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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) including noncontrolling interests $ 1,402 $ (4,904) $ (3,682)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Unrealized derivative instrument losses (gains), net (69) 87 44
Gain on divestitures, net (67) (32) (43)
Exploratory dry hole expense and unproved leasehold impairments 86 211 676
Depreciation, depletion, and amortization 1,360 1,772 2,680
Asset retirement obligation accretion 113 109 107
Impairments 208 4,501 2,949
Provision for (benefit from) deferred income taxes (74) (112) 14
Loss (gain) from extinguishment of debt 104 (160) 75
Loss on previously sold Gulf of Mexico properties 446 0 0
Other (23) 102 50
Changes in operating assets and liabilities:      
Receivables (393) 149 133
Inventories (9) 19 (41)
Drilling advances and other current assets 60 (29) 30
Deferred charges and other long-term assets (42) (13) 0
Accounts payable 205 (167) (5)
Accounts payable to APA Corporation 40 0 0
Accrued expenses 127 (163) (84)
Deferred credits and noncurrent liabilities 31 18 (36)
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,505 1,388 2,867
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to oil and gas property (934) (1,270) (2,594)
Additions to Altus gathering, processing, and transmission (GPT) facilities (3) (28) (327)
Leasehold and property acquisitions (9) (4) (40)
Contributions to Altus equity method interests (28) (327) (501)
Acquisition of Altus equity method interests 0 0 (671)
Proceeds from asset divestitures 256 166 718
Other 52 (3) (31)
NET CASH USED IN INVESTING ACTIVITIES (666) (1,466) (3,446)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Apache credit facility, net 392 150 0
Proceeds from Altus credit facility 33 228 396
Proceeds from note payable to APA Corporation, net 78 0 0
Fixed rate debt borrowings 0 1,238 989
Payments on fixed-rate debt (1,795) (1,243) (1,150)
Distributions to noncontrolling interest - Egypt (279) (91) (305)
Distributions to Altus Preferred Unit limited partners (46) (23) 0
Redeemable noncontrolling interest - Altus Preferred Unit limited partners 0 0 611
Distributions to APA Corporation (1,182) 0 0
Dividends paid (9) (123) (376)
Treasury stock activity, net 0 1 2
Other (14) (44) (55)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (2,822) 93 112
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 17 15 (467)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 262 247 714
CASH AND CASH EQUIVALENTS AT END OF PERIOD 279 262 247
SUPPLEMENTARY CASH FLOW DATA:      
Interest paid, net of capitalized interest 442 419 394
Income taxes paid, net of refunds $ 633 $ 212 $ 649