Oil producer APA boosts pipeline, oilfield assets with Savant Alaska buy
Oil producer APA boosts pipeline, oilfield assets with Savant Alaska buy 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.
(Reporting by Varun Sahay in Bengaluru; Editing by Shilpi Majumdar)
((Varun.Sahay@thomsonreuters.com;))
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