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APA Reports Sale Of Non-Core Producing Properties In The Permian Basin To An Undisclosed Buyer For $950M

Author: Benzinga Newsdesk | September 10, 2024 04:52pm

The properties are located in the Central Basin Platform, Texas and New Mexico Shelf, and Northwest Shelf and currently represent estimated net production of 21,000 barrels of oil equivalent per day (boe/d), of which approximately 57% is oil.

Proceeds from this sale will be used primarily to reduce debt. The effective date of the transaction is July 1, 2024, and the transaction is expected to close during the fourth-quarter 2024.

Posted In: APA


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