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, in North America as well as in Argentina, 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 2012 the company reported worldwide estimated proved reserves of 2.85 billion barrels of oil equivalent.

Geographic Reach

Apache has exploration and production assets in Argentina, Australia, Canada, Egypt, the UK, and the US. In 2012 the US accounted for 36% of Apache’s revenues; International operations, 55%.


The company explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). In 2012 Apache participated in drilling 1,486 gross wells, with 1,408 (95%) completed as producers.

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. Apache's major customers include Royal Dutch Shell (20% of 2012 revenues) and Vitol Group.

Financial Performance

The company's revenues grew by 1% in 2012 due to higher crude oil revenues (up 4% due to higher prices and production). Crude oil represented 78% of 2012 oil and gas production revenues (up 3% over 2011).  Natural gas revenues for 2012 were down, the result of a 13% price decline (thanks to the abundance of supply from North American shale plays) partially offset by a 1% rise in production volumes.

The company reported $2 billion in net income in 2012, 56% lower than the previous year due to essentially flat revenues and higher operating expenses.


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.

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.

On the midstream side of the business, in 2013 the company signed long-term sales and purchase agreements with Chubu Electric for liquefied natural gas (LNG) from the Chevron-operated Wheatstone Project in Western Australia. The Wheatstone project will supply Chubu Electric with 1 million metric tons of LNG per year for up to 20 years.

In another Chevron deal, in 2012 Apache and Chevron agreed to build and operate the Kitimat LNG project and develop natural gas resources at the Liard and Horn River basins in British Columbia, Canada. Chevron Canada will assume operatorship of the LNG plant and related pipeline.

To raise cash to help pay for its expansion strategy, in 2013 Apache sold its Gulf of Mexico Shelf operations and properties to Fieldwood Energy LLC, an affiliate of Riverstone Holdings, for $3.75 billion.

Mergers and Acquisitions

The company grew its North Sea assets in 2012, buying Exxon Mobil's Beryl Field and related properties for about $1.75 billion.

Growing its unconventional assets in the US, that year the company acquired Cordillera Energy Partners for $2.85 billion. The privately held company owned 254,000 net acres of tight sand plays in Oklahoma and Texas. In 2012 Apache also bought 49% of Burrup Holdings, an ammonia fertilizer plant in Western Australia, for $439 million. The deal with one of the world's largest ammonia plants secures a long-term market for Apache's natural gas production in the region.

- Show Less + Show Full Description

Company News and Press Releases

- Show Less + Show More News and Press Releases


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, CEO, and Director: John J. Christmann
  • Chairman: G. Steven Farris
  • Chairman: John E. Lowe

Major Office Locations

  • Houston, TX

Become a Vault Basic Member

Complete your Vault Profile and get seen by top employers