US listed APA Corp has agreed to acquire Savant Alaska for US$70mm, paying primarily for infrastructure rather than discovered resource ahead of developing its own Sockeye oil find and broader North Slope position. The transaction gives APA direct access to the Trans-Alaska Pipeline System (TAPS) which is the only export route for North Slope crude. The deal underlines a theme central to our 88E investment case: on the North Slope, infrastructure access is often as valuable as the resource itsel ....
