About Apache Corporation

There's more than only a patch of oil for Apache. The oil and gas exploration and production company has onshore and offshore operations in major oil patches around the world, including in North America as well as in Australia, Egypt, and the UK North Sea. In North America it is active in the Gulf of Mexico, the Gulf Coast of Texas and Louisiana, the Permian Basin in West Texas, the Anadarko Basin in Oklahoma, and Canada's Western Sedimentary Basin. In 2014 the company reported worldwide estimated proved reserves of 2.4 billion barrels of oil equivalent.

Geographic Reach

Apache has exploration and production assets in Australia, Canada, Egypt, the UK, and the US. In 2014 the US accounted for 41% of Apache’s revenues; International operations, 59%.


The company explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs).

Apache's North America Onshore segment had access to significant liquid hydrocarbons across 12 million gross acres onshore in the US and Canada, of which 60% was undeveloped. About 55% of Apache’s worldwide 2014 production and 68% of its proved reserves were onshore in the US and Canada. The onshore assets are divided into four regions: Permian, Gulf Coast, Central, and Canada. In 2014 the North America segment operated 27 onshore rigs.

The North America offshore segment has 617 blocks in the offshore waters of the Gulf of Mexico.

Sales and Marketing

Apache sells its natural gas to local distribution companies, utilities, end-users, and major oil companies. Canadian natural gas is also sold to supply aggregators and marketers (it has market hubs Alberta and Manitoba where it is sold)

The company's NGL production is sold under contracts.

Apache's major customers include Royal Dutch Shell (19% of sales) and Vitol Group.

Financial Performance

In 2014, the company’s net revenues declined by 13.7% due to discontinued operations (Argentina) and divested assets in in the Gulf of Mexico shelf, Canada, and South Texas.

That year Apache recorded a net loss of $5 billion (compared to income of $2.28 billion in 2013) due to impairment charges totaling $2.1 billion related to non-cash write-downs of goodwill and assets held for sale. In addition, deferred tax adjustments totaling $2.1 billion, and a $517 million loss on discontinued operations in Argentina also contributed to the loss.

Net cash provided by continuing operating activities in 2014 totaled $8.4 billion (down $1.2 billion from a year earlier) due to changes in working capital related to divestitures.


Apache spreads its production risks both through geographic diversification and through mixing low- and higher-risk properties in its portfolio. It is well aware that growth can not come from drilling simply more wells in its existing US mature and declining fields. With that in mind, Apache seeks domestic and international expansion through acquisitions and alliances.

With the intention of focusing its growth in North America offshore, Apache continues to pursue joint venture and other monetization opportunities for its deepwater prospects, which offer exposure to significant reserve and production potential in underexplored and oil-prone areas in water depths greater than 1,000 feet.

As part of this push,  the company raises cash to pay down debt and to reinvest in core areas. In 2015 the company sold its Australian subsidiary Apache Energy Limited to a consortium of private equity funds managed by Macquarie Corporate Holdings Limited and Brookfield Asset Management for $1.9 billion.

In 2014 it sold its Argentina operations and properties to YPF for $786 million; its Kitimat (Canada) LNG  and Wheatstone (Australia) LNG project stakes (along with accompanying upstream oil and gas reserves) to Woodside Petroleum for $2.75 billion; and certain Anadarko basin and southern Louisiana oil and gas assets for approximately $1.3 billion. It also sold dry gas producing hydrocarbon assets in the Deep Basin area of western Alberta and British Columbia, Canada, for $374 million.

Other sales included a one-third minority stake in its Egypt oil and gas business to a subsidiary of Sinopec International Petroleum Exploration and Production for $2.95 billion, and Gulf of Mexico Shelf (shallow water) operations and properties to Fieldwood Energy, an affiliate of Riverstone Holdings for $3.7 billion.

On the exploration front, in 2013 the company announced three new discovery wells in Egypt's Western Desert. Apache's discoveries, made in three separate basins, highlight the company's diverse potential for new oil and gas developments across its concessions. This exploration success extends Apache's production base to the northeast at the North Ras Qattara Concession and to the southwest in the Siwa Concession.

Mergers and Acquisitions

Substantially increasing its drilling opportunities in key focus areas in North America (including the Eagle Ford and Canyon Lime plays), in 2014 Apache completed $1.3 billion of leasehold acquisitions.

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Apache Corporation

2000 Post Oak Blvd #100
Houston, TX 77056-4400
Phone: 1 (713) 296-6000
Fax: 1 (713) 296-6483


  • Employer Type: Public
  • Stock Symbol: APA
  • Stock Exchange: NYSE
  • President and CEO: John J. Christmann
  • EVP and General Counsel: P. Anthony Lannie
  • Chairman: John E. Lowe

Major Office Locations

  • Houston, TX

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