BUSINESS SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

As of March 31, 2021, the Company is engaged in exploration and production (Upstream) activities across three operating segments: Egypt, North Sea, and U.S. The Company’s Upstream business explores for, develops, and produces crude oil, natural gas, and natural gas liquids. Apache’s Midstream business is operated by Altus Midstream Company, which owns, develops, and operates a midstream energy asset network in the Permian Basin of West Texas. Financial information for each segment is presented below:

	Egypt		North Sea		U.S.		Altus Midstream		Intersegment Eliminations & Other(1)		Total(2)
	Upstream
For the Quarter Ended March 31, 2021	(In millions)
Revenues:
Oil revenues	$	402	$	241	$	348	$	—	$	—	$	991
Natural gas revenues	70		31		211		—		—		312
Natural gas liquids revenues	2		6		120		—		—		128
Oil, natural gas, and natural gas liquids production revenues	474		278		679		—		—		1,431
Purchased oil and gas sales	—		—		437		3		—		440
Midstream service affiliate revenues	—		—		—		32		(32)		—
	474		278		1,116		35		(32)		1,871
Operating Expenses:
Lease operating expenses	104		75		86		—		(1)		264
Gathering, processing, and transmission	1		12		69		7		(31)		58
Purchased oil and gas costs	—		—		492		2		—		494
Taxes other than income	—		—		40		4		—		44
Exploration	8		20		16		—		2		46
Depreciation, depletion, and amortization	130		84		125		3		—		342
Asset retirement obligation accretion	—		19		8		1		—		28
Impairments	—		—		—		—		—		—
	243		210		836		17		(30)		1,276
Operating Income (Loss)(3)	$	231	$	68	$	280	$	18	$	(2)	595
Other Income (Expense):
Derivative instrument gains, net											158
Gain on divestitures, net											2
Other											61
General and administrative											(83)
Financing costs, net											(107)
Income Before Income Taxes											$	626
Total Assets(4)	$	3,020	$	2,167	$	6,959	$	1,828	$	1	$	13,975

	Egypt		North Sea		U.S.		Altus Midstream		Intersegment Eliminations & Other(1)		Total(2)
	Upstream
For the Quarter Ended March 31, 2020	(In millions)
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											25
Other											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

(1)On March 1, 2021, the Company sold its Suriname and Dominican Republic operations to APA. Refer to Note 2—Transactions with Parent Affiliate for more details on the transaction.

(2)Includes a noncontrolling interest in Egypt and Altus.

(3)The operating income (loss) of U.S. and Egypt includes leasehold and other asset impairments totaling $16 million and $2 million, respectively, for the first quarter of 2021. 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.

(4)Intercompany balances are excluded from total assets.