XML 11 R22.htm IDEA: XBRL DOCUMENT v3.20.1
BUSINESS SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION
BUSINESS SEGMENT INFORMATION
As of March 31, 2020, Apache is engaged in exploration and production (Upstream) activities across three operating segments: Egypt, North Sea, and the U.S. Apache also has exploration interests in Suriname and other international locations that may, over time, result in reportable discoveries and development opportunities. Apache’s Upstream business explores for, develops, and produces natural gas, crude oil and natural gas liquids. Apache’s midstream business is operated by Altus, which owns, develops, and operates a midstream energy asset network in the Permian Basin of West Texas, anchored by midstream service contracts to Apache’s production from its Alpine High resource play. Additionally, Altus owns equity interests in a total of four Permian Basin pipelines that will access various points along the Texas Gulf Coast, providing it with fully integrated, wellhead-to-water connectivity. Financial information for each segment is presented below:
 
 
Egypt(1)
 
North Sea
 
U.S.
 
Altus
 
Intersegment Eliminations & Other
 
Total(2)
 
 
Upstream
 
Midstream
 
 
 
 
(In millions)
For the Quarter Ended March 31, 2020
 
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Oil revenues
 
$
333

 
$
271

 
$
428

 
$
—

 
$
—

 
$
1,032

Natural gas revenues
 
65

 
19

 
39

 
—

 
—

 
123

Natural gas liquids revenues
 
3

 
7

 
71

 
—

 
—

 
81

Oil, natural gas, and natural gas liquids production revenues
 
401

 
297

 
538

 
—

 
—

 
1,236

Purchased oil and gas sales
 
—

 
—

 
108

 
—

 
—

 
108

Midstream service affiliate revenues
 
—

 
—

 
—

 
41

 
(41
)
 
—

 
 
401

 
297

 
646

 
41

 
(41
)
 
1,344

Operating Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Lease operating expenses
 
112

 
81

 
143

 
—

 
(1
)
 
335

Gathering, processing, and transmission
 
10

 
16

 
74

 
11

 
(40
)
 
71

Purchased oil and gas costs
 
—

 
—

 
86

 
—

 
—

 
86

Taxes other than income
 
—

 
—

 
30

 
3

 
—

 
33

Exploration
 
18

 
2

 
35

 
—

 
2

 
57

Depreciation, depletion, and amortization
 
161

 
109

 
293

 
3

 
—

 
566

Asset retirement obligation accretion
 
—

 
18

 
8

 
1

 
—

 
27

Impairments
 
509

 
7

 
3,956

 
—

 
—

 
4,472

 
 
810

 
233

 
4,625

 
18

 
(39
)
 
5,647

Operating Income (Loss)(3)
 
$
(409
)
 
$
64

 
$
(3,979
)
 
$
23

 
$
(2
)
 
(4,303
)
Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instrument losses, net
 
 
 
 
 
 
 
 
 
 
 
(103
)
Gain on divestitures, net
 
 
 
 
 
 
 
 
 
 
 
25

Other, net
 
 
 
 
 
 
 
 
 
 
 
13

General and administrative
 
 
 
 
 
 
 
 
 
 
 
(68
)
Transaction, reorganization, and separation
 
 
 
 
 
 
 
 
 
 
 
(27
)
Financing costs, net
 
 
 
 
 
 
 
 
 
 
 
(103
)
Loss Before Income Taxes
 
 
 
 
 
 
 
 
 
 
 
$
(4,566
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets(4)
 
$
3,151

 
$
2,366

 
$
6,225

 
$
1,574

 
$
75

 
$
13,391

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Egypt(1)
 
North Sea
 
U.S.
 
Altus
 
Intersegment Eliminations & Other
 
Total(2)
 
 
Upstream
 
Midstream
 
 
 
 
(In millions)
For the Quarter Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
Oil revenues
 
$
514

 
$
300

 
$
496

 
$
—

 
$
—

 
$
1,310

Natural gas revenues
 
81

 
32

 
123

 
—

 
—

 
236

Natural gas liquids revenues
 
4

 
6

 
98

 
—

 
—

 
108

Oil, natural gas, and natural gas liquids production revenues
 
599

 
338

 
717

 
—

 
—

 
1,654

Purchased oil and gas sales
 
—

 
—

 
24

 
—

 
—

 
24

Midstream service affiliate revenues
 
—

 
—

 
—

 
34

 
(34
)
 
—

 
 
599

 
338

 
741

 
34

 
(34
)
 
1,678

Operating Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Lease operating expenses
 
118

 
72

 
176

 
—

 
(1
)
 
365

Gathering, processing, and transmission
 
12

 
12

 
81

 
16

 
(33
)
 
88

Purchased oil and gas costs
 
—

 
—

 
22

 
—

 
—

 
22

Taxes other than income
 
—

 
—

 
48

 
3

 
—

 
51

Exploration
 
32

 
1

 
33

 
—

 
3

 
69

Depreciation, depletion, and amortization
 
188

 
99

 
352

 
7

 
—

 
646

Asset retirement obligation accretion
 
—

 
19

 
8

 
—

 
—

 
27

 
 
350

 
203

 
720

 
26

 
(31
)
 
1,268

Operating Income (Loss)(3)
 
$
249

 
$
135

 
$
21

 
$
8

 
$
(3
)
 
410

Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instrument losses, net
 
 
 
 
 
 
 
 
 
 
 
(30
)
Gain on divestitures, net
 
 
 
 
 
 
 
 
 
 
 
3

Other, net
 
 
 
 
 
 
 
 
 
 
 
6

General and administrative
 
 
 
 
 
 
 
 
 
 
 
(123
)
Transaction, reorganization, and separation
 
 
 
 
 
 
 
 
 
 
 
(4
)
Financing costs, net
 
 
 
 
 
 
 
 
 
 
 
(97
)
Income Before Income Taxes
 
 
 
 
 
 
 
 
 
 
 
$
165

 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets(4)
 
$
4,065

 
$
2,601

 
$
13,205

 
$
1,825

 
$
55

 
$
21,751

 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes revenue from non-customer of:
 
 
For the Quarter Ended March 31,
 
 
2020
 
2019
 
 
(In millions)
Oil
 
$
45

 
$
107

Natural gas
 
3

 
11

Natural gas liquids
 
—

 
1

(2)
Includes a noncontrolling interest in Egypt and Altus.
(3)
The operating income (loss) of U.S., Egypt, and North Sea includes leasehold and other asset impairments totaling $4.0 billion, $511 million, and $7 million, respectively, for the first quarter of 2020. The operating income of U.S. and North Sea includes leasehold and unproved impairments totaling $21 million and $2 million, respectively, for the first quarter of 2019.
(4)
Intercompany balances are excluded from total assets.