Supplemental Guarantor Information

6 Months Ended

Jun. 30, 2017

Guarantees [Abstract]

Supplemental Guarantor Information

SUPPLEMENTAL GUARANTOR INFORMATION

In December 1999, Apache Finance Canada issued approximately $300 million of publicly-traded notes due in 2029. The notes are fully and unconditionally guaranteed by Apache. The following condensed consolidating financial statements are provided as an alternative to filing separate financial statements.

Apache Finance Canada is 100 percent owned by Apache Corporation. As such, these condensed consolidating financial statements should be read in conjunction with Apache’s consolidated financial statements and the notes thereto, of which this note is an integral part.

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 30, 2017

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations		Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	248		$	—		$	1,098		$	—	$	1,346
Equity in net income (loss) of affiliates	(34		)	(26		)	—			60		—
Other	62			8			(11		)	—		59
Gain (loss) on divestiture	34			—			(55		)	—		(21		)
	310			(18		)	1,032			60		1,384
OPERATING EXPENSES:
Lease operating expenses	79			—			293			—		372
Gathering and transportation	7			—			41			—		48
Taxes other than income	24			—			5			—		29
Exploration	54			—			54			—		108
General and administrative	91			—			15			—		106
Transaction, reorganization, and separation	4			—			—			—		4
Depreciation, depletion, and amortization	130			—			442			—		572
Asset retirement obligation accretion	5			—			32			—		37
Financing costs, net	60			6			33			—		99
	454			6			915			—		1,375
NET INCOME (LOSS) BEFORE INCOME TAXES	(144		)	(24		)	117			60		9
Provision (benefit) for income taxes	(716		)	2			110			—		(604		)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	572			(26		)	7			60		613
Net income attributable to noncontrolling interest	—			—			41			—		41
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	572		$	(26	)	$	(34	)	$	60	$	572

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Quarter Ended June 30, 2016

	Apache Corporation			Apache Finance Canada		All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations		Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	270		$	—	$	1,116		$	—	$	1,386
Equity in net income (loss) of affiliates	(76		)	6		—			70		—
Other	(22		)	9		(8		)	—		(21		)
Gain (loss) on divestiture	(1		)	—		18			—		17
	171			15		1,126			70		1,382
OPERATING EXPENSES:
Lease operating expenses	66			—		293			—		359
Gathering and transportation	10			—		42			—		52
Taxes other than income	22			—		43			—		65
Exploration	76			—		15			—		91
General and administrative	86			—		17			—		103
Transaction, reorganization, and separation	9			—		—			—		9
Depreciation, depletion, and amortization	159			—		510			—		669
Asset retirement obligation accretion	5			—		33			—		38
Impairments	61			—		112			—		173
Financing costs, net	64			7		33			—		104
	558			7		1,098			—		1,663
NET INCOME (LOSS) BEFORE INCOME TAXES	(387		)	8		28			70		(281		)
Provision (benefit) for income taxes	(143		)	2		60			—		(81		)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	(244		)	6		(32		)	70		(200		)
Net income attributable to noncontrolling interest	—			—		44			—		44
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(244	)	$	6	$	(76	)	$	70	$	(244	)

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Six Months EndedJune 30, 2017

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations			Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	532		$	—		$	2,326		$	—		$	2,858
Equity in net income (loss) of affiliates	188			(27		)	—			(161		)	—
Other	70			16			(2		)	—			84
Gain on divestitures	175			—			145			—			320
	965			(11		)	2,469			(161		)	3,262
OPERATING EXPENSES:
Lease operating expenses	160			—			548			—			708
Gathering and transportation	14			—			91			—			105
Taxes other than income	47			—			24			—			71
Exploration	82			—			118			—			200
General and administrative	181			—			28			—			209
Transaction, reorganization, and separation	(6		)	—			—			—			(6		)
Depreciation, depletion, and amortization	265			—			883			—			1,148
Asset retirement obligation accretion	11			—			62			—			73
Impairments	—			—			8			—			8
Financing costs, net	120			12			67			—			199
	874			12			1,829			—			2,715
NET INCOME (LOSS) BEFORE INCOME TAXES	91			(23		)	640			(161		)	547
Provision (benefit) for income taxes	(694		)	4			357			—			(333		)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	785			(27		)	283			(161		)	880
Net income attributable to noncontrolling interest	—			—			95			—			95
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	785		$	(27	)	$	188		$	(161	)	$	785

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Six Months EndedJune 30, 2016

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations		Consolidated
	(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	487		$	—		$	1,986		$	—	$	2,473
Equity in net income (loss) of affiliates	(184		)	(20		)	—			204		—
Other	6			21			(51		)	—		(24		)
Gain (loss) on divestitures	(2		)	—			18			—		16
	307			1			1,953			204		2,465
OPERATING EXPENSES:
Lease operating expenses	144			—			593			—		737
Gathering and transportation	19			—			85			—		104
Taxes other than income	43			—			33			—		76
Exploration	126			—			60			—		186
General and administrative	163			—			33			—		196
Transaction, reorganization, and separation	24			—			—			—		24
Depreciation, depletion, and amortization	315			—			1,032			—		1,347
Asset retirement obligation accretion	9			—			67			—		76
Impairments	61			—			112			—		173
Financing costs, net	125			17			67			—		209
	1,029			17			2,082			—		3,128
NET INCOME (LOSS) BEFORE INCOME TAXES	(722		)	(16		)	(129		)	204		(663		)
Provision (benefit) for income taxes	(106		)	4			10			—		(92		)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	(616		)	(20		)	(139		)	204		(571		)
Net income attributable to noncontrolling interest	—			—			45			—		45
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	(616	)	$	(20	)	$	(184	)	$	204	$	(616	)

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months EndedJune 30, 2017

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations			Consolidated
	(In millions)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	(280	)	$	(13	)	$	1,499		$	—		$	1,206
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(235		)	—			(648		)	—			(883		)
Leasehold and property acquisitions	(58		)	—			(9		)	—			(67		)
Additions to gas gathering, transmission, and processing facilities	—			—			(274		)	—			(274		)
Proceeds from sale of Midale and House Mountain	—			—			228			—			228
Proceeds from sale of oil and gas properties	—			—			483			—			483
Investment in subsidiaries, net	668			—			—			(668		)	—
Other	(9		)	—			(7		)	—			(16		)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	366			—			(227		)	(668		)	(529		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	—			259			(927		)	668			—
Payment of fixed-rate debt	(70		)	—			—			—			(70		)
Distributions to noncontrolling interest	—			—			(170		)	—			(170		)
Common stock activity, net	—			—			—			—			—
Dividends paid	(190		)	—			—			—			(190		)
Other	—			—			43			—			43
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(260		)	259			(1,054		)	668			(387		)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(174		)	246			218			—			290
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	344			—			1,033			—			1,377
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	170		$	246		$	1,251		$	—		$	1,667

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months EndedJune 30, 2016

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation			Reclassifications & Eliminations			Consolidated
	(In millions)
CASH PROVIDED BY OPERATING ACTIVITIES	$	110		$	—		$	873		$	—		$	983
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(53		)	—			(872		)	—			(925		)
Leasehold and property acquisitions	(53		)	—			(65		)	—			(118		)
Investment in subsidiaries, net	(39		)	—			—			39			—
Other	(3		)	—			80			—			77
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(148		)	—			(857		)	39			(966		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	—			1			38			(39		)	—
Distributions to noncontrolling interest	—			—			(93		)	—			(93		)
Dividends paid	(189		)	—			—			—			(189		)
Other	1			(1		)	(1		)	—			(1		)
NET CASH USED IN FINANCING ACTIVITIES	(188		)	—			(56		)	(39		)	(283		)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(226		)	—			(40		)	—			(266		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	378			—			1,089			—			1,467
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	152		$	—		$	1,049		$	—		$	1,201

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2017

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation		Reclassifications & Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	170		$	246		$	1,251	$	—		$	1,667
Receivables, net of allowance	300			—			715		—			1,015
Inventories	24			—			392		—			416
Drilling advances	5			—			94		—			99
Assets held for sale	—			—			1,231		—			1,231
Prepaid assets and other	178			—			41		—			219
Intercompany receivable	5,453			—			—		(5,453		)	—
	6,130			246			3,724		(5,453		)	4,647
PROPERTY AND EQUIPMENT, NET	7,232			—			10,319		—			17,551
OTHER ASSETS:
Intercompany receivable	—			—			12,876		(12,876		)	—
Equity in affiliates	15,705			(1,252		)	691		(15,144		)	—
Deferred charges and other	105			1,000			299		(1,000		)	404
	$	29,172		$	(6	)	$	27,909	$	(34,473	)	$	22,602
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	371		$	—		$	162	$	—		$	533
Liabilities held for sale	—			—			939		—			939
Other current liabilities	699			4			698		—			1,401
Intercompany payable	—			247			5,206		(5,453		)	—
	1,070			251			7,005		(5,453		)	2,873
LONG-TERM DEBT	8,032			297			—		—			8,329
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	12,876			—			—		(12,876		)	—
Income taxes	(968		)	5			2,021		—			1,058
Asset retirement obligation	355			—			1,456		—			1,811
Other	908			2			356		(1,000		)	266
	13,171			7			3,833		(13,876		)	3,135
COMMITMENTS AND CONTINGENCIES
APACHE SHAREHOLDERS’ EQUITY	6,899			(561		)	15,705		(15,144		)	6,899
Noncontrolling interest	—			—			1,366		—			1,366
TOTAL EQUITY	6,899			(561		)	17,071		(15,144		)	8,265
	$	29,172		$	(6	)	$	27,909	$	(34,473	)	$	22,602

APACHE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

	Apache Corporation			Apache Finance Canada			All Other Subsidiaries of Apache Corporation		Reclassifications & Eliminations			Consolidated
	(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	344		$	—		$	1,033	$	—		$	1,377
Receivables, net of allowance	358			—			770		—			1,128
Inventories	29			—			447		—			476
Drilling advances	4			—			77		—			81
Prepaid assets and other	134			—			45		—			179
Intercompany receivable	5,038			—			—		(5,038		)	—
	5,907			—			2,372		(5,038		)	3,241
PROPERTY AND EQUIPMENT, NET	7,014			—			11,853		—			18,867
OTHER ASSETS:
Intercompany receivable	—			—			12,152		(12,152		)	—
Equity in affiliates	15,517			(1,240		)	706		(14,983		)	—
Deferred charges and other	97			1,000			314		(1,000		)	411
	$	28,535		$	(240	)	$	27,397	$	(33,173	)	$	22,519
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	371		$	(12	)	$	226	$	—		$	585
Other current liabilities	653			3			602		—			1,258
Intercompany payable	—			—			5,038		(5,038		)	—
	1,024			(9		)	5,866		(5,038		)	1,843
LONG-TERM DEBT	8,247			297			—		—			8,544
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	12,152			—			—		(12,152		)	—
Income taxes	(271		)	5			1,976		—			1,710
Asset retirement obligation	257			—			2,175		—			2,432
Other	888			1			422		(1,000		)	311
	13,026			6			4,573		(13,152		)	4,453
COMMITMENTS AND CONTINGENCIES
APACHE SHAREHOLDERS’ EQUITY	6,238			(534		)	15,517		(14,983		)	6,238
Noncontrolling interest	—			—			1,441		—			1,441
TOTAL EQUITY	6,238			(534		)	16,958		(14,983		)	7,679
	$	28,535		$	(240	)	$	27,397	$	(33,173	)	$	22,519