US-based independent energy company APA has signed an agreement to acquire Savant Alaska for an upfront payment of around $70m, with additional contingent payments linked to the future development of APA’s assets on Alaska’s eastern North Slope.
The transaction is expected to close by the end of 2026, subject to regulatory approval and customary conditions.
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The deal includes ownership of the Badami facility, which has a production capacity of approximately 40,000 barrels of oil per day (bopd), as well as supporting field infrastructure.
APA will also acquire the Nutaaq Pipeline, which can transport around 80,000bopd and links Badami to the Trans-Alaska Pipeline System.
The acquisition also brings approximately 104,000 gross acres and production of roughly 1,500bopd through interests in the Badami and Grey Owl units.
APA stated that its newly acquired infrastructure sits next to its current acreage and is expected to support exploration and appraisal work planned for 2026 and 2027.
The company anticipates that owning these midstream and field assets will help accelerate project timelines, provide development flexibility and reduce future costs for its North Slope operations.
APA CEO John Christmann IV said: “The acquisition of Savant secures control of strategic infrastructure adjacent to our eastern North Slope acreage, enhancing our ability to execute our planned drilling programme efficiently.
“As we continue to appraise and de-risk our resource base, ownership of this infrastructure provides greater flexibility and optionality in future development planning and represents a key step toward unlocking the potential of our position in Alaska.”
Infrastructure assets included in the transaction, such as accommodation facilities, a grind-and-inject system and barge landing, are set to support activities, beginning with the 2026–27 winter drilling season.
APA has taken over operatorship of the joint venture with Lagniappe Alaska and Oil Search (Alaska) and plans a two-well programme in that season: one exploration well testing a new play in the western acreage and one appraisal well at the Sockeye complex.
The transaction adds approximately 17,000 net acres in the Badami unit and around 75,000 net acres in the Grey Owl unit, along with further non-unitised acreage near Badami.
Following the deal, APA’s position on Alaska’s eastern North Slope will be around 487,000 gross acres. The company stated that it will provide updated guidance after the transaction closes.
In May 2025, APA agreed to sell its New Mexico Permian assets to Permian Resources Corporation for $608m, subject to customary closing adjustments.
