XML 109 R47.htm IDEA: XBRL DOCUMENT

SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Revenue and Direct Cost Information Relating to Company's Oil and Gas Exploration and Production Activities

The following table sets forth revenue and direct cost information relating to the Company’s oil and gas exploration and production activities. Apache has no long-term agreements to purchase oil or gas production from foreign governments or authorities.



	United States			Canada⁽³⁾			Egypt⁽⁴⁾		North Sea			Other International			Total⁽⁴⁾
	(In millions, except per boe)
2019
Oil and gas production revenues	$	2,763		$	—		$	2,276	$	1,276		$	—		$	6,315
Operating cost:
Depreciation, depletion, and amortization⁽¹⁾	1,508			—			641		363			—			2,512
Asset retirement obligation accretion	29			—			—		76			—			105
Lease operating expenses	645			—			484		320			—			1,449
Gathering, processing, and transmission	299			—			40		45			—			384
Exploration expenses	688			—			100		2			15			805
Impairments related to oil and gas properties	1,633			—			—		—			—			1,633
Production taxes⁽²⁾	191			—			—		—			—			191
Income tax	(468		)	—			455		188			—			175
	4,525			—			1,720		994			15			7,254
Results of operations	$	(1,762	)	$	—		$	556	$	282		$	(15	)	$	(939	)
2018
Oil and gas production revenues	$	3,279		$	—		$	2,748	$	1,321		$	—		$	7,348
Operating cost:
Depreciation, depletion, and amortization⁽¹⁾	1,206			—			688		371			—			2,265
Asset retirement obligation accretion	32			—			—		75			—			107
Lease operating expenses	670			—			428		341			—			1,439
Gathering, processing, and transmission	282			—			47		42			—			371
Exploration expenses	219			—			88		192			4			503
Impairments related to oil and gas properties	265			—			63		10			—			338
Production taxes⁽²⁾	203			—			—		—			—			203
Income tax	87			—			645		116			—			848
	2,964			—			1,959		1,147			4			6,074
Results of operations	$	315		$	—		$	789	$	174		$	(4	)	$	1,274
2017
Oil and gas production revenues	$	2,271		$	231		$	2,307	$	1,078		$	—		$	5,887
Operating cost:
Depreciation, depletion, and amortization⁽¹⁾	924			72			707		433			—			2,136
Asset retirement obligation accretion	31			27			—		72			—			130
Lease operating expenses	584			103			362		335			—			1,384
Gathering, processing, and transmission	86			34			44		30			—			194
Exploration expenses	363			11			62		86			27			549
Production taxes⁽²⁾	153			11			—		(14		)	—			150
Income tax	45			(7		)	509		54			—			601
	2,186			251			1,684		996			27			5,144
Results of operations	$	85		$	(20	)	$	623	$	82		$	(27	)	$	743


(1)	This amount only reflects DD&A of capitalized costs of oil and gas properties and, therefore, does not agree with DD&A reflected on Note 17—Business Segment Information.


(2)	Only reflects amounts directly related to oil and gas producing properties and, therefore, does not agree with taxes other than income reflected on Note 17—Business Segment Information.


(3)	During the third quarter of 2017, Apache completed the sale of its Canadian operations. For more information regarding this divestiture, please refer to Note 2—Acquisitions and Divestitures

(4)

Includes noncontrolling interest in Egypt.

Costs Incurred in Oil and Gas Property Acquisitions, Exploration and Development Activities

Costs Incurred in Oil and Gas Property Acquisitions, Exploration, and Development Activities



	United States		Canada		Egypt⁽²⁾		North Sea			Other International		Total⁽²⁾
	(In millions)
2019
Acquisitions:
Proved	$	3	$	—	$	5	$	—		$	—	$	8
Unproved	47		—		10		—			—		57
Exploration	162		—		139		62			105		468
Development	1,500		—		374		119			3		1,996
Costs incurred⁽¹⁾	$	1,712	$	—	$	528	$	181		$	108	$	2,529
⁽¹⁾ Includes capitalized interest and asset retirement costs as follows:
Capitalized interest	$	23	$	—	$	—	$	5		$	4	$	32
Asset retirement costs	14		—		—		(111		)	—		(97		)
2018
Acquisitions:
Proved	$	—	$	—	$	6	$	—		$	—	$	6
Unproved	111		—		16		—			—		127
Exploration	640		—		175		113			12		940
Development	1,791		—		457		133			—		2,381
Costs incurred⁽¹⁾	$	2,542	$	—	$	654	$	246		$	12	$	3,454
⁽¹⁾Includes capitalized interest and asset retirement costs as follows:
Capitalized interest	$	23	$	—	$	—	$	11		$	2	$	36
Asset retirement costs	93		—		—		(62		)	—		31
2017
Acquisitions:
Proved	$	3	$	—	$	4	$	—		$	—	$	7
Unproved	136		5		40		—			—		181
Exploration	602		11		122		131			25		891
Development	1,118		52		387		250			—		1,807
Costs incurred⁽¹⁾	$	1,859	$	68	$	553	$	381		$	25	$	2,886
⁽¹⁾ Includes capitalized interest and asset retirement costs as follows:
Capitalized interest	$	23	$	2	$	—	$	17		$	2	$	44
Asset retirement costs	15		—		—		55			—		70
⁽²⁾ Includes a noncontrolling interest in Egypt.

The following table sets forth the capitalized costs and associated accumulated depreciation, depletion, and amortization relating to the Company’s oil and gas acquisition, exploration, and development activities:



	United States			Egypt⁽¹⁾			North Sea			Other International		Total⁽¹⁾
	(In millions)
2019
Proved properties	$	20,291		$	11,614		$	8,635		$	—	$	40,540
Unproved properties	509			109			10			38		666
	20,800			11,723			8,645			38		41,206
Accumulated DD&A	(11,783		)	(9,377		)	(6,700		)	—		(27,860		)
	$	9,017		$	2,346		$	1,945		$	38	$	13,346
2018
Proved properties	$	22,699		$	11,184		$	8,462		$	—	$	42,345
Unproved properties	1,275			110			5			45		1,435
	23,974			11,294			8,467			45		43,780
Accumulated DD&A	(12,217		)	(8,736		)	(6,332		)	—		(27,285		)
	$	11,757		$	2,558		$	2,135		$	45	$	16,495
⁽¹⁾ Includes a noncontrolling interest in Egypt.

Proved Reserve Data

There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures. The reserve data in the following tables only represent estimates and should not be construed as being exact.



	Crude Oil and Condensate
	(Thousands of barrels)
	United States		Canada		Egypt⁽¹⁾		North Sea		Total⁽¹⁾
Proved developed reserves:
December 31, 2016	300,900		51,508		138,771		91,138		582,317
December 31, 2017	304,279		—		124,568		92,598		521,445
December 31, 2018	300,484		—		110,014		104,491		514,989
December 31, 2019	278,145		—		103,573		101,712		483,430
Proved undeveloped reserves:
December 31, 2016	21,088		7,906		20,187		10,784		59,965
December 31, 2017	31,904		—		16,198		14,013		62,115
December 31, 2018	45,182		—		9,484		11,278		65,944
December 31, 2019	46,716		—		10,831		10,049		67,596
Total proved reserves:
Balance December 31, 2016	321,988		59,414		158,958		101,922		642,282
Extensions, discoveries and other additions	48,391		14,025		27,140		16,023		105,579
Purchases of minerals in-place	46		375		—		—		421
Revisions of previous estimates	825		1,829		(9,839	)	6,510		(675	)
Production	(33,394	)	(2,425	)	(35,493	)	(17,844	)	(89,156	)
Sales of minerals in-place	(1,673	)	(73,218	)	—		—		(74,891	)
Balance December 31, 2017	336,183		—		140,766		106,611		583,560
Extensions, discoveries and other additions	61,976		—		22,473		15,682		100,131
Purchases of minerals in-place	140		—		—		—		140
Revisions of previous estimates	(14,334	)	—		(9,556	)	10,613		(13,277	)
Production	(38,252	)	—		(34,185	)	(17,137	)	(89,574	)
Sales of minerals in-place	(47	)	—		—		—		(47	)
Balance December 31, 2018	345,666		—		119,498		115,769		580,933
Extensions, discoveries and other additions	52,297		—		21,039		9,017		82,353
Purchases of minerals in-place	—		—		—		—		—
Revisions of previous estimates	(16,446	)	—		4,752		5,132		(6,562	)
Production	(38,344	)	—		(30,885	)	(18,157	)	(87,386	)
Sales of minerals in-place	(18,312	)	—		—		—		(18,312	)
Balance December 31, 2019	324,861		—		114,404		111,761		551,026


(1)	2019, 2018, 2017, and 2016 includes proved reserves of 38 MMbbls, 40 MMbbls, 47 MMbbls, and 53 MMbbls, respectively, attributable to a noncontrolling interest in Egypt.



	Natural Gas Liquids
	(Thousands of barrels)
	United States		Canada		Egypt⁽¹⁾		North Sea		Total⁽¹⁾
Proved developed reserves:
December 31, 2016	155,124		13,866		1,266		1,627		171,883
December 31, 2017	171,005		—		685		2,025		173,715
December 31, 2018	197,574		—		502		1,938		200,014
December 31, 2019	158,794		—		667		2,317		161,778
Proved undeveloped reserves:
December 31, 2016	17,311		2,473		131		646		20,561
December 31, 2017	29,559		—		39		353		29,951
December 31, 2018	33,796		—		60		631		34,487
December 31, 2019	23,569		—		90		660		24,319
Total proved reserves:
Balance December 31, 2016	172,435		16,339		1,397		2,273		192,444
Extensions, discoveries and other additions	33,806		1,794		50		845		36,495
Purchases of minerals in-place	206		199		—		—		405
Revisions of previous estimates	12,982		(1,060	)	(425	)	(321	)	11,176
Production	(17,766	)	(1,032	)	(298	)	(419	)	(19,515	)
Sales of minerals in-place	(1,099	)	(16,240	)	—		—		(17,339	)
Balance December 31, 2017	200,564		—		724		2,378		203,666
Extensions, discoveries and other additions	60,990		—		144		1,444		62,578
Purchases of minerals in-place	40		—		—		—		40
Revisions of previous estimates	(9,250	)	—		31		(819	)	(10,038	)
Production	(20,969	)	—		(337	)	(434	)	(21,740	)
Sales of minerals in-place	(5	)	—		—		—		(5	)
Balance December 31, 2018	231,370		—		562		2,569		234,501
Extensions, discoveries and other additions	41,343		—		27		697		42,067
Purchases of minerals in-place	—		—		—		—		—
Revisions of previous estimates	(32,569	)	—		508		345		(31,716	)
Production	(24,959	)	—		(340	)	(634	)	(25,933	)
Sales of minerals in-place	(32,822	)	—		—		—		(32,822	)
Balance December 31, 2019	182,363		—		757		2,977		186,097

(1) 2019, 2018, 2017, and 2016 includes proved reserves of 252 Mbbls, 187 Mbbls, 241 Mbbls, and 466 Mbbls, respectively, attributable to a noncontrolling interest in Egypt.



	Natural Gas
	(Millions of cubic feet)
	United States		Canada		Egypt⁽¹⁾		North Sea		Total⁽¹⁾
Proved developed reserves:
December 31, 2016	1,200,379		553,724		675,559		86,948		2,516,610
December 31, 2017	1,347,009		—		540,667		83,342		1,971,018
December 31, 2018	1,626,403		—		476,132		95,347		2,197,882
December 31, 2019	945,938		—		433,382		106,329		1,485,649
Proved undeveloped reserves:
December 31, 2016	231,304		45,312		42,109		23,813		342,538
December 31, 2017	297,226		—		47,255		11,063		355,544
December 31, 2018	267,090		—		33,006		15,804		315,900
December 31, 2019	115,040		—		24,704		16,604		156,348
Total proved reserves:
Balance December 31, 2016	1,431,683		599,036		717,668		110,761		2,859,148
Extensions, discoveries and other additions	378,747		49,780		81,245		17,646		527,418
Purchases of minerals in-place	4,434		4,319		—		—		8,753
Revisions of previous estimates	(5,431	)	92,207		(70,030	)	(17,387	)	(641	)
Production	(143,943	)	(47,990	)	(140,961	)	(16,615	)	(349,509	)
Sales of minerals in-place	(21,255	)	(697,352	)	—		—		(718,607	)
Balance December 31, 2017	1,644,235		—		587,922		94,405		2,326,562
Extensions, discoveries and other additions	704,135		—		79,394		55,274		838,803
Purchases of minerals in-place	906		—		—		—		906
Revisions of previous estimates	(239,204	)	—		(38,892	)	(21,933	)	(300,029	)
Production	(216,538	)	—		(119,286	)	(16,595	)	(352,419	)
Sales of minerals in-place	(41	)	—		—		—		(41	)
Balance December 31, 2018	1,893,493		—		509,138		111,151		2,513,782
Extensions, discoveries and other additions	249,205		—		34,758		27,711		311,674
Purchases of minerals in-place	—		—		—		—		—
Revisions of previous estimates	(509,753	)	—		18,570		4,015		(487,168	)
Production	(233,447	)	—		(104,380	)	(19,944	)	(357,771	)
Sales of minerals in-place	(338,520	)	—		—		—		(338,520	)
Balance December 31, 2019	1,060,978		—		458,086		122,933		1,641,997

(1) 2019, 2018, 2017, and 2016 include proved reserves of 153 Bcf, 170 Bcf, 196 Bcf, and 239 Bcf, respectively, attributable to a noncontrolling interest in Egypt.



	Total Equivalent Reserves
	(Thousands barrels of oil equivalent)
	United States		Canada		Egypt⁽¹⁾		North Sea		Total⁽¹⁾
Proved developed reserves:
December 31, 2016	656,087		157,662		252,630		107,256		1,173,635
December 31, 2017	699,786		—		215,364		108,513		1,023,663
December 31, 2018	769,125		—		189,871		122,320		1,081,316
December 31, 2019	594,595		—		176,470		121,751		892,816
Proved undeveloped reserves:
December 31, 2016	76,950		17,931		27,336		15,399		137,616
December 31, 2017	111,001		—		24,112		16,210		151,323
December 31, 2018	123,493		—		15,045		14,543		153,081
December 31, 2019	89,458		—		15,038		13,476		117,972
Total proved reserves:
Balance December 31, 2016	733,037		175,593		279,966		122,655		1,311,251
Extensions, discoveries and other additions	145,322		24,115		40,731		19,809		229,977
Purchases of minerals in-place	991		1,294		—		—		2,285
Revisions of previous estimates	12,903		16,136		(21,936	)	3,291		10,394
Production	(75,151	)	(11,455	)	(59,285	)	(21,032	)	(166,923	)
Sales of minerals in-place	(6,315	)	(205,683	)	—		—		(211,998	)
Balance December 31, 2017	810,787		—		239,476		124,723		1,174,986
Extensions, discoveries and other additions	240,322		—		35,849		26,338		302,509
Purchases of minerals in-place	331		—		—		—		331
Revisions of previous estimates	(63,451	)	—		(16,007	)	6,139		(73,319	)
Production	(95,312	)	—		(54,402	)	(20,337	)	(170,051	)
Sales of minerals in-place	(59	)	—		—		—		(59	)
Balance December 31, 2018	892,618		—		204,916		136,863		1,234,397
Extensions, discoveries and other additions	135,174		—		26,859		14,333		176,366
Purchases of minerals in-place	—		—		—		—		—
Revisions of previous estimates	(133,974	)	—		8,355		6,146		(119,473	)
Production	(102,211	)	—		(48,622	)	(22,115	)	(172,948	)
Sales of minerals in-place	(107,554	)	—		—		—		(107,554	)
Balance December 31, 2019	684,053		—		191,508		135,227		1,010,788

(1) 2019, 2018, 2017, and 2016 include total proved reserves of 64 MMboe, 68 MMboe, 80MMboe, and 93 MMboe, respectively, attributable to a noncontrolling interest in Egypt.

Unaudited Information of Future Net Cash Flows For Oil and Gas Reserves, Net of Income Tax Expense

The following table sets forth unaudited information concerning future net cash flows for proved oil and gas reserves, net of income tax expense. Income tax expense has been computed using expected future tax rates and giving effect to tax deductions and credits available, under current laws, and which relate to oil and gas producing activities. This information does not purport to present the fair market value of the Company’s oil and gas assets, but does present a standardized disclosure concerning possible future net cash flows that would result under the assumptions used.



	United States			Egypt⁽²⁾			North Sea			Total⁽²⁾
	(In millions)
2019
Cash inflows	$	21,694		$	8,306		$	7,454		$	37,454
Production costs	(10,642		)	(1,847		)	(2,730		)	(15,219		)
Development costs	(1,740		)	(707		)	(2,651		)	(5,098		)
Income tax expense	(27		)	(1,930		)	(784		)	(2,741		)
Net cash flows	9,285			3,822			1,289			14,396
10 percent discount rate	(4,003		)	(808		)	297			(4,514		)
Discounted future net cash flows⁽¹⁾	$	5,282		$	3,014		$	1,586		$	9,882
2018
Cash inflows	$	29,906		$	9,866		$	9,206		$	48,978
Production costs	(13,699		)	(1,799		)	(2,588		)	(18,086		)
Development costs	(2,150		)	(792		)	(2,714		)	(5,656		)
Income tax expense	(19		)	(2,455		)	(1,352		)	(3,826		)
Net cash flows	14,038			4,820			2,552			21,410
10 percent discount rate	(6,516		)	(1,066		)	(107		)	(7,689		)
Discounted future net cash flows⁽¹⁾	$	7,522		$	3,754		$	2,445		$	13,721
2017
Cash inflows	$	24,271		$	9,254		$	6,230		$	39,755
Production costs	(10,618		)	(1,749		)	(2,459		)	(14,826		)
Development costs	(1,659		)	(1,052		)	(2,795		)	(5,506		)
Income tax expense	(42		)	(2,078		)	(353		)	(2,473		)
Net cash flows	11,952			4,375			623			16,950
10 percent discount rate	(6,080		)	(1,034		)	247			(6,867		)
Discounted future net cash flows⁽¹⁾	$	5,872		$	3,341		$	870		$	10,083


(1)	Estimated future net cash flows before income tax expense, discounted at 10 percent per annum, totaled approximately $12.4 billion, $16.9 billion, and $12.2 billion as of December 31, 2019, 2018, and 2017, respectively.

(2)

Includes discounted future net cash flows of approximately $1.0 billion, $1.3 billion, and $1.1 billion in 2019, 2018, and 2017, respectively, attributable to a noncontrolling interest in Egypt.

Principal Sources of Change In Discounted Future Net Cash Flows

The following table sets forth the principal sources of change in the discounted future net cash flows:



	For the Year Ended December 31,
	2019			2018			2017
	(In millions)
Sales, net of production costs	$	(4,291	)	$	(5,335	)	$	(4,158	)
Net change in prices and production costs	(3,034		)	3,902			3,651
Discoveries and improved recovery, net of related costs	2,042			3,889			2,273
Change in future development costs	(75		)	47			(279		)
Previously estimated development costs incurred during the period	983			910			719
Revision of quantities	(741		)	(648		)	(344		)
Purchases of minerals in-place	—			6			9
Accretion of discount	1,693			1,216			952
Change in income taxes	720			(1,125		)	(617		)
Sales of minerals in-place	(817		)	(1		)	(809		)
Change in production rates and other	(319		)	777			626
	$	(3,839	)	$	3,638		$	2,023

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details