Oil producer APA boosts pipeline, oilfield assets with Savant Alaska buy

APA Corporation

APA Corporation

APA

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June 10 (Reuters) - Oil producer APA APA.O said on Wednesday it has agreed to acquire Savant Alaska for about $70 million, gaining access to oil and pipeline infrastructure near eastern North Slope acreage in Alaska.

Here are some details:

  • The deal includes the Badami facilities, which have production capacity of about 40,000 barrels of oil per day.

  • APA is also acquiring the Nutaaq Pipeline, which has capacity of about 80,000 barrels of oil per day originating at Badami and providing access to the Trans-Alaska Pipeline System.

  • The acquired infrastructure is expected to support 2026-2027 exploration and appraisal activities, as well as enhance future drilling and development plans in the region.

  • APA plans to drill one exploration well and one appraisal well during the 2026-2027 winter season.

  • After the acquisition, APA's eastern North Slope position will total about 487,000 gross acres.

  • The company expects to close the transaction by the end of 2026.


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