Houston-based-APA Corp., holding company for Apache Corp., said Monday it signed an agreement to sell mineral rights in Delaware Basin for $850 million. The deal is expected to close this month and reduce its 2022 production by 7,000 boed (44 percent oil). The assets cover about 70,000 net royalty acreage primarily in Reeves, Pecos and Loving counties. Operators include Apache, Chevron, ConocoPhillips, Devon, Diamondback and Occidental.
The previously announced combination of Altus Midstream and BCP Raptor Holdco, parent company of EagleClaw Midstream, also is scheduled to close this month. Together proceeds from these transactions would make more than $1 billion available for debt reduction, share repurchase and other corporate purposes.