APA Corp's PT cut by brokerage on North Sea exit plans
** Brokerage GERDES Energy Research cuts PT on oil and gas producer APA Corp's APA.O shares to $49 from $53, maintains "buy" rating
** Brokerage flags company's plans to exit North Sea by year-end 2029
** APA has related abandonment liability of ~$1.2 bln from 2025 through 2038, $50 mln associated with the exit related to maintenance/abandonment in 2025 - brokerage
** Brokerage notes Permian Basin constitutes ~65% of company's capital spending and Egypt makes up ~20%
** APA shares closed down 11% on Thursday, hitting its lowest since October 2021
** As of last close, company's shares down 38.9% YTD
Reporting by Seher Dareen in Bengaluru
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