Supplemental Guarantor Information

9 Months Ended

Sep. 30, 2011

Supplemental Guarantor Information [Abstract]

SUPPLEMENTAL GUARANTOR INFORMATION

12. SUPPLEMENTAL GUARANTOR INFORMATION

     Apache Finance Canada Corporation (Apache Finance Canada), a wholly-owned subsidiary of Apache, issued approximately $300 million of publicly-traded notes due in 2029 and an additional $350 million of publicly-traded notes due in 2015 that are fully and unconditionally guaranteed by Apache. The following condensed consolidating financial statements are provided as an alternative to filing separate financial statements.

     Apache Finance Canada has been fully consolidated in Apache’s consolidated financial statements. As such, these condensed consolidating financial statements should be read in conjunction with the financial statements of Apache Corporation and subsidiaries and notes thereto, of which this note is an integral part.

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Quarter Ended September 30, 2011

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
					(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	1,097	$	—	$	3,185		$	—		$	4,282
Equity in net income of affiliates		821		188		65			(1,074	)		—
Other		18		148		(119	)		(1	)		46
		1,936		336		3,131			(1,075	)		4,328
OPERATING EXPENSES:
Depreciation, depletion and amortization		323		—		742			—			1,065
Asset retirement obligation accretion		18		—		21			—			39
Lease operating expenses		199		—		462			—			661
Gathering and transportation		13		—		59			—			72
Taxes other than income		49		—		195			—			244
General and administrative		86		—		27			(1	)		112
Merger, acquisitions & transition		3		—		1			—			4
Financing costs, net		33		14		(10	)		—			37
		724		14		1,497			(1	)		2,234
INCOME BEFORE INCOME TAXES		1,212		322		1,634			(1,074	)		2,094
Provision for income taxes		210		69		813			—			1,092
NET INCOME		1,002		253		821			(1,074	)		1,002
Preferred stock dividends		19		—		—			—			19
INCOME ATTRIBUTABLE TO COMMON STOCK	$	983	$	253	$	821		$	(1,074	)	$	983

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Quarter Ended September 30, 2010

						All Other
			Apache			Subsidiaries
	Apache		Finance			of Apache			Reclassifications
	Corporation		Canada			Corporation			& Eliminations			Consolidated
						(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	960	$	—		$	2,087		$	—		$	3,047
Equity in net income (loss) of affiliates		540		(13	)		(9	)		(518	)		—
Other		19		(1	)		(51	)		(1	)		(34	)
		1,519		(14	)		2,027			(519	)		3,013
OPERATING EXPENSES:
Depreciation, depletion and amortization		283		—			504			—			787
Asset retirement obligation accretion		13		—			12			—			25
Lease operating expenses		220		—			287			—			507
Gathering and transportation		10		—			33			—			43
Taxes other than income		39		—			119			—			158
General and administrative		72		—			18			(1	)		89
Merger, acquisitions & transition		8		—			—			—			8
Financing costs, net		31		14			14			—			59
		676		14			987			(1	)		1,676
INCOME (LOSS) BEFORE INCOME TAXES		843		(28	)		1,040			(518	)		1,337
Provision (benefit) for income taxes		65		(6	)		500			—			559
NET INCOME (LOSS)		778		(22	)		540			(518	)		778
Preferred stock dividends		13		—			—			—			13
INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$	765	$	(22	)	$	540		$	(518	)	$	765

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Nine Months Ended September 30, 2011

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
					(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	3,230	$	—	$	9,285		$	—		$	12,515
Equity in net income of affiliates		2,687		163		17			(2,867	)		—
Other		23		109		(53	)		(3	)		76
		5,940		272		9,249			(2,870	)		12,591
OPERATING EXPENSES:
Depreciation, depletion and amortization		938		—		2,092			—			3,030
Asset retirement obligation accretion		52		—		62			—			114
Lease operating expenses		603		—		1,343			—			1,946
Gathering and transportation		37		—		184			—			221
Taxes other than income		140		—		523			—			663
General and administrative		262		—		68			(3	)		327
Merger, acquisitions & transition		10		—		5			—			15
Financing costs, net		104		42		(23	)		—			123
		2,146		42		4,254			(3	)		6,439
INCOME BEFORE INCOME TAXES		3,794		230		4,995			(2,867	)		6,152
Provision for income taxes		399		50		2,308			—			2,757
NET INCOME		3,395		180		2,687			(2,867	)		3,395
Preferred stock dividends		57		—		—			—			57
INCOME ATTRIBUTABLE TO COMMON STOCK	$	3,338	$	180	$	2,687		$	(2,867	)	$	3,338

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Nine Months Ended September 30, 2010

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
					(In millions)
REVENUES AND OTHER:
Oil and gas production revenues	$	2,711	$	—	$	5,998		$	—		$	8,709
Equity in net income (loss) of affiliates		1,735		50		(24	)		(1,761	)		—
Other		22		28		(98	)		(3	)		(51	)
		4,468		78		5,876			(1,764	)		8,658
OPERATING EXPENSES:
Depreciation, depletion and amortization		731		—		1,424			—			2,155
Asset retirement obligation accretion		38		—		36			—			74
Lease operating expenses		558		—		835			—			1,393
Gathering and transportation		31		—		95			—			126
Taxes other than income		107		—		415			—			522
General and administrative		208		—		55			(3	)		260
Merger, acquisitions & transition		16		—		—			—			16
Financing costs, net		133		42		(1	)		—			174
		1,822		42		2,859			(3	)		4,720
INCOME BEFORE INCOME TAXES		2,646		36		3,017			(1,761	)		3,938
Provision for income taxes		303		10		1,282			—			1,595
NET INCOME		2,343		26		1,735			(1,761	)		2,343
Preferred stock dividends		13		—		—			—			13
INCOME ATTRIBUTABLE TO COMMON STOCK	$	2,330	$	26	$	1,735		$	(1,761	)	$	2,330

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2011

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations			Consolidated
							(In millions)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	1,573		$	(34	)	$	5,632		$	—		$	7,171
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property		(1,280	)		—			(3,478	)		—			(4,758	)
Additions to gas gathering, transmission and processing facilities		—			—			(472	)		—			(472	)
Acquisitions, other		(416	)		—			(93	)		—			(509	)
Proceeds from sales of oil and gas properties		6			—			196			—			202
Investment in subsidiaries, net		1,256			—			—			(1,256	)		—
Other		(65	)		—			(24	)		—			(89	)
NET CASH USED IN INVESTING ACTIVITIES		(499	)		—			(3,871	)		(1,256	)		(5,626	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Commercial paper, credit facility and bank notes, net		(928	)		—			(12	)		—			(940	)
Intercompany borrowings		—			(1	)		(1,248	)		1,249			—
Dividends paid		(230	)		—			—			—			(230	)
Common stock activity		47			35			(42	)		7			47
Treasury stock activity, net		4			—			—			—			4
Cost of debt and equity transactions		(2	)		—			—			—			(2	)
Other		48			—			(20	)		—			28
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		(1,061	)		34			(1,322	)		1,256			(1,093	)
NET INCREASE IN CASH AND CASH EQUIVALENTS		13			—			439			—			452
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		6			—			128			—			134
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	19		$	—		$	567		$	—		$	586

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2010

							All Other
				Apache			Subsidiaries
	Apache			Finance			of Apache			Reclassifications
	Corporation			Canada			Corporation			& Eliminations			Consolidated
							(In millions)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	(1,174	)	$	(43	)	$	6,017		$	—		$	4,800
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property		(847	)		—			(2,194	)		—			(3,041	)
Additions to gas gathering, transmission and processing facilities		—			—			(328	)		—			(328	)
Acquisition of Devon properties		(1,018	)		—			—			—			(1,018	)
Acquisition of BP properties		(2,472	)		—			—			—			(2,472	)
Acquisition — other		(29	)		—			(31	)		—			(60	)
Deposit related to acquisition of BP Properties		—			—			(3,500	)		—			(3,500	)
Investment in subsidiaries, net		687			—			—			(687	)		—
Other		(33	)		—			(4	)		—			(37	)
NET CASH USED IN INVESTING ACTIVITIES		(3,712	)		—			(6,057	)		(687	)		(10,456	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Commercial paper, credit facility and bank notes, net		—			—			(37	)		—			(37	)
Intercompany borrowings		—			2			(687	)		685			—
Fixed-rate debit borrowings		1,484			—			—			—			1,484
Proceeds from issuance of common stock		2,258			—			—			—			2,258
Proceeds from issuance of mandatory convertible preferred stock		1,227			—			—			—			1,227
Dividends paid		(152	)		—			—			—			(152	)
Common stock activity		29			39			(41	)		2			29
Treasury stock activity, net		4			—			—			—			4
Cost of debt and equity transactions		(17	)		—			—			—			(17	)
Other		24			—			(1	)		—			23
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		4,857			41			(766	)		687			4,819
NET DECREASE IN CASH AND CASH EQUIVALENTS		(29	)		(2	)		(806	)		—			(837	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		647			2			1,399			—			2,048
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	618		$	—		$	593		$	—		$	1,211

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
September 30, 2011

					All Other
			Apache		Subsidiaries
	Apache		Finance		of Apache			Reclassifications
	Corporation		Canada		Corporation			& Eliminations			Consolidated
					(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	19	$	—	$	567		$	—		$	586
Receivables, net of allowance		665		—		1,895			—			2,560
Inventories		56		—		510			—			566
Drilling advances		11		1		265			—			277
Prepaid assets and other		3,548		—		(2,961	)		—			587
		4,299		1		276			—			4,576
PROPERTY AND EQUIPMENT, NET		12,498		—		28,638			—			41,136
OTHER ASSETS:
Intercompany receivable, net		3,447		—		(1,745	)		(1,702	)		—
Equity in affiliates		19,299		1,341		87			(20,727	)		—
Goodwill, net		—		—		1,032			—			1,032
Deferred charges and other		210		1,003		525			(1,000	)		738
	$	39,753	$	2,345	$	28,813		$	(23,429	)	$	47,482
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	522	$	1	$	2,031		$	(1,702	)	$	852
Current debt		400		—		17			—			417
Accrued exploration and development		297		—		1,032			—			1,329
Current asset retirement obligation		317		—		10			—			327
Derivative instruments		16		—		34			—			50
Accrued income taxes		68		—		199			—			267
Other accrued expenses		267		15		500			—			782
		1,887		16		3,823			(1,702	)		4,024
LONG-TERM DEBT		6,136		647		2			—			6,785
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Income taxes		2,195		4		3,336			—			5,535
Asset retirement obligation		1,086		—		1,517			—			2,603
Other		546		250		836			(1,000	)		632
		3,827		254		5,689			(1,000	)		8,770
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY		27,903		1,428		19,299			(20,727	)		27,903
	$	39,753	$	2,345	$	28,813		$	(23,429	)	$	47,482

APACHE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2010

					All Other
					Subsidiaries
	Apache		Apache		of Apache			Reclassifications
	Corporation		Finance Canada		Corporation			& Eliminations			Consolidated
					(In millions)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	6	$	—	$	128		$	—		$	134
Receivables, net of allowance		691		—		1,443			—			2,134
Inventories		55		—		509			—			564
Drilling advances		10		2		247			—			259
Prepaid assets and other		3,313		—		(2,924	)		—			389
		4,075		2		(597	)		—			3,480
PROPERTY AND EQUIPMENT, NET		11,314		—		26,837			—			38,151
OTHER ASSETS:
Intercompany receivable, net		4,695		—		(3,149	)		(1,546	)		—
Equity in affiliates		16,649		1,275		98			(18,022	)		—
Goodwill, net		—		—		1,032			—			1,032
Deferred charges and other		178		1,003		581			(1,000	)		762
	$	36,911	$	2,280	$	24,802		$	(20,568	)	$	43,425
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	480	$	2	$	1,843		$	(1,546	)	$	779
Accrued exploration and development		274		—		1,093			—			1,367
Current debt		16		—		30			—			46
Current asset retirement obligation		317		—		90			—			407
Derivative instruments		153		—		41			—			194
Accrued income taxes		42		—		(40	)		—			2
Other accrued expenses		358		3		368			—			729
		1,640		5		3,425			(1,546	)		3,524
LONG-TERM DEBT		7,447		647		1			—			8,095
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Income taxes		1,803		5		2,441			—			4,249
Asset retirement obligation		1,001		—		1,464			—			2,465
Other		643		250		822			(1,000	)		715
		3,447		255		4,727			(1,000	)		7,429
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY		24,377		1,373		16,649			(18,022	)		24,377
	$	36,911	$	2,280	$	24,802		$	(20,568	)	$	43,425