AcquisitionsJun 10, 2026, 07:01 AM
APA Corp Acquires Savant Alaska for $70M to Boost North Slope Position
AI Summary
APA Corporation announced an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront consideration, plus additional contingent payments. This acquisition secures key midstream, pipeline, and field infrastructure adjacent to APA's existing acreage, enhancing development flexibility, accelerating project timelines, and lowering future development costs. The transaction includes the 40,000 barrel-per-day Badami facility, the 80,000 barrel-per-day Nutaaq Pipeline, and approximately 104,000 gross acres, adding 1,500 barrels of oil per day of production.
Key Highlights
- APA Corp to acquire Savant Alaska, LLC for $70 million upfront, plus contingent payments.
- Acquisition includes 40,000 bpd Badami facility and 80,000 bpd Nutaaq Pipeline.
- Adds approximately 104,000 gross acres and 1,500 bpd production from Badami and Grey Owl units.
- Total eastern North Slope position for APA Corp will be approximately 487,000 gross acres.
- Infrastructure expected to support 2026-2027 exploration and appraisal activities.
- Plans a two-well drilling program in 2026-2027 winter season.
- Transaction expected to close by year-end 2026, subject to regulatory approval.
Price Impact
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