XML 76 R46.htm IDEA: XBRL DOCUMENT v3.22.0.1
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2021
Extractive Industries [Abstract]  
Revenue and Direct Cost Information Relating to Company's Oil and Gas Exploration and Production Activities
The following table sets forth revenue and direct cost information relating to the Company’s oil and gas exploration and production activities. Apache has no long-term agreements to purchase oil or gas production from foreign governments or authorities.
United
States
Egypt(1)
North SeaOther
International
Total(1)
 (In millions, except per boe)
2021
Oil and gas production revenues$3,280 $2,085 $1,136 $— $6,501 
Operating cost:
Depreciation, depletion, and amortization(2)
511 477 267 — 1,255 
Asset retirement obligation accretion30 — 79 — 109 
Lease operating expenses391 469 383 — 1,243 
Gathering, processing, and transmission309 12 39 — 360 
Exploration expenses28 63 34 127 
Production taxes(3)
188 — — — 188 
Income tax383 479 134 — 996 
1,840 1,500 936 4,278 
Results of operations$1,440 $585 $200 $(2)$2,223 
2020
Oil and gas production revenues$1,764 $1,390 $883 $— $4,037 
Operating cost:
Depreciation, depletion, and amortization(2)
726 540 377 — 1,643 
Asset retirement obligation accretion32 — 73 — 105 
Lease operating expenses400 424 305 — 1,129 
Gathering, processing, and transmission291 38 50 — 379 
Exploration expenses168 63 28 15 274 
Impairments related to oil and gas properties3,938 374 — 4,319 
Production taxes(3)
106 — — — 106 
Income tax(818)(22)17 — (823)
4,843 1,417 857 15 7,132 
Results of operations$(3,079)$(27)$26 $(15)$(3,095)
2019
Oil and gas production revenues$2,763 $2,276 $1,276 $— $6,315 
Operating cost:
Depreciation, depletion, and amortization(2)
1,508 641 363 — 2,512 
Asset retirement obligation accretion29 — 76 — 105 
Lease operating expenses645 484 320 — 1,449 
Gathering, processing, and transmission299 40 45 — 384 
Exploration expenses688 100 15 805 
Impairments related to oil and gas properties1,633 — — — 1,633 
Production taxes(3)
191 — — — 191 
Income tax(468)455 188 — 175 
4,525 1,720 994 15 7,254 
Results of operations$(1,762)$556 $282 $(15)$(939)
(1)Includes a noncontrolling interest in Egypt.
(2)Reflects DD&A of capitalized costs of oil and gas properties and, therefore, does not agree with DD&A reflected on Note 18—Business Segment Information.
(3)Reflects only amounts directly related to oil and gas producing properties and, therefore, does not agree with taxes other than income reflected on Note 18—Business Segment Information.
Costs Incurred in Oil and Gas Property Acquisitions, Exploration and Development Activities
Costs Incurred in Oil and Gas Property Acquisitions, Exploration, and Development Activities
United
States
Egypt(2)
North SeaOther
International
Total(2)
 (In millions)
2021
Acquisitions:
Proved$— $(157)$— $— $(157)
Unproved20 — — 29 
Exploration86 39 30 161 
Development545 404 135 1,085 
Costs incurred(1)
$560 $353 $174 $31 $1,118 
(1) Includes capitalized interest, asset retirement costs, and Egypt modernization impacts as follows:
Capitalized interest$— $— $— $— $— 
Asset retirement costs130 — 19 — 149 
Egypt PSC modernization impacts - Proved and Unproved— (145)— — (145)
2020
Acquisitions:
Proved$— $$— $— $
Unproved— — — 
Exploration102 68 150 328 
Development332 378 162 — 872 
Costs incurred(1)
$344 $487 $230 $150 $1,211 
(1) Includes capitalized interest and asset retirement costs as follows:
Capitalized interest$— $— $— $$
Asset retirement costs— 29 — 38 
2019
Acquisitions:
Proved$$$— $— $
Unproved47 10 — — 57 
Exploration162 139 62 105 468 
Development1,500 374 119 1,996 
Costs incurred(1)
$1,712 $528 $181 $108 $2,529 
(1) Includes capitalized interest and asset retirement costs as follows:
Capitalized interest$23 $— $$$32 
Asset retirement costs14 — (111)— (97)
(2) Includes a noncontrolling interest in Egypt.
The following table sets forth the capitalized costs and associated accumulated depreciation, depletion, and amortization relating to the Company’s oil and gas acquisition, exploration, and development activities:
United
States
Egypt(1)
North
Sea
Other
International
Total(1)
 (In millions)
2021
Proved properties$18,732 $12,373 $8,954 $— $40,059 
Unproved properties319 63 33 — 415 
19,051 12,436 8,987 — 40,474 
Accumulated DD&A(14,814)(10,767)(7,345)— (32,926)
$4,237 $1,669 $1,642 $— $7,548 
2020
Proved properties$20,343 $12,069 $8,805 $— $41,217 
Unproved properties348 77 42 135 602 
20,691 12,146 8,847 135 41,819 
Accumulated DD&A(16,252)(10,290)(7,081)— (33,623)
$4,439 $1,856 $1,766 $135 $8,196 
(1)Includes a noncontrolling interest in Egypt..
Proved Reserve Data There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures. The reserve data in the following tables only represent estimates and should not be construed as being exact.
 Crude Oil and Condensate
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands of barrels)
Proved developed reserves:
December 31, 2018300,484 110,014 104,491 514,989 
December 31, 2019278,145 103,573 101,712 483,430 
December 31, 2020206,936 95,981 86,566 389,483 
December 31, 2021180,968 106,646 77,073 364,687 
Proved undeveloped reserves:
December 31, 201845,182 9,484 11,278 65,944 
December 31, 201946,716 10,831 10,049 67,596 
December 31, 202025,516 11,228 7,273 44,017 
December 31, 202118,168 11,003 5,757 34,928 
Total proved reserves:
Balance December 31, 2018345,666 119,498 115,769 580,933 
Extensions, discoveries and other additions52,297 21,039 9,017 82,353 
Revisions of previous estimates(16,446)4,752 5,132 (6,562)
Production(38,344)(30,885)(18,157)(87,386)
Sales of minerals in-place(18,312)— — (18,312)
Balance December 31, 2019324,861 114,404 111,761 551,026 
Extensions, discoveries and other additions17,858 17,855 5,275 40,988 
Revisions of previous estimates(69,247)2,541 (4,756)(71,462)
Production(32,299)(27,591)(18,441)(78,331)
Sales of minerals in-place(8,721)— — (8,721)
Balance December 31, 2020232,452 107,209 93,839 433,500 
Extensions, discoveries and other additions17,869 13,390 2,288 33,547 
Purchases of minerals in-place126 — — 126 
Revisions of previous estimates(4,479)22,727 (60)18,188 
Production(27,450)(25,677)(13,237)(66,364)
Sales of minerals in-place(19,382)— — (19,382)
Balance December 31, 2021199,136 117,649 82,830 399,615 
(1)Includes proved reserves of 39 MMbbls, 36 MMbbls, 38 MMbbls, and 40 MMbbls as of December 31, 2021, 2020, 2019, and 2018, respectively, attributable to a noncontrolling interest in Egypt.
 Natural Gas Liquids
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands of barrels)
Proved developed reserves:
December 31, 2018197,574 502 1,938 200,014 
December 31, 2019158,794 667 2,317 161,778 
December 31, 2020150,599 716 2,053 153,368 
December 31, 2021164,172 446 2,059 166,677 
Proved undeveloped reserves:
December 31, 201833,796 60 631 34,487 
December 31, 201923,569 90 660 24,319 
December 31, 202015,141 126 320 15,587 
December 31, 202116,380 30 275 16,685 
Total proved reserves:
Balance December 31, 2018231,370 562 2,569 234,501 
Extensions, discoveries and other additions41,343 27 697 42,067 
Revisions of previous estimates(32,569)508 345 (31,716)
Production(24,959)(340)(634)(25,933)
Sales of minerals in-place(32,822)— — (32,822)
Balance December 31, 2019182,363 757 2,977 186,097 
Extensions, discoveries and other additions11,435 97 312 11,844 
Revisions of previous estimates(469)264 (207)(412)
Production(27,133)(276)(709)(28,118)
Sales of minerals in-place(456)— — (456)
Balance December 31, 2020165,740 842 2,373 168,955 
Extensions, discoveries and other additions21,055 81 21,143 
Purchases of minerals in-place191 — — 191 
Revisions of previous estimates22,724 (180)318 22,862 
Production(24,175)(193)(438)(24,806)
Sales of minerals in-place(4,983)— — (4,983)
Balance December 31, 2021180,552 476 2,334 183,362 
(1)  Includes proved reserves of 159 Mbbls, 281 Mbbls, 252 Mbbls, and 187 Mbbls as of December 31, 2021, 2020, 2019, and 2018, respectively, attributable to a noncontrolling interest in Egypt.
 Natural Gas
 United
States
Egypt(1)
North
Sea
Total(1)
(Millions of cubic feet)
Proved developed reserves:
December 31, 20181,626,403 476,132 95,347 2,197,882 
December 31, 2019945,938 433,382 106,329 1,485,649 
December 31, 20201,052,756 409,035 68,159 1,529,950 
December 31, 20211,237,461 464,826 76,155 1,778,442 
Proved undeveloped reserves:
December 31, 2018267,090 33,006 15,804 315,900 
December 31, 2019115,040 24,704 16,604 156,348 
December 31, 202076,504 12,572 8,341 97,417 
December 31, 2021184,441 9,899 7,124 201,464 
Total proved reserves:
Balance December 31, 20181,893,493 509,138 111,151 2,513,782 
Extensions, discoveries and other additions249,205 34,758 27,711 311,674 
Revisions of previous estimates(509,753)18,570 4,015 (487,168)
Production(233,447)(104,380)(19,944)(357,771)
Sales of minerals in-place(338,520)— — (338,520)
Balance December 31, 20191,060,978 458,086 122,933 1,641,997 
Extensions, discoveries and other additions60,965 83,718 8,140 152,823 
Revisions of previous estimates215,166 (19,849)(33,541)161,776 
Production(205,594)(100,348)(21,032)(326,974)
Sales of minerals in-place(2,255)— — (2,255)
Balance December 31, 20201,129,260 421,607 76,500 1,627,367 
Extensions, discoveries and other additions227,684 50,209 3,684 281,577 
Purchases of minerals in-place839 — — 839 
Revisions of previous estimates279,610 99,143 17,171 395,924 
Production(192,523)(96,234)(14,076)(302,833)
Sales of minerals in-place(22,968)— — (22,968)
Balance December 31, 20211,421,902 474,725 83,279 1,979,906 
(1) Includes proved reserves of 158 Bcf, 141 Bcf, 153 Bcf, and 170 Bcf as of December 31, 2021, 2020, 2019, and 2018, respectively, attributable to a noncontrolling interest in Egypt.
 Total Equivalent Reserves
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands barrels of oil equivalent)
Proved developed reserves:
December 31, 2018769,125 189,871 122,320 1,081,316 
December 31, 2019594,595 176,470 121,751 892,816 
December 31, 2020532,994 164,870 99,979 797,843 
December 31, 2021551,384 184,563 91,825 827,772 
Proved undeveloped reserves:
December 31, 2018123,493 15,045 14,543 153,081 
December 31, 201989,458 15,038 13,476 117,972 
December 31, 202053,408 13,449 8,983 75,840 
December 31, 202165,288 12,683 7,219 85,190 
Total proved reserves:
Balance December 31, 2018892,618 204,916 136,863 1,234,397 
Extensions, discoveries and other additions135,174 26,859 14,333 176,366 
Revisions of previous estimates(133,974)8,355 6,146 (119,473)
Production(102,211)(48,622)(22,115)(172,948)
Sales of minerals in-place(107,554)— — (107,554)
Balance December 31, 2019684,053 191,508 135,227 1,010,788 
Extensions, discoveries and other additions39,454 31,905 6,944 78,303 
Revisions of previous estimates(33,854)(502)(10,554)(44,910)
Production(93,698)(44,592)(22,655)(160,945)
Sales of minerals in-place(9,553)— — (9,553)
Balance December 31, 2020586,402 178,319 108,962 873,683 
Extensions, discoveries and other additions76,871 21,765 2,983 101,619 
Purchases of minerals in-place457 — — 457 
Revisions of previous estimates64,847 39,071 3,120 107,038 
Production(83,712)(41,909)(16,021)(141,642)
Sales of minerals in-place(28,193)— — (28,193)
Balance December 31, 2021616,672 197,246 99,044 912,962 
(1) Includes total proved reserves of 66 MMboe, 59 MMboe, 64 MMboe, and 68 MMboe as of December 31, 2021, 2020, 2019, and 2018, respectively, attributable to a noncontrolling interest in Egypt.
Unaudited Information of Future Net Cash Flows For Oil and Gas Reserves, Net of Income Tax Expense
The following table sets forth unaudited information concerning future net cash flows for proved oil and gas reserves, net of income tax expense. Income tax expense has been computed using expected future tax rates and giving effect to tax deductions and credits available, under current laws, and which relate to oil and gas producing activities. This information does not purport to present the fair market value of the Company’s oil and gas assets, but does present a standardized disclosure concerning possible future net cash flows that would result under the assumptions used.
United
States
Egypt(1)
North
Sea
Total(1)
 (In millions)
2021
Cash inflows$22,852 $9,337 $6,832 $39,021 
Production costs(8,323)(1,712)(2,343)(12,378)
Development costs(1,632)(1,402)(2,533)(5,567)
Income tax expense(134)(1,887)(768)(2,789)
Net cash flows12,763 4,336 1,188 18,287 
10 percent discount rate(5,294)(983)350 (5,927)
Discounted future net cash flows(2)
$7,469 $3,353 $1,538 $12,360 
2020
Cash inflows$12,537 $5,560 $4,122 $22,219 
Production costs(6,244)(1,704)(2,388)(10,336)
Development costs(1,555)(633)(2,448)(4,636)
Income tax expense— (1,096)316 (780)
Net cash flows4,738 2,127 (398)6,467 
10 percent discount rate(1,829)(437)1,111 (1,155)
Discounted future net cash flows(2)
$2,909 $1,690 $713 $5,312 
2019
Cash inflows$21,694 $8,306 $7,454 $37,454 
Production costs(10,642)(1,847)(2,730)(15,219)
Development costs(1,740)(707)(2,651)(5,098)
Income tax expense(27)(1,930)(784)(2,741)
Net cash flows9,285 3,822 1,289 14,396 
10 percent discount rate(4,003)(808)297 (4,514)
Discounted future net cash flows(2)
$5,282 $3,014 $1,586 $9,882 
(1)Includes discounted future net cash flows of approximately $1.1 billion, $563 million, and $1.0 billion as of December 31, 2021, 2020, and 2019, respectively, attributable to a noncontrolling interest in Egypt.
(2)Estimated future net cash flows before income tax expense, discounted at 10 percent per annum, totaled approximately $15.3 billion, $7.1 billion, and $12.4 billion as of December 31, 2021, 2020, and 2019, respectively.
Principal Sources of Change In Discounted Future Net Cash Flows
The following table sets forth the principal sources of change in the discounted future net cash flows:
 For the Year Ended December 31,
 202120202019
 (In millions)
Sales, net of production costs$(4,707)$(2,422)$(4,291)
Net change in prices and production costs9,376 (5,753)(3,034)
Discoveries and improved recovery, net of related costs1,749 751 2,042 
Change in future development costs(839)20 (75)
Previously estimated development costs incurred during the period545 576 983 
Revision of quantities1,983 (418)(741)
Purchases of minerals in-place— — 
Accretion of discount626 1,236 1,693 
Change in income taxes(1,583)1,533 720 
Sales of minerals in-place(116)(104)(817)
Change in production rates and other13 11 (319)
$7,048 $(4,570)$(3,839)