On June 10, APA Corporation rose 5.05% in regular trading, trading at $38.46/share, with trading volume of $62.28 million. The rebound follows the company's announcement of a strategic acquisition that strengthens its Alaska portfolio.

APA disclosed an agreement to acquire Savant Alaska, LLC for approximately $70 million in upfront consideration, plus contingent payments tied to the future development of APA's eastern North Slope position. The acquisition includes the Badami facility with nameplate capacity of approximately 40,000 barrels of oil per day and the Nutaaq Pipeline with a capacity of roughly 80,000 barrels of oil per day. Following the transaction, APA's Alaska eastern North Slope position will total approximately 487,000 gross acres. The deal is expected to close by year-end, after which the company plans to issue updated guidance.

Within the Oil & Gas Exploration & Production sector, stocks broadly strengthened. Devon up 6.98%, ConocoPhillips up 3.81%, EOG Resources up 3.48%, Diamondback up 2.89%, Canadian Natural Resources up 2.52%.

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