10:39 AM EDT, 04/01/2024 (MT Newswires) -- APA (APA) said Monday it has completed its acquisition of Callon Petroleum ( CPE ) .

Shareholders of both companies approved the transaction at special meetings on Wednesday.

Callon common stock was converted to APA shares at a ratio of 1.0425 shares per Callon share, resulting in approximately 70 million new APA shares issued.

The acquisition is expected to boost APA's daily production to around 500,000 barrels of oil equivalent with about two-thirds of it sourced from the Permian Basin, the company said.

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