APA names president and CFO

Offshore staff

HOUSTON — APA Corp. has promoted Stephen J. Riney to president and CFO.

Riney has served as executive vice president and CFO since joining APA in 2015.

Prior to joining APA, Riney was the CFO for bp exploration and production and oversaw all accounting, business development, planning and commercial operations for the upstream segment. During his 16 years at bp, he also served as the global head of mergers and acquisitions and held several management positions in treasury and within the upstream segment including finance, operations and planning.

Before the 1999 merger with bp, Riney spent eight years with Amoco in various roles in upstream finance, petrochemicals mergers and acquisitions, corporate planning and downstream marketing.

Company updates

Last week APA and Callon Petroleum entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at about $4.5 billion, inclusive of Callon’s net debt. The transaction has been unanimously approved by the boards of directors of both APA and Callon and is expected to close during second-quarter 2024.

APA owns consolidated subsidiaries that explore for and produce oil and natural gas in the US, Egypt and the UK and that explore for oil and natural gas offshore Suriname.

During second-half 2023, APA and partner TotalEnergies started development studies for the deepwater Sapakara South and Krabdagu oil field discoveries offshore Suriname in Block 58. Read more. 

And in early 2023, APA joined the Oil and Gas Methane Partnership 2.0 (OGMP 2.0). The OGMP 2.0 is a measurement-based reporting framework for the oil and gas industry that is designed to improve the accuracy and transparency of methane emissions reporting in the oil and gas sector.

01.10.2024