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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income including noncontrolling interests $ 3,230 $ 4,222 $ 1,402
Adjustments to reconcile net income to net cash provided by operating activities:      
Unrealized derivative instrument losses (gains), net 0 23 (69)
Gain on divestitures, net (8) (1,180) (67)
Exploratory dry hole expense and unproved leasehold impairments 108 92 86
Depreciation, depletion, and amortization 1,399 1,177 1,360
Asset retirement obligation accretion 116 117 113
Impairments 61 0 208
Provision for (benefit from) deferred income taxes (1,652) 145 (74)
(Gain) loss from extinguishment of debt (9) 67 104
Losses on previously sold Gulf of Mexico properties 212 157 446
Other (85) (137) (23)
Changes in operating assets and liabilities:      
Receivables (146) (55) (393)
Inventories 13 (1) (9)
Drilling advances and other current assets 287 (12) 60
Deferred charges and other long-term assets 269 70 (42)
Accounts payable (86) 12 205
Receivable/payable with APA Corporation (52) 0 40
Accrued expenses (401) 293 127
Deferred credits and noncurrent liabilities (327) (138) 31
NET CASH PROVIDED BY OPERATING ACTIVITIES 2,929 4,852 3,505
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to upstream oil and gas property (1,931) (1,503) (934)
Leasehold and property acquisitions (20) (37) (9)
Noncurrent receivable from APA Corporation (680) (832) 0
Proceeds from asset divestitures 29 778 256
Proceeds from sale of Kinetik shares 228 224 0
Deconsolidation of Altus cash and cash equivalents 0 (143) 0
Other, net (38) 28 21
NET CASH USED IN INVESTING ACTIVITIES (2,412) (1,485) (666)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Apache credit facility, net 0 138 392
Proceeds from (payments on) note payable to APA Corporation, net 0 (835) 78
Payments on fixed-rate debt (65) (1,493) (1,795)
Distributions to noncontrolling interest – Sinopec (238) (362) (279)
Distributions to APA Corporation (315) (894) (1,182)
Dividends paid 0 0 (9)
Other, net 0 (15) (27)
NET CASH USED IN FINANCING ACTIVITIES (618) (3,461) (2,822)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (101) (94) 17
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 185 279 262
CASH AND CASH EQUIVALENTS AT END OF PERIOD 84 185 279
SUPPLEMENTARY CASH FLOW DATA:      
Interest paid, net of capitalized interest 293 322 442
Income taxes paid, net of refunds 1,271 1,431 633
Non-cash financing adjustment: APA’s assumption of Apache’s borrowings on its syndicated credit facility $ 0 $ 680 $ 0