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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES AND OTHER:        
Derivative instrument gains, net $ 0 $ 0 $ 1,000,000 $ 0
Gain on divestitures, net 1,000,000 1,000,000 284,000,000 7,000,000
Loss on previously sold Gulf of Mexico properties 0 0 (83,000,000) 0
Other, net 20,000,000 7,000,000 40,000,000 84,000,000
Total revenues and other 1,999,000,000 2,220,000,000 5,952,000,000 5,992,000,000
OPERATING EXPENSES:        
Lease operating expenses [1] 321,000,000 381,000,000 1,016,000,000 1,047,000,000
Taxes other than income 41,000,000 56,000,000 137,000,000 153,000,000
Exploration 25,000,000 39,000,000 95,000,000 120,000,000
General and administrative 78,000,000 132,000,000 229,000,000 256,000,000
Transaction, reorganization, and separation 3,000,000 5,000,000 17,000,000 11,000,000
Depreciation, depletion, and amortization 418,000,000 377,000,000 1,185,000,000 1,024,000,000
Asset retirement obligation accretion 33,000,000 29,000,000 107,000,000 86,000,000
Impairments 1,111,000,000 0 1,111,000,000 46,000,000
Financing costs, net 20,000,000 40,000,000 79,000,000 131,000,000
Total operating expenses 2,381,000,000 1,353,000,000 4,724,000,000 3,663,000,000
NET INCOME (LOSS) BEFORE INCOME TAXES (382,000,000) 867,000,000 1,228,000,000 2,329,000,000
Current income tax provision 267,000,000 422,000,000 903,000,000 1,022,000,000
Deferred income tax benefit (522,000,000) (134,000,000) (511,000,000) (29,000,000)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS (127,000,000) 579,000,000 836,000,000 1,336,000,000
NET INCOME (LOSS) ATTRIBUTABLE TO APACHE CORPORATION (318,000,000) 387,000,000 282,000,000 814,000,000
Noncontrolling interest – Sinopec        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 84,000,000 96,000,000 243,000,000 261,000,000
Noncontrolling interest – APA Corporation        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 107,000,000 96,000,000 311,000,000 261,000,000
Oil and gas        
REVENUES AND OTHER:        
Total revenues 1,978,000,000 2,212,000,000 5,710,000,000 5,901,000,000
Oil and gas, excluding purchased        
REVENUES AND OTHER:        
Total revenues [1] 1,544,000,000 1,983,000,000 4,843,000,000 5,289,000,000
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] 78,000,000 83,000,000 237,000,000 231,000,000
Purchased oil and gas        
REVENUES AND OTHER:        
Total revenues [1] 434,000,000 229,000,000 867,000,000 612,000,000
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] $ 253,000,000 $ 211,000,000 $ 511,000,000 $ 558,000,000
[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.