APA, a company engaged in hydrocarbon exploration, completed the acquisition of Callon Petroleum, an independent oil and natural gas company, for $4.5bn. "This transaction is aligned with APA's overall portfolio strategy and fits all the criteria of our disciplined approach to evaluating external growth opportunities. Callon has built a strong portfolio in the Permian Basin that is complementary to our existing Permian assets and rounds out our opportunity set in the Delaware," John J. Christmann IV, APA CEO and President.