New Mexico
APA to sell New Mexico Permian assets to Permian Resources for $608m
APA Corporation (APA) has agreed to sell its New Mexico Permian assets to Permian Resources Corporation for $608m, subject to customary closing adjustments.
The properties in question are forecasted to yield 12.4 million barrels of oil equivalent per day (boepd) for the full year 2025, with oil making up 46% of this production.
The transaction is due for completion towards the end of the second quarter (Q2).
The company plans to primarily allocate the proceeds from the sale towards reducing its debt.
APA CEO John J. Christmann IV said: “We remain committed to focusing our portfolio on core assets where we are actively investing for the long-term. The New Mexico package represents less than 5% of our Permian oil production and unconventional acreage.”
In its recent quarterly report, APA disclosed a production figure of 469,000boepd. However, when adjusted to exclude Egypt’s non-controlling interest and tax barrels, the production stood at 398,000boepd.
APA has also secured natural gas basis swap agreements for approximately two-thirds of its firm transport capacity from the Permian to the Gulf Coast, covering Q2–Q4 2025.
The company has updated its full-year 2025 guidance for income from third-party oil and gas marketing activities to $575m, factoring in these basis hedges.
APA has made strides in improving efficiencies and reducing activities, which will decrease its 2025 development capital by $150m. Additionally, a $25m cut in exploration capital is expected to safeguard free cash flow in the face of fluctuating commodity prices.
APA now anticipates total realised savings on controllable spend for 2025 to be $130m, significantly exceeding previous forecasts.
On a run-rate basis, the company has set a new target of $225m in savings by the end of the year, a substantial increase from the previously estimated range of $100m–125m.
The company reported a net income attributable to common stock of $347m, or $0.96 per diluted share. After adjustments for items affecting comparability of results, APA’s Q1 earnings were $385m, or $1.06 per diluted share.
The net cash provided by operating activities amounted to $1.1bn, with an adjusted EBITDAX (earnings before interest, depreciation, amortisation and exploration) of $1.5bn.
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SANTA FE, N.M. — Former New Mexico Public Regulation Commissioner Jim Ellison is running for governor as a Republican, he announced on social media Tuesday.
Ellison is running on affordability, opportunity and trust in government as the key points of his campaign. His experience includes serving on the NMPRC in 2023 and 2024.
“New Mexico deserves leadership that listens, acts, and delivers results. Our state has enormous potential, but too often that potential is held back by policies that don’t serve everyday New Mexicans,” he said on his website. “I’m running to bring practical solutions, honest accountability, and a renewed focus on the public interest.”
A Georgia native, Ellison has lived in New Mexico for 20 years and currently lives in the Albuquerque area with his wife and two children.
Ellison is aiming to get 5,000 signatures by Feb. 2, to appear on the primary ballot with at least three other Republicans who have announced their candidacy.
Ultra Health CEO Duke Rodriguez announced his campaign in December and recently confirmed to KOB 4 that he received enough signatures to appear on the primary ballot. Rio Rancho Mayor Gregg Hull and New Mexico State Sen. Steve Lanier are also running.
Three Democrats are running – Bernalillo County District Attorney Sam Bregman, Former Interior Secretary Deb Haaland and Former Las Cruces Mayor Ken Miyagishima.
ALBUQUERQUE, N.M. — A successful University of New Mexico Lobo athletics season and the athletics director’s departure has culminated in players and coaches making moves.
The moves follow a successful 2025 season and the departure of athletics director Fernando Lovo.
Running back coach John Johnson, special teams coordinator Daniel Da Prato and wide receiver coach Colin Lockett are all leaving the Lobos after just one season. Johnson is headed to Iowa State while Da Prato is expected to join Minnesota and Lockett is headed to UCLA, all for the same jobs.
Johnson’s Lobo running backs ran for more than 1,400 yards. Da Prato’s special teams finished top-five nationally in kickoff returns.
Running back D.J. McKinney entered the portal, he confirmed on social media the day the portal officially opened. McKinney rushed for 464 yards and seven touchdowns with the Lobos.
Two players who received all-Mountain West Conference recognition also made moves. All-Mountain West tight-end Dorian Thomas, who caught for touchdowns for the Lobos, entered the portal. Meanwhile, all-Mountain West honorable mention punter Daniel Hughes is set to leave.
Others set to leave include:
- Cole Welliver, backup quarterback who played in one game
- Landon Williams, defensive end who graduated from La Cueva High School
- Randolph Kpai, senior linebacker who is at the end of his college football career without a waiver
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