Offshore staff
HOUSTON – Apache Corp. will form a new holding company, APA Corp., trading on the Nasdaq stock exchange.
APA will acquire the Suriname and Dominican Republic subsidiaries from Apache.
Apache will become a direct subsidiary of APA, and will continue to hold its existing oil and gas assets in the US, subsidiaries in Egypt and the UK, where it operates the Forties and Beryl areas of the central North Sea.
CEO and President John J. Christmann IV said: “A holding company offers advantages in risk management, provides financial and administrative flexibility, and more closely aligns our legal structure with our growing international presence.”
The restructuring should be completed during the first half of this year.
01/05/2021
