APA Shares Gain on  Recovery of $900 Million in Egypt Oil Costs With Sinopec 

APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North African nation. APA was the day’s best performer in the S&P 500 Index.

APA and Sinopec will collect the “backlogged costs” over a five-year period that began on April 1, the Houston-based explorer formerly known as Apache said in a statement on Monday.