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SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited)
 12 Months Ended
Dec. 31, 2023
Extractive Industries [Abstract]  
SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited)
Oil and Gas Operations
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)
2023
Oil and gas production revenues$2,712 $3,029 $1,338 $— $7,079 
Operating cost:
Depreciation, depletion, and amortization(2)
568 521 270 — 1,359 
Asset retirement obligation accretion40 — 76 — 116 
Lease operating expenses554 474 369 — 1,397 
Gathering, processing, and transmission229 33 52 — 314 
Exploration expenses14 119 19 1 153 
Production taxes(3)
189 — — — 189 
Income tax235 828 414 — 1,477 
1,829 1,975 1,200 1 5,005 
Results of operations$883 $1,054 $138 $(1)$2,074 
2022
Oil and gas production revenues$3,952 $3,521 $1,558 $— $9,031 
Operating cost:
Depreciation, depletion, and amortization(2)
508 390 232 — 1,130 
Asset retirement obligation accretion34 — 82 — 116 
Lease operating expenses506 526 404 — 1,436 
Gathering, processing, and transmission304 22 43 — 369 
Exploration expenses24 84 35 3 146 
Production taxes(3)
252 — — — 252 
Income tax488 1,100 495 — 2,083 
2,116 2,122 1,291 3 5,532 
Results of operations$1,836 $1,399 $267 $(3)$3,499 
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 2 127 
Production taxes(3)
188 — — — 188 
Income tax383 479 134 — 996 
1,840 1,500 936 2 4,278 
Results of operations$1,440 $585 $200 $(2)$2,223 
(1)Includes noncontrolling interests in Egypt.
(2)Reflects DD&A of capitalized costs of oil and gas properties and, therefore, does not agree with DD&A reflected on Note 18—Business Segment Information.
(3)Reflects only amounts directly related to oil and gas producing properties and, therefore, does not agree with taxes other than income reflected on Note 18—Business Segment Information.
Costs Incurred in Oil and Gas Property Acquisitions, Exploration, and Development Activities
United
States
Egypt(2)
North SeaOther
International
Total(2)
 (In millions)
2023
Acquisitions:
Proved$— $4 $— $— $4 
Unproved19 — — — 19 
Exploration5 226 44 1 276 
Development864 646 468 — 1,978 
Costs incurred(1)
$888 $876 $512 $1 $2,277 
(1) Includes asset retirement costs:
Asset retirement costs$(7)$— $375 $— $368 
2022
Acquisitions:
Proved$19 $3 $— $— $22 
Unproved28 — — — 28 
Exploration4 169 61 3 237 
Development775 568 (57)— 1,286 
Costs incurred(1)
$826 $740 $4 $3 $1,573 
(1) Includes capitalized interest and asset retirement costs:
Capitalized interest$— $— $1 $— $1 
Asset retirement costs76 — (215)— (139)
2021
Acquisitions:
Proved$— $(157)$— $— $(157)
Unproved9 20 — — 29 
Exploration6 86 39 30 161 
Development545 404 135 1 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)
(2) Includes noncontrolling interests in Egypt.
In 2021, in connection with Apache’s agreement to enter into a new merged concession agreement with EGPC, the Company recorded a reduction in proved properties totaling $165 million and an increase in unproved properties of $20 million, reflecting $247 million of incremental value due to the Company for the period between the effective date of April 1, 2021 and closing, partially offset by a $100 million signing bonus and $2 million of other post-closing adjustments.
Capitalized Costs
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)
2023
Proved properties$19,809 $13,777 $9,472 $— $43,058 
Unproved properties217 71 3 — 291 
20,026 13,848 9,475 — 43,349 
Accumulated DD&A(15,390)(11,678)(7,849)— (34,917)
$4,636 $2,170 $1,626 $— $8,432 
2022
Proved properties$18,990 $13,014 $8,945 $— $40,949 
Unproved properties208 77 11 — 296 
19,198 13,091 8,956 — 41,245 
Accumulated DD&A(14,846)(11,157)(7,573)— (33,576)
$4,352 $1,934 $1,383 $— $7,669 
(1)Includes noncontrolling interests in Egypt
Oil and Gas Reserve Information
Proved oil and gas reserves are those quantities of natural gas, crude oil, condensate, and NGLs, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations. Estimated proved developed oil and gas reserves can be expected to be recovered through existing wells with existing equipment and operating methods. The Company reports all estimated proved reserves held under production-sharing arrangements utilizing the “economic interest” method, which excludes the host country’s share of reserves.
Estimated reserves that can be produced economically through application of improved recovery techniques are included in the “proved” classification when successful testing by a pilot project or the operation of an active, improved recovery program using reliable technology establishes the reasonable certainty for the engineering analysis on which the project or program is based. Economically producible means a resource that generates revenue that exceeds, or is reasonably expected to exceed, the costs of the operation. Reasonable certainty means a high degree of confidence that the quantities will be recovered. Reliable technology is a grouping of one or more technologies (including computational methods) that has been field-tested and has been demonstrated to provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an analogous formation. In estimating its proved reserves, Apache uses several different traditional methods that can be classified in three general categories: (1) performance-based methods; (2) volumetric-based methods; and (3) analogy with similar properties. Apache will, at times, utilize additional technical analysis such as computer reservoir models, petrophysical techniques, and proprietary 3-D seismic interpretation methods to provide additional support for more complex reservoirs. Information from this additional analysis is combined with traditional methods outlined above to enhance the certainty of the Company’s reserve estimates.
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, 2020206,936 95,981 86,566 389,483 
December 31, 2021180,968 106,646 77,073 364,687 
December 31, 2022168,817 108,050 82,580 359,447 
December 31, 2023167,911 102,305 61,076 331,292 
Proved undeveloped reserves:
December 31, 202025,516 11,228 7,273 44,017 
December 31, 202118,168 11,003 5,757 34,928 
December 31, 202216,221 8,557 2,873 27,651 
December 31, 202329,012 5,254 — 34,266 
Total proved reserves:
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 
Extensions, discoveries and other additions9,776 7,580 2,616 19,972 
Purchases of minerals in-place522 — — 522 
Revisions of previous estimates7,170 22,433 11,898 41,501 
Production(24,141)(31,055)(11,891)(67,087)
Sales of minerals in-place(7,425)— — (7,425)
Balance December 31, 2022185,038 116,607 85,453 387,098 
Extensions, discoveries and other additions37,353 12,979 301 50,633 
Revisions of previous estimates1,062 10,505 (12,002)(435)
Production(25,755)(32,532)(12,676)(70,963)
Sales of minerals in-place(775)— — (775)
Balance December 31, 2023196,923 107,559 61,076 365,558 
(1)Includes proved reserves of 53 MMbbls, 62 MMbbls, 39 MMbbls, and 36 MMbbls as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to noncontrolling interests in Egypt.
 Natural Gas Liquids
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands of barrels)
Proved developed reserves:
December 31, 2020150,599 716 2,053 153,368 
December 31, 2021164,172 446 2,059 166,677 
December 31, 2022152,999 — 2,230 155,229 
December 31, 2023145,618 — 1,460 147,078 
Proved undeveloped reserves:
December 31, 202015,141 126 320 15,587 
December 31, 202116,380 30 275 16,685 
December 31, 202215,398 — 76 15,474 
December 31, 202316,413 — — 16,413 
Total proved reserves:
Balance December 31, 2020165,740 842 2,373 168,955 
Extensions, discoveries and other additions21,055 7 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 
Extensions, discoveries and other additions5,456 — 45 5,501 
Purchases of minerals in-place233 — — 233 
Revisions of previous estimates10,355 (407)333 10,281 
Production(21,859)(69)(406)(22,334)
Sales of minerals in-place(6,340)— — (6,340)
Balance December 31, 2022168,397 — 2,306 170,703 
Extensions, discoveries and other additions20,827 — 371 21,198 
Revisions of previous estimates(6,343)— (764)(7,107)
Production(20,817)— (453)(21,270)
Sales of minerals in-place(33)— — (33)
Balance December 31, 2023162,031 — 1,460 163,491 
(1)  Includes proved reserves of 159 Mbbls and 281 Mbbls as of December 31, 2021 and 2020, respectively, attributable to noncontrolling interests in Egypt.
 Natural Gas
 United
States
Egypt(1)
North
Sea
Total(1)
(Millions of cubic feet)
Proved developed reserves:
December 31, 20201,052,756 409,035 68,159 1,529,950 
December 31, 20211,237,461 464,826 76,155 1,778,442 
December 31, 20221,128,066 399,502 66,292 1,593,860 
December 31, 2023953,578 377,144 46,839 1,377,561 
Proved undeveloped reserves:
December 31, 202076,504 12,572 8,341 97,417 
December 31, 2021184,441 9,899 7,124 201,464 
December 31, 2022188,976 1,068 2,304 192,348 
December 31, 202386,800 2,612 — 89,412 
Total proved reserves:
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 
Extensions, discoveries and other additions38,157 10,191 1,643 49,991 
Purchases of minerals in-place1,592 — — 1,592 
Revisions of previous estimates96,381 45,725 (3,431)138,675 
Production(167,580)(130,071)(12,895)(310,546)
Sales of minerals in-place(73,410)— — (73,410)
Balance December 31, 20221,317,042 400,570 68,596 1,786,208 
Extensions, discoveries and other additions125,654 14,188 3,335 143,177 
Revisions of previous estimates(249,257)83,907 (6,739)(172,089)
Production(152,925)(118,909)(18,353)(290,187)
Sales of minerals in-place(136)— — (136)
Balance December 31, 20231,040,378 379,756 46,839 1,466,973 
(1) Includes proved reserves of 188 Bcf, 224 Bcf, 158 Bcf, and 141 Bcf as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to noncontrolling interests in Egypt.
 Total Equivalent Reserves
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands barrels of oil equivalent)
Proved developed reserves:
December 31, 2020532,994 164,870 99,979 797,843 
December 31, 2021551,384 184,563 91,825 827,772 
December 31, 2022509,827 174,633 95,859 780,319 
December 31, 2023472,459 165,162 70,343 707,964 
Proved undeveloped reserves:
December 31, 202053,408 13,449 8,983 75,840 
December 31, 202165,288 12,683 7,219 85,190 
December 31, 202263,115 8,735 3,333 75,183 
December 31, 202359,891 5,690 — 65,581 
Total proved reserves:
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 
Extensions, discoveries and other additions21,592 9,278 2,935 33,805 
Purchases of minerals in-place1,020 — — 1,020 
Revisions of previous estimates33,588 29,647 11,659 74,894 
Production(73,930)(52,803)(14,446)(141,179)
Sales of minerals in-place(26,000)— — (26,000)
Balance December 31, 2022572,942 183,368 99,192 855,502 
Extensions, discoveries and other additions79,123 15,344 1,228 95,695 
Revisions of previous estimates(46,824)24,490 (13,889)(36,223)
Production(72,060)(52,350)(16,188)(140,598)
Sales of minerals in-place(831)— — (831)
Balance December 31, 2023532,350 170,852 70,343 773,545 
(1) Includes total proved reserves of 84 MMboe, 99 MMboe, 66 MMboe, and 59 MMboe as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to noncontrolling interests in Egypt.
During 2023, the Company added approximately 96 MMboe from extensions, discoveries, and other additions. The Company recorded 79 MMboe of exploration and development adds in the U.S., comprising 67 MMboe in the Permian Basin, 10 MMboe in the Delaware Basin, and 2 MMboe in the Texas Gulf Coast. Drilling programs for the Permian and Delaware Basins include the Wolfcamp, Bone Spring and Spraberry with the Austin Chalk as the primary focus for the Texas Gulf Coast. International operations contributed 16 MMboe of exploration and development adds, with Egypt contributing 15 MMboe from onshore exploration and appraisal activity primarily in the Khalda Area and 1 MMboe from the North Sea. The Company had combined downward revisions of previously estimated reserves of 36 MMboe, primarily driven by revisions in the U.S. Downward revisions for price and interest changes accounted for 83 MMboe, offset by engineering and performance upward revisions of 47 MMboe.
During 2022, the Company added approximately 34 MMboe from extensions, discoveries, and other additions. The Company recorded 22 MMboe of exploration and development adds in the U.S., comprising 9 MMboe in the Permian Basin, 8 MMboe in the Texas Gulf Coast, and 5 MMboe in the Delaware Basin. Drilling programs for the Permian and Delaware Basins include the Wolfcamp, Bone Spring and Spraberry with the Austin Chalk as the primary focus for the Texas Gulf Coast. International operations contributed 12 MMboe of exploration and development adds, with Egypt contributing 9 MMboe from onshore exploration and appraisal activity primarily in the Khalda Area and 3 MMboe from the North Sea. The Company had combined upward revisions of previously estimated reserves of 75 MMboe. Upward revisions related to miscellaneous changes accounted for 5 MMboe. Engineering and performance upward revisions accounted for 70 MMboe, with Egypt accounting for an increase of 43 MMboe, primarily the result of PSC modernization in Egypt. The North Sea contributed 9 MMboe of upward revisions from well performance and reactivations in both the Beryl and Forties programs. In the United States, the Company experienced positive revisions of 18 MMboe. The Company acquired 1 MMboe of proved reserves and sold 26 MMboe of proved reserves associated with U.S. divestitures, primarily related to Permian Basin assets.
During 2021, the Company added approximately 102 MMboe from extensions, discoveries, and other additions. The Company recorded 77 MMboe of exploration and development adds in the U.S., comprising 59 MMboe in the Permian Basin with the remaining 18 MMboe in the Texas Gulf Coast. The Permian Basin drilling programs targeted the Woodford, Barnett, Bone Springs, and Spraberry, while the Texas Gulf Coast focused on the Austin Chalk. International operations contributed 25 MMboe of exploration and development adds, with Egypt contributing 22 MMboe from onshore exploration and appraisal activity primarily in the Khalda Area concession post-PSC modernization. The North Sea contributed 3 MMboe. The Company had combined upward revisions of previously estimated reserves of 107 MMboe. Upward revisions related to changes in product prices accounted for 85 MMboe. Engineering and performance upward revisions accounted for 22 MMboe, with the new merged concession agreement in Egypt resulting in an increase of 57 MMboe, partially offset by other downward revisions of 35 MMboe across all of the Company’s geographic areas of operation. The Company also sold 28 MMboe of proved reserves associated with U.S. divestitures, primarily related to Permian Basin assets.
The impact of the consolidated PSC to proved reserves based on the modernized terms was an estimated increase of 53 MMboe and 4 MMboe in developed and undeveloped reserves, respectively, and approximately $750 million in discounted future net cash flows. As of December 31, 2021, approximately 96 percent of the Company’s Egypt reserves were consolidated within the modernized PSC. These estimates include Sinopec’s noncontrolling interest in Egypt.
Approximately 10 percent of the Company’s year-end 2023 estimated proved developed reserves are classified as proved not producing. These reserves relate to zones that are either behind pipe, or that have been completed but not yet produced, or zones that have been produced in the past, but are not now producing because of mechanical reasons. These reserves are considered to be a lower tier of reserves than producing reserves because they are frequently based on volumetric calculations rather than performance data. Future production associated with behind pipe reserves is scheduled to follow depletion of the currently producing zones in the same wellbores. Additional capital may have to be spent to access these reserves. The capital and economic impact of production timing are reflected in this Note 18, under “Future Net Cash Flows.”
Future Net Cash Flows
Future cash inflows as of December 31, 2023, 2022, and 2021 were calculated using an unweighted arithmetic average of oil and gas prices in effect on the first day of each month in the respective year, except where prices are defined by contractual arrangements. Operating costs, production and ad valorem taxes and future development costs are based on current costs with no escalation. Future development costs include abandonment and dismantlement costs.
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 laws in effect as of December 31, 2023, 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)
2023
Cash inflows$20,063 $9,921 $5,761 $35,745 
Production costs(7,861)(1,690)(2,773)(12,324)
Development costs(2,182)(1,235)(2,461)(5,878)
Income tax expense(936)(2,222)(946)(4,104)
Net cash flows9,084 4,774 (419)13,439 
10 percent discount rate(3,534)(943)476 (4,001)
Discounted future net cash flows(2)
$5,550 $3,831 $57 $9,438 
2022
Cash inflows$29,490 $12,819 $10,147 $52,456 
Production costs(10,221)(2,086)(3,241)(15,548)
Development costs(1,598)(1,471)(2,297)(5,366)
Income tax expense(1,389)(2,729)(2,631)(6,749)
Net cash flows16,282 6,533 1,978 24,793 
10 percent discount rate(6,422)(1,400)(204)(8,026)
Discounted future net cash flows(2)
$9,860 $5,133 $1,774 $16,767 
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 
(1)Includes discounted future net cash flows of approximately $1.8 billion, $2.5 billion, and $1.6 billion as of December 31, 2023, 2022, and 2021, respectively, attributable to noncontrolling interests in Egypt.
(2)Estimated future net cash flows before income tax expense, discounted at 10 percent per annum, totaled approximately $13.0 billion, $21.7 billion, and $14.9 billion as of December 31, 2023, 2022, and 2021, respectively.
The following table sets forth the principal sources of change in the discounted future net cash flows:
 For the Year Ended December 31,
 202320222021
 (In millions)
Sales, net of production costs$(5,176)$(6,970)$(4,707)
Net change in prices and production costs(6,699)8,627 9,376 
Discoveries and improved recovery, net of related costs1,633 1,132 1,749 
Change in future development costs(415)(347)(839)
Previously estimated development costs incurred during the period707 669 545 
Revision of quantities(127)2,621 1,983 
Purchases of minerals in-place— 17 1 
Accretion of discount2,167 1,489 626 
Change in income taxes1,374 (2,371)(1,583)
Sales of minerals in-place(18)(363)(116)
Change in production rates and other(775)(97)13 
$(7,329)$4,407 $7,048