Apache Corporation is an independent oil and gas corporation, based in Houston, Texas, USA.
The company focuses on the exploration, development, and production of natural gas, crude oil, and natural gas liquids.
It has production and exploration activities in the US, Canada, Egypt, Australia, the UK, and Argentina.
Apache operated an average of 91 rigs around the world and produced 277.7 million barrels of oil equivalent in 2013, which ranked it as the Number one growth generator in the Permian and Anadarko basins.
The Apache Oil Corporation was founded in 1954 by Truman Anderson, Raymond Plank and Charles Arnao, in Minneapolis, Minnesota. In 1969 Apache Corporation listed shares on the New York Stock Exchange under the stock ticker symbol ‘APA’.
Apache Corporation’s mission is “to grow a profitable global exploration and production company in a safe and environmentally responsible manner for the long-term benefit of our shareholders.”
Overview
- CEO and President: John J. Christmann
- Industry: Oil/Gas
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: APA
- S&P 500 Component
- Revenue: $13,851 billion USD (2014)
- Net income: $(5,403) million USD (2014)
- Diluted earnings per share: $(14.06) USD (2014)
- Company head office: One Post Oak Central, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, USA
- Employees: 4,950 (2014)
- Website: http://www.apachecorp.com/
- Investor relations contact number: (713) 296-6472
- Most active driller in the United States, Egypt, and the United Kingdom’s North Sea
Apache Corporation Financial Results, Years Ended December 31
| Revenue (in $ millions) | 2014 | 2013 |
| Oil revenues | $10,752 | $12,632 |
| Gas revenues | $2,329 | $2,627 |
| Natural gas liquids revenues | $668 | $652 |
| Derivative instrument gains (losses), net | $284 | $(399) |
| Other revenues | $(182) | $48 |
| – Total revenues | $13,851 | $15,560 |
| Expenses (in $ millions) | ||
| Depreciation, depletion, and amortization, recurring | $4,747 | $4,894 |
| Depreciation, depletion, and amortization, additional | $5,001 | $995 |
| Depreciation, depletion, and amortization, other assets | $410 | $400 |
| Asset retirement obligation accretion | $181 | $238 |
| Lease operating expenses | $2,479 | $2,864 |
| Gathering and transportation | $273 | $288 |
| Taxes and other income | $678 | $785 |
| General and administrative | $434 | $482 |
| Acquisitions, divestitures and transition | $67 | $33 |
| Financing costs, net | $130 | $177 |
| – Total expenses | $16,757 | $11,156 |
| Income (in $ millions) | ||
| Net income from continuing operations before income taxes | $(2,906) | $4,404 |
| Net income including non-controlling interest | $(5,060) | $2,288 |
| Net income attributable to common stock | $(5,403) | $2,188 |
| Balance sheet data (in $ millions) | ||
| Total assets | $55,952 | $61,637 |
| Total liabilities | $12,906 | $11,872 |
| Apache shareholders’ equity | $25,937 | $33,396 |
| Total equity | $28,137 | $35,393 |
| Common share data (in $) | ||
| Basic earnings per share | $(14.06) | $5.53 |
| Diluted earnings per share | $(14.06) | $5.50 |
| Cash flow data (in $ millions) | ||
| Cash provided by operating activities | $8,461 | $9,835 |
| Cash used in investing activities | $(8,804) | $(7,116) |
| Cash provided by (used in) financing activities | $(794) | $(973) |
| Cash and cash equivalents at beginning of year | $1,906 | $160 |
| Cash and cash equivalents at end of year | $769 | $1,906 |
Source: “Apache Corporation Form 10-K 2014”