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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) including noncontrolling interests $ 459,000,000 $ (4,622,000,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Unrealized derivative instrument losses (gains), net (10,000,000) 103,000,000
Gain on divestitures, net (2,000,000) (25,000,000)
Exploratory dry hole expense and unproved leasehold impairments 37,000,000 43,000,000
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
Provision for (benefit from) deferred income taxes 18,000,000 (33,000,000)
Other (25,000,000) (8,000,000)
Changes in operating assets and liabilities:    
Receivables (166,000,000) 221,000,000
Inventories (3,000,000) 30,000,000
Drilling advances and other current assets 12,000,000 (26,000,000)
Deferred charges and other long-term assets (13,000,000) (7,000,000)
Accounts payable 73,000,000 (80,000,000)
Accounts payable to APA Corporation 15,000,000 0
Accrued expenses (64,000,000) (173,000,000)
Deferred credits and noncurrent liabilities (10,000,000) 14,000,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 691,000,000 502,000,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to upstream oil and gas property (237,000,000) (511,000,000)
Additions to Altus gathering, processing, and transmission (GPT) facilities (1,000,000) (19,000,000)
Leasehold and property acquisitions (2,000,000) (1,000,000)
Contributions to Altus equity method interests (21,000,000) (83,000,000)
Proceeds from sale of oil and gas properties 3,000,000 126,000,000
Other, net 7,000,000 (21,000,000)
NET CASH USED IN INVESTING ACTIVITIES (251,000,000) (509,000,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments on) Apache credit facility, net (85,000,000) 250,000,000
Proceeds from Altus credit facility, net 33,000,000 72,000,000
Payments on fixed-rate debt (6,000,000) 0
Distributions to noncontrolling interest - Egypt (40,000,000) (32,000,000)
Distributions to Altus Preferred Unit limited partners (11,000,000) 0
Distributions to APA Corporation (292,000,000)
Dividends paid (9,000,000) (94,000,000)
Other (11,000,000) (8,000,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (421,000,000) 188,000,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 19,000,000 181,000,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 262,000,000 247,000,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 281,000,000 428,000,000
SUPPLEMENTARY CASH FLOW DATA:    
Interest paid, net of capitalized interest 113,000,000 126,000,000
Income taxes paid, net of refunds $ 124,000,000 $ 98,000,000