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Apache has agreed to buy Callon Petroleum in a deal valued at $4.5 Billion. The all-stock acquisition involves 120,000 acres in New Mexico & West Texas and 500K boepd incremental production to APA.
This comes shortly after Occidental recently acquired CrownRock for $12 Billion and ExxonMobil’s recent $60 Billion acquisition of Pioneer Resources. All Permian basin-focused acquisitions.