EQUITY METHOD INTERESTS

3 Months Ended

Mar. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Apache, through its ownership of Altus, consolidates the following equity method interests in Permian Basin pipelines. For each of the equity method interests, Altus has the ability to exercise significant influence based on certain governance provisions and its participation in the significant activities and decisions that impact the management and economic performance of the equity method interests.



	March 31, 2019				December 31, 2018
	Interest		Amount		Interest		Amount
	($ in millions)
Gulf Coast Express Pipeline LLC	15.0	%	$	157	15.0	%	$	91
EPIC Crude Holdings, LP	15.0	%	52		—		—
			$	209			$	91

The equity method interest balance as of March 31, 2019 and December 31, 2018 were $1 million and $6 million, respectively, less than Apache’s underlying equity in the separate net assets within the financial statements of the respective entities. Unamortized differences will be amortized into net income over the remaining useful lives of the associated pipelines, when they are placed into service.

The following table presents the activity in Apache’s equity method interests for the three months ended March 31, 2019:



	Gulf Coast Express Pipeline LLC		EPIC Crude Holdings, LP		Total
	(In millions)
Balance at December 31, 2018	$	91	$	—	$	91
Acquisitions	—		52		52
Contributions	66		—		66
Balance at March 31, 2019	$	157	$	52	$	209

As of December 31, 2018, Apache also held an investment in Marine Well Containment Company. This investment was sold in the first quarter of 2019 for $30 million, with no gain or loss recorded on the sale.