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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES AND OTHER:    
Oil and gas production revenues $ 0  
Derivative instrument gains (losses), net 158,000,000 $ (103,000,000)
Gain on divestitures, net 2,000,000 25,000,000
Other, net 61,000,000 13,000,000
Total revenues and other 2,092,000,000 1,279,000,000
OPERATING EXPENSES:    
Lease operating expenses 264,000,000 335,000,000
Taxes other than income 44,000,000 33,000,000
Exploration 46,000,000 57,000,000
General and administrative 83,000,000 68,000,000
Transaction, reorganization, and separation 0 27,000,000
Depreciation, depletion, and amortization 342,000,000 566,000,000
Asset retirement obligation accretion 28,000,000 27,000,000
Impairments 0 4,472,000,000
Financing costs, net [1] 107,000,000 103,000,000
Total operating expenses 1,466,000,000 5,845,000,000
NET INCOME (LOSS) BEFORE INCOME TAXES 626,000,000 (4,566,000,000)
Current income tax provision 149,000,000 89,000,000
Deferred income tax provision (benefit) 18,000,000 (33,000,000)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS 459,000,000 (4,622,000,000)
NET INCOME (LOSS) ATTRIBUTABLE TO APA CORPORATION 397,000,000 (4,480,000,000)
Altus Preferred Unit limited partners    
OPERATING EXPENSES:    
Net income (loss) attributable to noncontrolling interest 19,000,000 18,000,000
Noncontrolling interests, Egypt    
OPERATING EXPENSES:    
Net income (loss) attributable to noncontrolling interest 42,000,000 (151,000,000)
Noncontrolling interests, Altus    
OPERATING EXPENSES:    
Net income (loss) attributable to noncontrolling interest 1,000,000 (9,000,000)
Oil and gas    
REVENUES AND OTHER:    
Oil and gas production revenues 1,871,000,000 1,344,000,000
Oil and gas, excluding purchased    
REVENUES AND OTHER:    
Oil and gas production revenues 1,431,000,000 1,236,000,000
OPERATING EXPENSES:    
Cost of oil and gas purchased 58,000,000 71,000,000
Oil and gas, purchased    
REVENUES AND OTHER:    
Oil and gas production revenues 440,000,000 108,000,000
OPERATING EXPENSES:    
Cost of oil and gas purchased $ 494,000,000 $ 86,000,000
[1] Includes amounts of $5 million associated with APA Corporation for the first quarter of 2021. Refer to Note 2—Transactions with Parent Affiliate.