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APA to sell New Mexico Permian assets to Permian Resources for $608m

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APA to sell New Mexico Permian assets to Permian Resources for 8m


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.

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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.

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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.

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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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New Mexico

Summerlike heat settles into New Mexico this week

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Summerlike heat settles into New Mexico this week


Grant’s Monday Night Forecast

Temperatures will heat up across New Mexico through Tuesday, with near-record highs possible in parts of the state. Highs cool slightly starting Wednesday, with a few spotty showers possible later this week.

High pressure is building toward New Mexico to start the week, bringing hotter temperatures statewide. The center of that high will move over the state Tuesday, making it the hottest day of the week. Highs will climb into the 80s and 90s for most areas, with several spots coming within a few degrees of tying or breaking daily record highs.

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The high starts to weaken Wednesday, but temperatures will only cool by a few degrees. Moisture will also begin streaming into New Mexico, bringing more cloud cover and a chance for a few spotty showers or areas of evaporating rain, mainly across northern New Mexico. By Thursday, that spotty rain chance shifts into eastern New Mexico.

Temperatures will stay above average to well above average through the end of the week and into the weekend, with most highs remaining in the 80s and 90s. Afternoon breezes will also stick around most days over the next week.



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New Mexico

Four New Mexico companies nominated for ‘Best Hot Air Balloon Ride’ by USA Today

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Four New Mexico companies nominated for ‘Best Hot Air Balloon Ride’ by USA Today


NEW MEXICO (KRQE) — Four companies in New Mexico have been nominated for USA Today’s “Best Hot Air Balloon Ride” list for 2026. Voting is open now through June 1.

Here’s a look at the New Mexico nominees:

  • Four Corners Balloon Rides (Albuquerque)
    • “Four Corners Balloon Rides will get you soaring above Albuquerque in a hot air balloon. They fly smaller balloons with a capacity of up to 12 passengers, and you can opt between shared flights or a private charter, with flights running for about 45 minutes to an hour. You’ll see beautiful views of the Rio Grande Valley, the Sandia Mountains, and all of Albuquerque some 2,000 feet below you. The pilot, Daniel, has over 3,000 hours of flight time, so you’re ensured to be in good, safe hands. 
  • Rainbow Ryders (Albuquerque)
    • “As home to the International Balloon Fiesta, Albuquerque is one of the world’s most popular spots for hot air ballooning. Rainbow Ryders offers daily flights throughout the year, which have you floating above the high desert landscape of New Mexico, as well as the Phoenix-Scottsdale area. The company is also the official hot air balloon ride operator at the Albuquerque International Balloon Fiesta.
  • World Balloon (Albuquerque)
    • “World Balloon in Albuquerque, New Mexico, offers both group and private hot air balloon flights throughout the year. On flights that usually last an hour, passengers can enjoy unmatched views of the Rio Grande River and Bosque or watch the sunrise over the city.”
  • X-Treme-Lee Fun Balloon Adventures (Gallup)
    • “X-Treme-Lee Fun Balloon Adventures provides a beautiful sunrise hot air balloon tour near Gallup, New Mexico. On journeys that typically last about an hour, passengers can enjoy views of scenic Red Rock Park’s canyons and spires.”

A total of 20 companies were nominated overall. Multiple companies in neighboring states were also nominated. Those include Above It All in Aspen, Colorado, Adventures Out West in Colorado Springs, Firebird Balloons in Phoenix, Grand Adventure Balloon Tours in Winter Park, Colorado, Hot Air Expeditions in Phoenix, and Red Rock Balloons in Sedona, Arizona.

The winner will be determined by readers’ votes. You can vote online.

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Future of free childcare for all families in New Mexico remains uncertain

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Future of free childcare for all families in New Mexico remains uncertain


Gov. Michelle Lujan Grisham has no regrets about universal childcare.

As she approaches the end of her second term in New Mexico’s top office, she acknowledges there are some things she would have done differently. In a recent interview, she called 20/20 hindsight a “very powerful tool” that not enough politicians put to good use.

Moving the state toward a free childcare system — open to all New Mexico families regardless of income — isn’t on that list, however. The issue has turned into one of the defining public policy issues of Lujan Grisham’s tenure — which will come to an end later this year. The state’s heavily Democratic Legislature, initially wary of the program, has since voiced support and created a funding stream to continue the initiative for the next five years.

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‘You have to start there’

Childcare costs, benefits

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‘We have to get it right’

GOP might ‘peel back’ scope

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