In June 2023, Apache suspended new drilling in the U.K. The company will manage its base production and maximize the economic recovery of its oil and gas wells through well intervention activities. Apache allocates capital based on the best potential returns, and North Sea assets have become the least competitive in its global portfolio.

This business decision was made in response to the U.K.’s increasingly costly and burdensome tax regime and uncertain policy environment.

Apache remains committed to conducting safe operations, driving ever cleaner production and meeting regulatory requirements while efficiently operating our late-life assets to create value for our stakeholders.

About APA

APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and in the Dominican Republic. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.