M&A - APA Corp

Form Type: DEF 14A

Filing Date: 2025-04-10

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525077464

Filing Summary: In 2024, APA Corporation successfully completed the acquisition of Callon Petroleum Company as part of a strategic effort to consolidate its operations in the Permian Basin. The company divested its mature conventional Permian assets, resulting in a sharper focus on unconventional assets. The annual meeting of shareholders is scheduled for May 22, 2025, where shareholders will vote on the election of eleven directors, the ratification of Ernst & Young LLP as the independent auditor, and an advisory vote on executive compensation. In 2024, the company also reported a return of 71% of free cash flow to shareholders, which included $246 million in stock repurchases and $353 million in dividends. The company's operational output reached approximately 455,000 barrels of oil equivalent per day, exceeding guidance. Furthermore, APA engaged extensively with shareholders regarding executive compensation and governance issues, leading to improved transparency in the proxy statement. The company is poised for continued growth with exploration activities in Alaska and Uruguay, as well as ongoing projects in Suriname expected to bring in production by 2028.

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