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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES AND OTHER:        
Derivative instrument gains, net $ 1,000,000 $ 0 $ 1,000,000 $ 0
Gain on divestitures, net 276,000,000 5,000,000 283,000,000 6,000,000
Loss on previously sold Gulf of Mexico properties (17,000,000) 0 (83,000,000) 0
Other, net 5,000,000 109,000,000 20,000,000 77,000,000
Total revenues and other 2,158,000,000 1,858,000,000 3,953,000,000 3,772,000,000
OPERATING EXPENSES:        
Lease operating expenses [1] 369,000,000 352,000,000 695,000,000 666,000,000
Taxes other than income 46,000,000 47,000,000 96,000,000 97,000,000
Exploration 28,000,000 37,000,000 70,000,000 81,000,000
General and administrative 68,000,000 66,000,000 151,000,000 124,000,000
Transaction, reorganization, and separation 5,000,000 2,000,000 14,000,000 6,000,000
Depreciation, depletion, and amortization 394,000,000 339,000,000 767,000,000 647,000,000
Asset retirement obligation accretion 34,000,000 29,000,000 74,000,000 57,000,000
Impairments 0 46,000,000 0 46,000,000
Financing costs, net 26,000,000 42,000,000 59,000,000 91,000,000
Total operating expenses 1,148,000,000 1,166,000,000 2,343,000,000 2,310,000,000
NET INCOME BEFORE INCOME TAXES 1,010,000,000 692,000,000 1,610,000,000 1,462,000,000
Current income tax provision 336,000,000 254,000,000 636,000,000 600,000,000
Deferred income tax provision (benefit) 29,000,000 (14,000,000) 11,000,000 105,000,000
NET INCOME INCLUDING NONCONTROLLING INTERESTS 645,000,000 452,000,000 963,000,000 757,000,000
NET INCOME ATTRIBUTABLE TO APACHE CORPORATION 464,000,000 290,000,000 600,000,000 427,000,000
Noncontrolling interest – Sinopec        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 79,000,000 81,000,000 159,000,000 165,000,000
Noncontrolling interest – APA Corporation        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 102,000,000 81,000,000 204,000,000 165,000,000
Oil and gas        
REVENUES AND OTHER:        
Total revenues 1,893,000,000 1,744,000,000 3,732,000,000 3,689,000,000
Oil and gas, excluding purchased        
REVENUES AND OTHER:        
Total revenues [1] 1,663,000,000 1,600,000,000 3,299,000,000 3,306,000,000
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] 83,000,000 75,000,000 159,000,000 148,000,000
Purchased oil and gas        
REVENUES AND OTHER:        
Total revenues [1] 230,000,000 144,000,000 433,000,000 383,000,000
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] $ 95,000,000 $ 131,000,000 $ 258,000,000 $ 347,000,000
[1] For transactions with Kinetik prior to the Company’s sale of its remaining shares of Kinetik Class A Common Stock and the resignation of the Company’s designated director from the Kinetik board of directors, refer to Note 6—Equity Method Interests.