APA · 10-Q · 2026Q2 · Full report
Acquisition / Partnership / Divestiture
APA Corp · 2026-08-06 · Importance 53 · Surprise 60 · In source text
APA agreed in the second quarter of 2026 to acquire Savant Alaska, LLC for approximately $70 million of upfront consideration plus contingent future-development payments. The transaction is expected to close by year-end 2026 and would add approximately 104,000 gross acres, infrastructure supporting 2026–2027 exploration and appraisal, and approximately 1,500 barrels per day of oil production. APA also signed an agreement with Eni S.p.A. for offshore Uruguay Block 6, retaining a 60% working interest while Eni funds most of the initial exploration well planned for 2027. The company’s production and expense results also reflect prior sales of non-core U.S. assets, which reduced volumes and operating costs.
Key facts
- During Q2 2026, the Company entered into an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront consideration, plus contingent payments; upon closing the transaction is expected to add approximately 104,000 gross acres and approximately 1,500 b/d of oil production and is expected to close by year-end 2026. source
- During the six months ended June 30, 2026, the Company completed leasehold acquisitions primarily in the Permian Basin for aggregate cash consideration of approximately $ (amount redacted) million (and similarly for the second quarter). source
- The Government of Egypt awarded the Company a five-year extension covering approximately 3.4 million acres of exploration acreage, and approximately 400,000 acres of non-prospective acreage was not renewed. source
- In Uruguay, the Company signed an agreement with Eni S.p.A. as a strategic partner in offshore Block 6 in which the Company will retain a 60 percent working interest and Eni will fund most of the initial exploration well planned for 2027. source
- Leasehold and property acquisitions cash consideration totaled $6 million during the first six months of 2026 and $20 million during the first six months of 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | probable | -0.2% | During Q2 2026, the Company entered into an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront… |
| assets | positive | probable | +0.2% | During Q2 2026, the Company entered into an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront… |
| revenue | positive | probable | — | During Q2 2026, the Company entered into an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront… |
| cash | negative | realized | — | During the six months ended June 30, 2026, the Company completed leasehold acquisitions primarily in the Permian Basin for aggregate cash… |
| assets | positive | realized | — | During the six months ended June 30, 2026, the Company completed leasehold acquisitions primarily in the Permian Basin for aggregate cash… |
| assets | positive | committed | — | The Government of Egypt awarded the Company a five-year extension covering approximately 3.4 million acres of exploration acreage, and… |
| cash | positive | committed | — | In Uruguay, the Company signed an agreement with Eni S.p.A. as a strategic partner in offshore Block 6 in which the Company will retain a… |