Why Is APA Corp Stock Rising Today?
Synopsis
Repsol is reportedly considering a reverse merger of its upstream oil and gas unit with potential partners, including APA Corp.
Repsol SA is weighing a reverse merger of its upstream oil and gas unit with potential partners, including APA Corp. (APA), as part of efforts to secure a New York listing, according to a Bloomberg report on Thursday.
Shares of APA Corp. traded over 7% higher on Thursday.
The Spanish energy company has held preliminary discussions with APA and other potential partners about a possible deal. Repsol executives have previously indicated plans to prepare the upstream unit for a potential “liquidity event,” such as a public listing, in 2026.
The talks are still at an early stage, and there is no guarantee they will result in a transaction, the report added. Repsol is exploring multiple strategic options for the business, including an IPO or a partial stake sale.
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