APA Corporation - APA STOCK NEWS

Apache Corporation (Nasdaq: APA) provided supplemental information about its third-quarter 2020 results. Key estimates include:

• Average Realized Prices: U.S. Oil at $40.00/bbl, NGL at $13.00/bbl, Natural Gas at $1.40/Mcf.
• International Oil at $42.00/bbl, NGL at $27.00/bbl, Natural Gas at $2.80/Mcf.
• Realized loss on commodity derivatives (before tax): $83 million.
• Unrealized loss on commodity derivatives (before tax): $91 million.

Additionally, dry hole costs are estimated at $5-10 million before tax. The earnings call is scheduled for Nov. 5, 2020.

Apache Corporation (Nasdaq: APA) has declared a regular cash dividend of 2.5 cents per share on its common stock, payable on November 23, 2020. Stockholders of record as of October 22, 2020 will receive this dividend. This announcement signifies Apache's commitment to returning value to its shareholders despite current market conditions. The company operates in oil and gas exploration and production across the United States, Egypt, and the UK, with additional offshore exploration activities in Suriname.

Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) have updated their findings from the Kwaskwasi-1 discovery well offshore Suriname, which revealed hydrocarbons in multiple stacked targets. The well encountered 278 meters of net oil and gas pay, with the Campanian interval containing 63 meters of net oil pay. The Santonian interval showed 129 meters of net pay. The Noble Sam Croft drillship is now drilling the Keskesi East-1 exploration well, which is located 14 kilometers southeast of the Sapakara West-1 well. Apache holds a 50% working interest in Block 58.

Apache Corporation (Nasdaq: APA) has amended its cash tender offers to purchase various series of Notes, increasing the maximum purchase price from $460 million to $638.2 million. The company will accept all Notes tendered by the August 14, 2020, deadline. The Offers include a total of $1.25 billion in new debt financing, facilitating the transaction. The early settlement date for accepted Notes is expected on August 18, 2020. The Offers will expire on August 28, 2020, and the company will not accept further tenders beyond the early deadline due to the maximum purchase price already being reached.

Apache Corporation (NASDAQ: APA) has priced $1.25 billion in notes, comprising $500 million in 4.625% notes due 2025 and $750 million in 4.875% notes due 2027. The offering aims to use proceeds for cash tender offers on senior indebtedness, repaying borrowings under its revolving credit, and for general purposes. Expected net proceeds, after discounts, are approximately $1.237 billion. The offering is set to close on August 17, 2020, pending customary conditions.

Apache Corporation (NASDAQ: APA) has initiated tender offers to buy up to $460 million of its outstanding notes. The offer is structured across seven series of notes, with varying principal amounts and acceptance priority levels. A key condition for these purchases requires Apache to secure at least $1 billion in new debt financing. The offers are set to expire on August 28, 2020, with an early tender deadline on August 14, 2020, providing an early tender premium for participants. This initiative reflects Apache's strategic approach to managing its debt portfolio.

Apache Corporation (Nasdaq: APA) announced its second-quarter 2020 results, accessible on its website. A conference call to discuss the results is scheduled for July 30 at 10 a.m. Central time, available via webcast and replay. Apache is engaged in oil and gas exploration and production across the U.S., Egypt, and the U.K., with offshore exploration in Suriname. The company provides updates and press releases on its website.

Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) announced a significant oil discovery at the Kwaskwasi-1 well offshore Suriname in Block 58. The well encountered 278 meters (912 feet) of net oil and volatile oil/gas condensate pay. With the well drilled to approximately 6,645 meters (21,800 feet), the preliminary results indicate high-quality reservoirs, enhancing the prospect of accelerated production. Following Kwaskwasi-1, the Keskesi East-1 well will be drilled, potentially unlocking further resources within the 1.4 million acres of Block 58.

Apache Corporation (Nasdaq: APA) has launched the application season for its 2020-2021 Tree Grant Program, now in its 15th year. Since 2005, the program has supplied over 4.7 million trees across 17 states. In the previous year, it donated more than 61,000 trees to 54 nonprofits, including local parks departments. The initiative aims to enrich the environment by promoting tree planting and requires nonprofit participants to plant or distribute at least 50 trees by May 15, 2021. For further details and applications, visit apachelovestrees.com by August 21, 2020.