APA Corp. (APA), an oil and natural gas company, Thursday announced that it has entered into a definitive agreement to acquire Callon Petroleum Co. (CPE) in an all-stock transaction valued at around $4.
APA Corporation will acquire Callon Petroleum Company in a significant all-stock deal valued at around $4.5 billion, marking the latest in a series of consolidations in the U.S. shale oil sector.
US energy company APA Corporation has agreed to buy competitor Callon Petroleum in a transaction valued around $4.5 billion including debt, the firms announced Thursday, marking the latest deal in the sector.The transaction comes after several high-profile agreements in the energy industry, such as ExxonMobil's megadeal to acquire Pioneer Natural Resources for about $60 billion and Chevron's $53 billion acquisition of Hess.
Complements and enhances APA’s asset base in the Permian Basin; expected to be accretive to key financial metrics;Adds to APA’s high-quality, short-cycle.