APA provides pro forma financials for Callon acquisition, combined 2023 revenue $10.6B, EPS $10.63

APA Corp

Completed merger with Callon on Apr 1, 2024; Callon shareholders received 1.0425 APA shares/share, total consideration ~$2.44B.
Pro forma combined 2023 revenue $10.58B, net income $4.02B, diluted EPS $10.63.
Nonrecurring transaction costs of $114M; APA issued new $1.5B term loan at ~7.1% interest.
Purchase price allocation: oil & gas properties fair value $4.5B, total assets acquired $5.37B, liabilities assumed $2.93B.
Pro forma basic shares outstanding 377M, reflecting 69M APA shares issued as consideration.

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