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About Apache Corporation

Apache Corporation, an oil and gas exploration and production company, has onshore and offshore operations in major oil patches around the world, including in the US, Egypt, and the UK's North Sea oil fields. In the US 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. The company boasts worldwide estimated proved reserves of about 1 billion barrels of oil equivalent. Most of the company's sales is generated in the US at about 45%.


Apache explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs) in the US, Egypt, and the UK.

Apache's North America Onshore segment owns significant liquid hydrocarbon deposits across more than 5 million gross acres onshore in the US, of which around 80% is undeveloped. About 60% of Apache's worldwide production and 70% of its proved reserves are onshore in the US. Apache's major North American holdings are in the Permian basin in West Texas and New Mexico and the Midcontinent/Gulf region. It also works offshore in the Gulf of Mexico.

In Egypt, Apache holds about 5.1 million acres across approximately 25 concessions in the Western Desert. Leases range from four to 24 years. Around 70% of its acreage is undeveloped.

Apache's North Sea operations contribute nearly 15% of total production and consists of around 15% of total proved reserves.

The company's oil business generates about 85% of the total sales while gas and natural gas liquids account the remaining.

Geographic Reach

Headquartered in Houston, Texas, Apache has exploration and production assets in the US, Egypt, and the UK. The US generates about 45% of sales while Egypt accounts for about 35% each of total company revenue. The UK bring in some 20% revenue.

Sales and Marketing

Apache sells its natural gas to local distribution companies, utilities, end-users, and major oil companies.

The company's NGL production is sold under contracts.

Apache's major customers include China Petroleum & Chemical Corporation (more than 10% of sales), Egyptian General Petrol Corporation and BP (about 10% each).

Financial Performance

Revenue at Apache had been increasing in the last two years since its decline in 2016. Between 2015 and 2019, the company's revenue decreased by 3%.

Apache's revenue decreased 14% to $6.3 billion in 2019 compared to $7.3 billion in 2018.

The company reported a net loss of $3.6 billion in 2019.

Cash holdings decreased $467 to $247 million from $714 million in 2018. Operating activities provided $2.9 billion in 2019. In contrast, investment activities used some $3.4 billion in cash (mostly in additions to oil and gas property ) and a further $112 million in financing activities.


In the second quarter of 2019, Apache completed the sale of non-core, gas-weighted assets in the Woodford-SCOOP and STACK plays for aggregate cash proceeds of approximately $223 million. In the third quarter of 2019, Apache completed the sale of non-core, gas-weighted assets in the western Anadarko Basin of Oklahoma and Texas for aggregate cash proceeds of approximately $322 million and the assumption of asset retirement obligations of $49 million.

Company also completed the sale of certain other non-core producing assets, GPT assets, and leasehold acreage, primarily in the Permian region, in multiple transactions for total cash proceeds of $73 million.

Apache Corporation

2000 Post Oak Blvd Ste 10
Houston, TX 77056-4499
Phone: 1 (713) 296-6000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: APA
Stock Exchange: , NASDAQ
President and CEO: John J. Christmann
Chairman: John E. Lowe
EVP Operations Support: Timothy J. Sullivan
Employees (This Location): 507
Employees (All Locations): 3,163

Major Office Locations

Houston, TX

Other Locations

Phoenix, AZ
Huntington Park, CA
Cameron, LA
Erath, LA
Golden Meadow, LA
Houma, LA
Plain Dealing, LA
Eunice, NM
Chickasha, OK
Elk City, OK
Woodward, OK
Andrews, TX
Bay City, TX
Big Spring, TX
Crane, TX
El Campo, TX
Houston, TX
Lubbock, TX
Mertzon, TX
Midland, TX
Pearland, TX
Perryton, TX
San Antonio, TX
Sundown, TX
Welch, TX
Wink, TX