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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES AND OTHER:    
Gain on divestitures, net $ 7,000,000 $ 1,000,000
Loss on previously sold Gulf of Mexico properties (66,000,000) 0
Other, net 15,000,000 (32,000,000)
Total revenues and other 1,795,000,000 1,914,000,000
OPERATING EXPENSES:    
Lease operating expenses [1] 326,000,000 314,000,000
Taxes other than income 50,000,000 50,000,000
Exploration 42,000,000 44,000,000
General and administrative 83,000,000 58,000,000
Transaction, reorganization, and separation 9,000,000 4,000,000
Depreciation, depletion, and amortization 373,000,000 308,000,000
Asset retirement obligation accretion 40,000,000 28,000,000
Financing costs, net 33,000,000 49,000,000
Total operating expenses 1,195,000,000 1,144,000,000
NET INCOME BEFORE INCOME TAXES 600,000,000 770,000,000
Current income tax provision 300,000,000 346,000,000
Deferred income tax provision (benefit) (18,000,000) 119,000,000
NET INCOME INCLUDING NONCONTROLLING INTERESTS 318,000,000 305,000,000
NET INCOME ATTRIBUTABLE TO APACHE CORPORATION 136,000,000 137,000,000
Noncontrolling interest – Sinopec    
OPERATING EXPENSES:    
Net income attributable to noncontrolling interest 80,000,000 84,000,000
Noncontrolling interest – APA Corporation    
OPERATING EXPENSES:    
Net income attributable to noncontrolling interest 102,000,000 84,000,000
Oil and gas    
REVENUES AND OTHER:    
Revenues 1,839,000,000 1,945,000,000
Oil, natural gas, and natural gas liquids , gathering, processing, and transmission costs    
REVENUES AND OTHER:    
Revenues [1] 1,636,000,000 1,706,000,000
OPERATING EXPENSES:    
Gathering, processing, and transmission/Purchased oil and gas costs [1] 76,000,000 73,000,000
Purchased oil and gas sales    
REVENUES AND OTHER:    
Revenues [1] 203,000,000 239,000,000
OPERATING EXPENSES:    
Gathering, processing, and transmission/Purchased oil and gas costs [1] $ 163,000,000 $ 216,000,000
[1] For transactions with Kinetik prior to the Company’s sale of its remaining shares of Kinetik Class A Common Stock and the resignation of the Company’s designated director from the Kinetik board of directors, refer to Note 6—Equity Method Interests.