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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income including noncontrolling interests $ 3,110 $ 890
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized derivative instrument losses, net 83 55
Gain on divestitures, net (1,149) (67)
Exploratory dry hole expense and unproved leasehold impairments 15 46
Depreciation, depletion, and amortization 569 693
Asset retirement obligation accretion 58 56
Benefit from deferred income taxes (62) (22)
(Gain) loss on extinguishment of debt 67 (1)
Other, net (119) (34)
Changes in operating assets and liabilities:    
Receivables (501) (173)
Inventories (18) 20
Drilling advances and other current assets 28 32
Deferred charges and other long-term assets (11) (18)
Accounts payable 185 145
Accounts payable to APA Corporation (54) 13
Accrued expenses 201 17
Deferred credits and noncurrent liabilities (2) (17)
NET CASH PROVIDED BY OPERATING ACTIVITIES 2,400 1,635
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to upstream oil and gas property (635) (488)
Leasehold and property acquisitions (26) (3)
Proceeds from sale of oil and gas properties 751 181
Proceeds from sale of Kinetik shares 224 0
Deconsolidation of Altus cash and cash equivalents (143) 0
Other, net 2 (13)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 173 (323)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Apache credit facility, net 138 (150)
Proceeds from Altus credit facility, net 0 33
Payments on note payable to APA Corporation, net (486) 0
Payments on fixed-rate debt (1,370) (20)
Distributions to noncontrolling interest - Sinopec (159) (60)
Distributions to Altus Preferred Unit limited partners (11) (23)
Distributions to APA Corporation (733) (302)
Dividends paid 0 (9)
Other, net (3) (21)
NET CASH USED IN FINANCING ACTIVITIES (2,624) (552)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (51) 760
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 279 262
CASH AND CASH EQUIVALENTS AT END OF PERIOD 228 1,022
SUPPLEMENTARY CASH FLOW DATA:    
Interest paid, net of capitalized interest 176 233
Income taxes paid, net of refunds 637 231
Non-cash financing adjustment: APA’s assumption of Apache’s borrowings on its syndicated credit facility $ 680 $ 0