APA Corporation Names New VP Corporate Development

Effective June 12, APA Corporation has appointed Scott Grandt as Senior Vice President, Corporate Development.

Grandt will lead APA’s corporate development team and will have global oversight over the identification, assessment, and execution of potential transaction opportunities, the company said in its statement.

"I am pleased to welcome Scott to our leadership team," said Stephen J. Riney, APA’s chief financial officer and executive vice president.

“He brings a diverse background in mergers and acquisitions, capital raising, investor relations and corporate planning and will be a great complement to our executive team”.

Grandt joins APA from Goldman Sachs & Co., where he served as managing director, Investment Banking, focusing on executing strategic and financial transactions for corporate clients and financial sponsors. Before that, he was with Alta Mesa Resources leading the finance and investor relations function. He began his career at Citigroup, where he held various roles of increasing responsibility.

Furthermore, Apache Corporation, part of the APA Corporation, announced that it has suspended new drilling operations in the United Kingdom, starting June 2023.

Apache said it 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, the company outlined.

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

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

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