This Oil Stock Is Following Leaders ExxonMobil and Occidental Petroleum by Making a Major Acquisition

The merger wave in the oil patch is continuing in 2024. The latest deal will see APA Corporation (APA -7.35%) acquire fellow oil company Callon Petroleum (CPE 2.88%). That acquisition will enhance APA's scale in the resource-rich Permian Basin. The deal follows the blueprint of leaders ExxonMobil (XOM -0.87%) and Occidental Petroleum (OXY -2.46%), which have made large deals in that same region. Here's a look at the latest oil stock merger and what it means for investors.Drilling down into the dealAPA Corpo ...