APA corporation to acquire Callon Petroleum company
Published by Jack Roscoe,
Editorial Assistant
Oilfield Technology,
APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately US$4.5 billion.
Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA common stock. The transaction is expected to be accretive to all key financial metrics and add to APA's inventory of short-cycle opportunities. Callon's assets provide additional scale to APA's operations across the Permian Basin, most notably in the Delaware Basin, where Callon has nearly 120 000 acres. On a pro forma basis, total company production exceeds 500 000 boe/d and enterprise value increases to more than US$21 billion.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/05012024/apa-corporation-to-acquire-callon-petroleum-company/
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