gas Summit, Javier Rielo, Senior Vice President Americas, Exploration & Production for TotalEnergies, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V, the Suriname National Oil Company, announced several
World Oil (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
World Oil (WO) – On Feb. 21, APA Corp. released its 2023 financial results and 2024 operational outlook. In the report, APA forecasted strong U.S. oil growth in 2024, approximately 8% year-over-year and more than 10% from fourth-quarter 2023 to fourth-quarter 2024. The company has an upstream capital budget of up to $2 billion and will invest to sustain production
World Oil (WO) – On Jan. 9, APA Corporation announced that Stephen J. Riney has been promoted to President and Chief Financial Officer. Riney has served as Executive Vice President and Chief Financial Officer since joining APA in 2015. Prior to joining APA Corporation in 2015, Riney was the Chief Financial Officer for BP exploration and production and oversaw all
World Oil (Bloomberg) –APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North African nation. APA was the day’s best performer in the S&P 500 Index. APA and Sinopec will collect the “backlogged costs” over a five-year period that began on April 1,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Cuda Oil and Gas to sell all of its Quebec assets for a transaction value of US $8.05 Million Cuda Oil and Gas Inc. (stock ticker: CUDA), a Calgary-based E&P with operations across North America, has entered into a series of binding asset purchase agreements (APAs) to sell all of its
In this Midland/Delaware Basin infrastructure roundup, the following E&Ps are covered: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Company (ticker: APA) Callon Petroleum Company (ticker: CPE) Waterworks Halcón plans water saving costs Halcon reported a LOE and workover expense at $6.3 million for the quarter, or $6.36 per Boe. This amount included approximately $700,000
Oil & Gas 360® takes a look at three companies with operations in the Permian: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Corporation (ticker: APA) Halcón Resources Production for the first quarter of 2018 averaged 10,967 BOEPD for Halcón, comprised of 70% oil. This production rate represents a 75% growth rate from the fourth quarter of
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