Apa announces over $700 million in asset sales from two transactions for non-core texas properties

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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