June 11, 2026 [APA Corporation]- APA Corporation (Nasdaq: APA) today announced an agreement to acquire Savant Alaska, LLC (“Savant”) for approximately $70 million in upfront consideration prior to customary closing adjustments, plus additional contingent payments tied to future development of APA’s eastern North Slope position.

The acquisition secures ownership of key midstream, pipeline and field infrastructure adjacent to APA’s existing acreage, and is expected to enhance development flexibility, accelerate project timelines, and lower future development costs. It also enhances APA’s ability to appraise and potentially develop discoveries across its broader eastern North Slope position.

The transaction includes the Badami facilities, which have nameplate production capacity of approximately 40,000 barrels of oil per day, along with extensive supporting infrastructure, including accommodation facilities, a grind-and-inject system, barge landing and wharf facilities, runway access, gravel resources and other field infrastructure. In addition, APA is also acquiring the Nutaaq Pipeline, which has capacity of approximately 80,000 barrels of oil per day originating at Badami and providing access to the Trans-Alaska Pipeline System.

“The acquisition of Savant secures control of strategic infrastructure adjacent to our eastern North Slope acreage, enhancing our ability to execute our planned drilling program efficiently,” said John J. Christmann IV, APA CEO. “As we continue to appraise and de-risk our resource base, ownership of this infrastructure provides greater flexibility and optionality in future development planning and represents a key step toward unlocking the potential of our position in Alaska.”

Several infrastructure assets, including accommodation facilities, the grind-and-inject system, barge landing and associated field infrastructure, are expected to support operations beginning with the 2026-2027 winter drilling season.

APA has assumed operatorship of the existing joint venture with partners Lagniappe Alaska, LLC, an Armstrong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, and plans to conduct a two-well drilling program during the 2026-2027 winter season, consisting of one exploration well and one appraisal well. The exploration well will test a new play in the western portion of the acreage. Results from the appraisal well will help define the scale of the Sockeye complex, support development planning, and assess the feasibility of utilizing existing Badami infrastructure.

In addition to the infrastructure assets, the acquisition includes approximately 17,000 net acres in the Badami unit, which currently produces approximately 1,500 barrels of oil per day and contains additional undeveloped resource potential. The transaction also includes approximately 75,000 net acres in the Grey Owl unit, and additional non-unitized acreage adjacent to Badami, providing further exploration upside. Following the acquisition, APA’s position on Alaska’s eastern North Slope will total approximately 487,000 gross acres.

The transaction is expected to close by year-end 2026, subject to regulatory approval and customary closing conditions. APA will provide updated guidance post-close.