Effective June 12, APA Corporation has appointed Scott Grandt as Senior Vice President of Corporate Development.
Grandt will lead APA’s corporate development team and have overall oversight of the identification, evaluation 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 addition to our executive team.”
Grandt joins APA from Goldman Sachs & Co., where he served as Managing Director of Investment Banking, focusing on the execution of strategic and financial transactions for corporate clients and financial sponsors. Prior to that, he was at Alta Mesa Resources leading the finance and investor relations function. He began his career at Citigroup, where he held various positions of increasing responsibility.
In addition, Apache Corporation, part of APA Corporation, announced that it has suspended new drilling operations in the United Kingdom, effective June 2023.
Apache said it will manage its base production and maximize economic recovery from its oil and gas wells through well intervention activities. Apache allocates capital based on the best potential returns, and the North Sea assets have become the least competitive in its global portfolio, the company noted.
This business decision was made in response to the UK’s increasingly expensive and burdensome tax regime and the uncertain political environment, he said.
Apache said it remains committed to conducting safe operations, driving increasingly cleaner production and meeting regulatory requirements while efficiently operating its end-of-life assets to create value for its stakeholders.
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