8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 29, 2007

APACHE CORPORATION

(Exact name of registrant as specified in Charter)

Delaware
(State or Other Jurisdiction
of Incorporation) 1-4300
(Commission
File Number) 41-0747868
(I.R.S. Employer
Identification Number)

2000 Post Oak Boulevard
Suite 100
Houston, Texas 77056-4400
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (713) 296-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))

o     Pre-Commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 8.01. Other Events

On March 29, 2007, Apache Corporation announced closed on the previously announced $1 billion acquisition of controlling interest in 28 producing oil and natural gas fields on more than 218,000 gross acres (approximately 143,000 net acres) with over 300 drilling locations in the Permian Basin of West Texas from Anadarko Petroleum Corporation. The full text of the press release announcing the closing of this transaction is listed under Item 9.01 as Item 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements, and Exhibits

(c) Exhibits.

Exhibit No.	Description
99.1	Press Release dated March 29, 2007, “Apache Closes $1 Billion Acquisition of 28 Anadarko Permian Fields.”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	APACHE CORPORATION
Date: March 30, 2007	/s/ John J. Christmann
	John J. Christmann
	Vice President

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release dated March 29, 2007, “Apache Closes $1 Billion Acquisition of 28 Anadarko Permian Fields.”

EX-99.1

Exhibit 99.1

CONTACTS:
(Media):	Tony Lentini (713/296-6227)
(Investors):	Robert Dye (713/296-6662)
	Dave Higgins (713/296-6690)
(Web site):	http://www.apachecorp.com

FOR IMMEDIATE RELEASE

APACHE CLOSES $1 BILLION ACQUISITION
OF 28 ANADARKO PERMIAN FIELDS

     Houston, March 29, 2007—Apache Corporation (NYSE, NASDAQ: APA) reported today’s closing on the previously announced $1 billion acquisition of controlling interest in 28 producing oil and natural gas fields on more than 218,000 gross acres (approximately 143,000 net acres) with over 300 drilling locations in the Permian Basin of West Texas from Anadarko Petroleum Corporation (NYSE: APC).

     Apache will book net reserves of 70 million barrels of oil equivalent (57 million barrels of oil and 78 billion cubic feet of natural gas); net daily production from the fields is estimated at 9,000 barrels of oil and 19 million cubic feet of gas. The acquisition adds 31 percent to the company’s existing Permian oil production and 24 percent to its gas production in the basin.

     “These assets fit well with our existing Permian Basin position and their long reserve life provides further balance for Apache’s worldwide portfolio,” said G. Steven Farris, president, chief executive and chief operating officer.

     The effective date of the transaction is March 29, 2007.

     Most of the asset value is concentrated in eight operated fields comprising 81 percent of the proved reserves and 72 percent of the net production.

     Apache is funding the acquisition with debt; after the transaction, the company’s debt remains less than 30 percent of total capitalization.

     Apache Corporation discovers and produces oil and natural gas in the United States, Canada, the United Kingdom North Sea, Egypt, Australia and Argentina.

-end-

     This news release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 including, without limitation, expectations, beliefs, plans and objectives regarding Apache’s reserves and production. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions and uncertainties. There is no assurance that Apache’s expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements. The press release also discusses probable and possible reserves, which are categories not recognized for purposes of Apache’s filings with the Securities Exchange Commission.