What’s going on with Egypt? Is it on the market?
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Depends on the math, better to have that Free Cash flow? or get the money to pay debt & Suriname development?
Someone would buy selected assets. Probably Egypt now and Suriname in a few years. No one would buy the company because of the GOM and NS liabilities offset what little value it has
Why would anyone buy assets from APA.
Impacted employees
Sinopec has green backs it wants to offload quickly. JC is in the short game and is keen to monetize. Remember North Sea shuts in permanently in 19 months.. And Suriname will be making cash calls….Dont be surprised if right of first refusal is initiated or a large State sponsored oil company buys partial working interest like in Guyana
Source?
Apache forward plan:
2026 to 2027 simplify operations Divest Egypt, Permian reduce/increase rigs dependent on commodity price. Reduce and simplify facilities for the short term. Try to market Uruguay and Alaska
2027 to 2028 Divest a portion of APA Gran Morgu. Possible Permian spinoff.
2028 return North Sea and GoA offshore assets to BP and XOM. Pull a Reverse Fieldwood and only keep onshore assets. offload 4 Billion in P&A liabilities to BP and XOM
Yes. It’s had several prospective buyers contacted in an off market arrangement. There is no official data room available as a potential suitor is allegedly a private organization that is regionally experienced.