APA Could Upgrade Three-Year Capex Guidance -- Market Talk

Dow Jones12-03

2208 GMT - There's a good chance that Australian pipeline operator APA upgrades its capex guidance, reckons Macquarie. APA has signaled some A$2.1 billion of growth-development capex over three years, excluding any M&A. Its latest project is the construction of the Brigalow Peaking Power Plant in Queensland. APA reiterated its capex guidance when announcing a deal with CS Energy for the Brigalow plant, but Macquarie sees it will be likely upgraded if progress is made in other areas. For example, Macquarie points to a potential extension of the Bulloo pipeline in Queensland, which cost around A$1 billion. It retains an outperform call on APA and A$9.23/share price target. APA ended Tuesday at A$9.18. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

December 02, 2025 17:08 ET (22:08 GMT)

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APA has signaled some A$2.1 billion of growth-development capex over three years, excluding any M&amp;A. Its latest project is the construction of the Brigalow Peaking Power Plant in Queensland. APA reiterated its capex guidance when announcing a deal with CS Energy for the Brigalow plant, but Macquarie sees it will be likely upgraded if progress is made in other areas. For example, Macquarie points to a potential extension of the Bulloo pipeline in Queensland, which cost around A$1 billion. It retains an outperform call on APA and A$9.23/share price target. APA ended Tuesday at A$9.18. 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