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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) including noncontrolling interests $ 890,000,000 $ (5,000,000,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Unrealized derivative instrument losses, net 55,000,000 241,000,000
Gain on divestitures, net (67,000,000) (25,000,000)
Exploratory dry hole expense and unproved leasehold impairments 46,000,000 97,000,000
Depreciation, depletion, and amortization 693,000,000 984,000,000
Asset retirement obligation accretion 56,000,000 54,000,000
Impairments 0 4,492,000,000
Deferred income tax benefit (22,000,000) (44,000,000)
Gain on extinguishment of debt (1,000,000) (140,000,000)
Other, net (34,000,000) 14,000,000
Changes in operating assets and liabilities:    
Receivables (173,000,000) 183,000,000
Inventories 20,000,000 25,000,000
Drilling advances and other current assets 32,000,000 (26,000,000)
Deferred charges and other long-term assets (18,000,000) (16,000,000)
Accounts payable 145,000,000 (147,000,000)
Accounts payable to APA Corporation 13,000,000 0
Accrued expenses 17,000,000 (148,000,000)
Deferred credits and noncurrent liabilities (17,000,000) 42,000,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,635,000,000 586,000,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to upstream oil and gas property (488,000,000) (838,000,000)
Additions to Altus gathering, processing, and transmission (GPT) facilities (1,000,000) (25,000,000)
Leasehold and property acquisitions (3,000,000) (3,000,000)
Contributions to Altus equity method interests (24,000,000) (154,000,000)
Proceeds from sale of oil and gas properties 181,000,000 126,000,000
Other, net 12,000,000 (23,000,000)
NET CASH USED IN INVESTING ACTIVITIES (323,000,000) (917,000,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments on) Apache credit facility, net (150,000,000) 565,000,000
Proceeds from Altus credit facility, net 33,000,000 97,000,000
Payments on fixed-rate debt (20,000,000) (264,000,000)
Distributions to noncontrolling interest - Egypt (60,000,000) (40,000,000)
Distributions to Altus Preferred Unit limited partners (23,000,000) 0
Distributions to APA Corporation (302,000,000) 0
Dividends paid (9,000,000) (104,000,000)
Other, net (21,000,000) (35,000,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (552,000,000) 219,000,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 760,000,000 (112,000,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 262,000,000 247,000,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,022,000,000 135,000,000
SUPPLEMENTARY CASH FLOW DATA:    
Interest paid, net of capitalized interest 233,000,000 212,000,000
Income taxes paid, net of refunds $ 231,000,000 $ 80,000,000