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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES AND OTHER:        
Derivative instrument losses, net $ 0 $ (32) $ 0 $ (94)
Gain (loss) on divestitures, net 5 (27) 6 1,149
Other, net 109 64 77 109
Total revenues and other 1,858 3,052 3,772 6,880
OPERATING EXPENSES:        
Lease operating expenses 352 359 666 703
Taxes other than income 47 78 97 148
Exploration 37 15 81 40
General and administrative 66 83 124 234
Transaction, reorganization, and separation 2 3 6 17
Depreciation, depletion, and amortization 339 278 647 569
Asset retirement obligation accretion 29 29 57 58
Impairments 46 0 46 0
Financing costs, net 42 62 91 202
Total operating expenses 1,166 1,529 2,310 3,025
NET INCOME BEFORE INCOME TAXES 692 1,523 1,462 3,855
Current income tax provision 254 415 600 807
Deferred income tax provision (benefit) (14) (21) 105 (62)
NET INCOME INCLUDING NONCONTROLLING INTERESTS 452 1,129 757 3,110
Net loss attributable to Altus Preferred Unit limited partners 0 0 0 (70)
NET INCOME ATTRIBUTABLE TO APACHE CORPORATION 290 903 427 2,750
Noncontrolling interest – Sinopec        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 81 141 165 260
Noncontrolling interest - Altus        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 0 0 0 14
Noncontrolling interest – APA Corporation        
OPERATING EXPENSES:        
Net income attributable to noncontrolling interest 81 85 165 156
Oil and gas        
REVENUES AND OTHER:        
Total revenues 1,744 3,047 3,689 5,716
Gathering, processing, and transmission costs        
REVENUES AND OTHER:        
Oil, natural gas, and natural gas liquids production revenues [1] 1,600 2,525 3,306 4,845
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] 75 94 148 175
Purchased oil and gas sales        
REVENUES AND OTHER:        
Purchased oil and gas sales [1] 144 522 383 871
OPERATING EXPENSES:        
Gathering, processing, and transmission/Purchased oil and gas costs [1] $ 131 $ 528 $ 347 $ 879
[1] For transactions associated with Kinetik, refer to Note 7—Equity Method Interests for further detail.