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CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents ($109 and $24 related to Altus VIE) $ 348 $ 262
Receivables, net of allowance of $99 and $95 1,167 908
Other current assets (Note 6) ($9 and $5 related to Altus VIE) 599 676
Accounts receivable from APA Corporation 55 0
Total current assets 2,169 1,846
PROPERTY AND EQUIPMENT:    
Oil and gas properties 40,205 41,819
Gathering, processing, and transmission facilities ($207 and $206 related to Altus VIE) 673 670
Other ($4 and $3 related to Altus VIE) 1,124 1,140
Less: Accumulated depreciation, depletion, and amortization ($22 and $13 related to Altus VIE) (33,889) (34,810)
Property and equipment, net 8,113 8,819
OTHER ASSETS:    
Equity method interests (Note 7) ($1,538 and $1,555 related to Altus VIE) 1,538 1,555
Decommissioning security for sold Gulf of Mexico properties (Note 12) 740 0
Deferred charges and other ($8 and $5 related to Altus VIE) 514 526
Note receivable from APA Corporation (Note 2) 1,352 0
Total assets 14,426 12,746
CURRENT LIABILITIES:    
Accounts payable ($9 and $6 related to Altus VIE) 643 444
Note payable to APA Corporation 243 0
Current debt 215 2
Other current liabilities (Note 8) ($15 and $4 related to Altus VIE) 937 862
Total current liabilities 2,038 1,308
LONG-TERM DEBT (Note 10) ($657 and $624 related to Altus VIE) 7,193 8,770
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:    
Income taxes 169 215
Asset retirement obligation, long-term 1,912 1,888
Decommissioning contingency for sold Gulf of Mexico properties (Note 12) 1,186 0
Other ($126 and $144 related to Altus VIE) 527 602
Total deferred credits and other noncurrent liabilities 3,794 2,705
REDEEMABLE NONCONTROLLING INTEREST - ALTUS PREFERRED UNIT LIMITED PARTNERS (Note 13) 635 608
EQUITY (DEFICIT):    
Common stock, $0.625 par, 1,000 and 860,000,000 shares authorized, respectively, 1,000 and 418,429,375 shares issued, respectively 0 262
Paid-in capital 9,532 11,735
Accumulated deficit (9,726) (10,461)
Treasury stock, at cost, 0 and 40,946,745 shares, respectively 0 (3,189)
Accumulated other comprehensive income 15 14
DEFICIT ATTRIBUTABLE TO APA CORPORATION (179) (1,639)
TOTAL EQUITY (DEFICIT) 766 (645)
TOTAL LIABILITIES AND EQUITY 14,426 12,746
Noncontrolling interests, Egypt    
EQUITY (DEFICIT):    
Noncontrolling interest 854 925
Noncontrolling Interest, Altus    
EQUITY (DEFICIT):    
Noncontrolling interest $ 91 $ 69