Canada markets close in 4 hours 31 minutes

Apache Corporation (APA)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
10.81-0.29 (-2.61%)
As of 11:29AM EDT. Market open.
Full screen
Loading interactive chart...
  • GlobeNewswire

    Apache Declares Cash Dividend on Common Shares

    HOUSTON, Sept. 16, 2020 (GLOBE NEWSWIRE) -- The board of directors of Apache Corporation (Nasdaq: APA) has declared a regular cash dividend on the company's common shares.The dividend on common shares is payable Nov. 23, 2020, to stockholders of record on Oct. 22, 2020, at a rate of 2.5 cents per share on the corporation’s common stock.  About Apache Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apachecorp.com.Contacts   Media:(713) 296-7276  Phil West Investor:(281) 302-2286  Gary Clark    Website:  www.apachecorp.com     APA-F

  • GlobeNewswire

    Apache Corporation Provides Update on Kwaskwasi-1 Discovery Well in Block 58 Offshore Suriname; Operations Commenced at Next Exploration Location, Keskesi

    HOUSTON, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) today provided an update to the technical evaluation of the Kwaskwasi-1 discovery well offshore Suriname. As previously announced, Kwaskwasi-1 discovered hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals. The well encountered 278 meters (912 feet) of net oil and volatile oil/gas condensate pay. The shallower Campanian interval contains 63 meters (207 feet) of net oil pay and 86 meters (282 feet) of net volatile oil/gas condensate pay. The Santonian interval contains 129 meters (423 feet) of net pay. Fluid samples from the Campanian validated the presence of oil with API gravities between 34 and 43 degrees.Since the discovery announcement on July 29, 2020, the Noble Sam Croft drillship has gathered reservoir and other technical data in the Santonian. The company was able to successfully retrieve rotary sidewall cores but was unable to collect representative fluid samples from the reservoir due to conditions caused by cementing operations, which were required to mitigate increased pressure below the base of the Santonian formation. Hydrocarbon shows were observed in the Santonian reservoirs, and the results of the formation evaluation indicate the presence of oil.The Noble Sam Croft has commenced operations at the Keskesi East-1 exploration well approximately 14 kilometers (9 miles) southeast of Sapakara West-1. The Keskesi well will test upper Cretaceous targets in the Campanian and Santonian.Apache holds a 50% working interest in Block 58 and will continue to be the operator through the completion of the Keskesi well. Total S.A. holds the remaining 50% working interest.About ApacheApache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. Apache posts announcements, operational updates, investor information and copies of all press releases on its website, www.apachecorp.com.Forward-looking statementsThis news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations and objectives for Apache’s operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See "Risk Factors" in our 2019 Form 10-K and in our quarterly reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") for a discussion of risk factors that affect our business. Any forward-looking statement made by Apache in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Apache undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.Cautionary note to investors  The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable, and possible reserves that meet the SEC's definitions for such terms. Apache may use certain terms in this release, such as "resources," "potential resources," "resource potential," "estimated net reserves," "recoverable reserves," and other similar terms that the SEC guidelines strictly prohibit Apache from including in filings with the SEC. Such terms do not take into account the certainty of resource recovery, which is contingent on exploration success, technical improvements in drilling access, commerciality and other factors, and are therefore not indicative of expected future resource recovery and should not be relied upon. Investors are urged to consider carefully the disclosure in Apache's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2019, available from Apache at www.apachecorp.com or by writing Apache at: 2000 Post Oak Blvd., Suite 100, Houston, TX 77056 (Attn: Corporate Secretary). You can also obtain this report from the SEC by calling 1-800-SEC-0330 or from the SEC's website at www.sec.gov. ContactsInvestor:  (281) 302-2286       Gary Clark Media:     (713) 296-7276       Phil West                                     Website:  www.apachecorp.comAPA-V APA-G

  • GlobeNewswire

    Apache Corporation Announces Upsizing and Early Results of Cash Tender Offers for Senior Notes

    HOUSTON, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Apache Corporation (Nasdaq: APA) today announced that it has amended its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) to purchase a portion of its 3.625% notes due 2021, 2.625% notes due 2023, 3.250% notes due 2022, 4.250% notes due 2044, 4.750% notes due 2043, 5.100% notes due 2040, and 5.250% notes due 2042 (each series, a “Series of Notes,” and such notes, collectively, the “Notes”) made pursuant to Apache’s Offer to Purchase, dated August 3, 2020 (the “Offer to Purchase”) to increase the Aggregate Maximum Purchase Price (as defined in the Offer to Purchase) from $460,000,000 to $638,198,120 and to eliminate the Maximum Tender SubCaps (as defined in the Offer to Purchase). All other terms and conditions of the Offers set forth in the Offer to Purchase remain unchanged. As a result, Apache will accept all Notes tendered as of 5:00 p.m., New York City time, on August 14, 2020 (the “Early Tender Deadline”).According to information received from D.F. King & Co., Inc., the Tender Agent and Information Agent for the Offers, as of the Early Tender Deadline, Apache had received valid tenders from holders of Notes that were not validly withdrawn as set forth in the table below under the heading “Principal Amount Tendered.”NotesCUSIP NumbersPrincipal Amount Outstanding Prior to the OffersPrincipal Amount Tendered (All Accepted)Acceptance Priority LevelTotal Consideration(1)(2)(3) 3.625% notes due 2021037411AX3$292,587,000$109,844,0001$1,005.00 2.625% notes due 2023037411BD6$180,763,000$57,172,0002$1,000.00 3.250% notes due 2022037411AZ8$460,057,000$246,531,0003$1,020.00 4.250% notes due 2044037411BC8$706,417,000$82,208,0004$925.00 4.750% notes due 2043037411BA2$1,306,622,000$88,746,0005$965.00 5.100% notes due 2040037411AW5$1,396,531,000$53,132,0006$970.00 5.250% notes due 2042037411AY1$421,692,000$6,135,0007$970.00 (1)   Per $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase.(2)   Excludes accrued interest, which will be paid on Notes accepted for purchase as described herein.(3)   Includes the Early Tender Premium (as defined in the Offer to Purchase) for Notes validly tendered at or prior to the Early Tender Deadline (and not validly withdrawn) and accepted for purchase.Subject to the terms and conditions of the Offers, the consideration to be paid in the Offers for each Series of Notes (such consideration, the “Total Consideration”) validly tendered on or before the Early Tender Deadline and accepted for purchase by Apache includes an early tender premium of $50 per $1,000 in aggregate principal amount of Notes accepted for purchase in the Offers (the “Early Tender Premium”). In addition to the Total Consideration, holders whose Notes are accepted for purchase will also receive accrued and unpaid interest, if any, from the last interest payment date for the applicable Series of Notes up to, but not including, the Early Settlement Date (as defined below).The settlement date for the Notes validly tendered on or before the Early Tender Deadline and accepted for purchase (the “Early Settlement Date”) is expected to be August 18, 2020.The deadline for Holders to validly withdraw tenders of Notes has passed. Accordingly, Notes that were tendered at or before the Early Tender Deadline may not be withdrawn or revoked, except as required by applicable law.Each Offer will expire at 11:59 p.m., New York City time, on August 28, 2020, unless extended or earlier terminated.  However, because the aggregate purchase price of the Notes validly tendered and not validly withdrawn as of the Early Tender Deadline equals the Aggregate Maximum Purchase Price, as amended, and Apache does not intend to further increase the Aggregate Maximum Purchase Price, no Notes tendered after the Early Tender Deadline will be accepted for purchase in the Offers.Notes not accepted for purchase will be promptly credited to the account of the registered holder of such Notes with The Depository Trust Company in accordance with the Offer to Purchase.Apache’s obligation to accept for purchase, and to pay for, Notes that are validly tendered and not validly withdrawn pursuant to each Offer is conditioned on the satisfaction or waiver by Apache of a number of conditions as described in the Offer to Purchase, including the receipt by Apache of the net proceeds from the issuance of not less than $1,000,000,000 in principal amount of indebtedness in one or more debt financing transactions on terms reasonably satisfactory to Apache (the “Financing Condition”). The Financing Condition is expected to be satisfied today by the closing of its offering of $1,250,000,000 in aggregate principal amount of 4.625% notes due 2025 and 4.875% notes due 2027. Apache may amend, extend, or, subject to certain conditions and applicable law, terminate each Offer at any time in its sole discretion.J.P. Morgan, BofA Securities, and BMO Capital Markets are acting as Dealer Managers and D.F. King & Co., Inc. is acting as the Tender Agent and Information Agent for the Offers. Requests for documents may be directed to D.F. King & Co., Inc. at (800) 549-6697 or apache@dfking.com. Questions regarding the Offers may be directed to J.P. Morgan collect at (212) 834-3424 or toll-free at (866) 834-4666, BofA Securities at (980) 388-3646 or debt_advisory@bofa.com, or BMO Capital Markets collect at (212) 702-1840, toll-free at (833) 418-0762 or at LiabilityManagement@bmo.com.This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities, including in connection with the Financing Condition. The Offers to purchase the Notes were made pursuant to the terms of the Offer to Purchase.About ApacheApache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. Apache posts announcements, operational updates, investor information and press releases on its website, www.apachecorp.com.Cautionary Statements and Risk Factors That May Affect Future ResultsCertain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking statements are not guarantees of performance. Actual events or results may differ materially because of conditions in our markets or other factors. Moreover, Apache does not, nor does any other person, assume responsibility for the accuracy and completeness of those statements. Unless otherwise required by applicable securities laws, Apache disclaims any intention or obligation to update any of the forward-looking statements after the date of this release. If Apache does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under “Risk Factors” in the Offer to Purchase and under “Forward-Looking Statements and Risk” and “Risk Factors” in Apache’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020 and June 30, 2020 (each of which is incorporated by reference in the Offer to Purchase) and similar sections in any subsequent filings, which describe risks and factors that could cause results to differ materially from those projected in those forward-looking statements.Those risk factors may not be exhaustive. Apache operates in a continually changing business environment, and new risk factors emerge from time to time. Apache cannot predict these new risk factors or assess the impact, if any, of these new risk factors on Apache’s businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward-looking statements. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results.ContactsInvestor:  (281) 302-2286      Gary ClarkMedia:     (713) 296-7276      Castlen KennedyWebsite:  www.apachecorp.comAPA-F