10-Q 1 apa-20220930.htm 10-Q apa-20220930
false2022Q30001841666--12-3133.3300018416662022-01-012022-09-3000018416662022-10-31xbrli:shares0001841666apa:OilAndGasExcludingPurchasedMember2022-07-012022-09-30iso4217:USD0001841666apa:OilAndGasExcludingPurchasedMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMember2021-01-012021-09-300001841666us-gaap:OilAndGasPurchasedMember2022-07-012022-09-300001841666us-gaap:OilAndGasPurchasedMember2021-07-012021-09-300001841666us-gaap:OilAndGasPurchasedMember2022-01-012022-09-300001841666us-gaap:OilAndGasPurchasedMember2021-01-012021-09-300001841666us-gaap:OilAndGasMember2022-07-012022-09-300001841666us-gaap:OilAndGasMember2021-07-012021-09-300001841666us-gaap:OilAndGasMember2022-01-012022-09-300001841666us-gaap:OilAndGasMember2021-01-012021-09-3000018416662022-07-012022-09-3000018416662021-07-012021-09-3000018416662021-01-012021-09-300001841666apa:NoncontrollingInterestEgyptMember2022-07-012022-09-300001841666apa:NoncontrollingInterestEgyptMember2021-07-012021-09-300001841666apa:NoncontrollingInterestEgyptMember2022-01-012022-09-300001841666apa:NoncontrollingInterestEgyptMember2021-01-012021-09-300001841666apa:NoncontrollingInterestALTMMember2022-07-012022-09-300001841666apa:NoncontrollingInterestALTMMember2021-07-012021-09-300001841666apa:NoncontrollingInterestALTMMember2022-01-012022-09-300001841666apa:NoncontrollingInterestALTMMember2021-01-012021-09-30iso4217:USDxbrli:shares00018416662021-12-3100018416662020-12-3100018416662022-09-3000018416662021-09-300001841666us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001841666apa:NoncontrollingInterestEgyptMember2022-09-300001841666apa:NoncontrollingInterestEgyptMember2021-12-310001841666apa:NoncontrollingInterestALTMMember2022-09-300001841666apa:NoncontrollingInterestALTMMember2021-12-310001841666us-gaap:RedeemablePreferredStockMember2021-06-300001841666us-gaap:CommonStockMember2021-06-300001841666us-gaap:AdditionalPaidInCapitalMember2021-06-300001841666us-gaap:RetainedEarningsMember2021-06-300001841666us-gaap:TreasuryStockCommonMember2021-06-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001841666us-gaap:ParentMember2021-06-300001841666us-gaap:NoncontrollingInterestMember2021-06-3000018416662021-06-300001841666us-gaap:RetainedEarningsMember2021-07-012021-09-300001841666us-gaap:ParentMember2021-07-012021-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestEgyptMember2021-07-012021-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestALTMMember2021-07-012021-09-300001841666us-gaap:RedeemablePreferredStockMember2021-07-012021-09-300001841666us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001841666us-gaap:TreasuryStockCommonMember2021-07-012021-09-300001841666us-gaap:NoncontrollingInterestMember2021-07-012021-09-300001841666us-gaap:RedeemablePreferredStockMember2021-09-300001841666us-gaap:CommonStockMember2021-09-300001841666us-gaap:AdditionalPaidInCapitalMember2021-09-300001841666us-gaap:RetainedEarningsMember2021-09-300001841666us-gaap:TreasuryStockCommonMember2021-09-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001841666us-gaap:ParentMember2021-09-300001841666us-gaap:NoncontrollingInterestMember2021-09-300001841666us-gaap:RedeemablePreferredStockMember2022-06-300001841666us-gaap:CommonStockMember2022-06-300001841666us-gaap:AdditionalPaidInCapitalMember2022-06-300001841666us-gaap:RetainedEarningsMember2022-06-300001841666us-gaap:TreasuryStockCommonMember2022-06-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001841666us-gaap:ParentMember2022-06-300001841666us-gaap:NoncontrollingInterestMember2022-06-3000018416662022-06-300001841666us-gaap:RetainedEarningsMember2022-07-012022-09-300001841666us-gaap:ParentMember2022-07-012022-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestEgyptMember2022-07-012022-09-300001841666us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001841666us-gaap:TreasuryStockCommonMember2022-07-012022-09-300001841666us-gaap:RedeemablePreferredStockMember2022-09-300001841666us-gaap:CommonStockMember2022-09-300001841666us-gaap:AdditionalPaidInCapitalMember2022-09-300001841666us-gaap:RetainedEarningsMember2022-09-300001841666us-gaap:TreasuryStockCommonMember2022-09-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300001841666us-gaap:ParentMember2022-09-300001841666us-gaap:NoncontrollingInterestMember2022-09-300001841666us-gaap:RedeemablePreferredStockMember2020-12-310001841666us-gaap:CommonStockMember2020-12-310001841666us-gaap:AdditionalPaidInCapitalMember2020-12-310001841666us-gaap:RetainedEarningsMember2020-12-310001841666us-gaap:TreasuryStockCommonMember2020-12-310001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001841666us-gaap:ParentMember2020-12-310001841666us-gaap:NoncontrollingInterestMember2020-12-310001841666us-gaap:RetainedEarningsMember2021-01-012021-09-300001841666us-gaap:ParentMember2021-01-012021-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestEgyptMember2021-01-012021-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestALTMMember2021-01-012021-09-300001841666us-gaap:RedeemablePreferredStockMember2021-01-012021-09-300001841666us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001841666us-gaap:CommonStockMember2021-01-012021-09-300001841666us-gaap:TreasuryStockCommonMember2021-01-012021-09-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001841666us-gaap:NoncontrollingInterestMember2021-01-012021-09-300001841666us-gaap:RedeemablePreferredStockMember2021-12-310001841666us-gaap:CommonStockMember2021-12-310001841666us-gaap:AdditionalPaidInCapitalMember2021-12-310001841666us-gaap:RetainedEarningsMember2021-12-310001841666us-gaap:TreasuryStockCommonMember2021-12-310001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001841666us-gaap:ParentMember2021-12-310001841666us-gaap:NoncontrollingInterestMember2021-12-310001841666us-gaap:RetainedEarningsMember2022-01-012022-09-300001841666us-gaap:ParentMember2022-01-012022-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestEgyptMember2022-01-012022-09-300001841666us-gaap:NoncontrollingInterestMemberapa:NoncontrollingInterestALTMMember2022-01-012022-09-300001841666us-gaap:RedeemablePreferredStockMember2022-01-012022-09-300001841666us-gaap:AdditionalPaidInCapitalMember2022-01-012022-09-300001841666us-gaap:TreasuryStockCommonMember2022-01-012022-09-300001841666us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001841666apa:ThirdPartyInvestorsMemberapa:AltusMidstreamCompanyMember2022-09-30xbrli:pure0001841666apa:KinetikMember2022-09-300001841666apa:SinopecMemberapa:ApacheEgyptMember2022-09-300001841666apa:DelawareBasinMember2022-07-292022-07-290001841666apa:DelawareBasinMemberapa:ProvedPropertiesMember2022-07-292022-07-290001841666apa:DelawareBasinMemberapa:UnprovedLeaseholdMember2022-07-292022-07-290001841666apa:DelawareBasinMember2022-07-290001841666apa:PermianRegionMember2022-07-012022-09-300001841666apa:PermianRegionMember2022-01-012022-09-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:NonCoreAssetsAndLeaseholdMember2022-07-012022-09-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:NonCoreAssetsAndLeaseholdMember2022-01-012022-09-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:NonCoreMineralRightsMember2022-01-012022-03-310001841666apa:BCPBusinessCombinationMemberus-gaap:CommonClassCMemberapa:AltusMidstreamMember2022-02-222022-02-220001841666apa:BCPBusinessCombinationContributorMemberapa:BCPBusinessCombinationMemberapa:KinetikMember2022-02-220001841666apa:ApacheMidstreamLLCMemberapa:ALTMMember2022-02-210001841666apa:BCPBusinessCombinationMemberapa:ALTMMemberapa:AltusMidstreamMember2022-02-2200018416662022-02-222022-02-220001841666apa:KinetikMember2022-02-2200018416662022-02-2200018416662022-03-012022-03-310001841666apa:KinetikMember2022-03-012022-03-310001841666apa:KinetikMember2022-01-012022-03-310001841666apa:KinetikMember2022-03-310001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:NonCoreAssetsMemberapa:PermianRegionMember2021-06-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:NonCoreAssetsMemberapa:PermianRegionMember2021-04-012021-06-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:PermianRegionMemberapa:NonCoreAssetsAndLeaseholdMember2021-01-012021-09-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:PermianRegionMember2021-01-012021-09-300001841666apa:PermianRegionMember2021-01-012021-09-30apa:Counterparty0001841666apa:NymexHenryHubWahaMemberapa:OctoberToDecember2022Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-01-012022-09-30utr:MMBTU0001841666apa:NymexHenryHubWahaMemberapa:OctoberToDecember2022Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-09-30iso4217:USDutr:MMBTU0001841666apa:OctoberToDecember2022Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-01-012022-09-300001841666apa:OctoberToDecember2022Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JanuaryToMarch2023Member2022-01-012022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JanuaryToMarch2023Member2022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JanuaryToMarch2023Member2022-01-012022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JanuaryToMarch2023Member2022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JanuaryToJune2023Member2022-01-012022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JanuaryToJune2023Member2022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JanuaryToJune2023Member2022-01-012022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JanuaryToJune2023Member2022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JulyToSeptember2023Member2022-01-012022-09-300001841666apa:NymexHenryHubWahaMemberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMemberapa:JulyToSeptember2023Member2022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JulyToSeptember2023Member2022-01-012022-09-300001841666apa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMemberapa:JulyToSeptember2023Member2022-09-300001841666apa:NymexHenryHubWahaMemberapa:JanuaryToDecember2023Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-01-012022-09-300001841666apa:NymexHenryHubWahaMemberapa:JanuaryToDecember2023Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-09-300001841666apa:JanuaryToDecember2023Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-01-012022-09-300001841666apa:JanuaryToDecember2023Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-09-300001841666apa:NymexHenryHubWahaMemberapa:JanuaryToJune2024Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-01-012022-09-300001841666apa:NymexHenryHubWahaMemberapa:JanuaryToJune2024Memberapa:BasisSwapPurchasedMembersrt:NaturalGasReservesMember2022-09-300001841666apa:JanuaryToJune2024Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-01-012022-09-300001841666apa:JanuaryToJune2024Memberapa:NymexHenryHubHSCMembersrt:NaturalGasReservesMemberapa:BasisSwapSoldMember2022-09-300001841666us-gaap:ForeignExchangeContractMember2022-09-30iso4217:GBP0001841666us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2022-09-300001841666us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2022-09-300001841666us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2022-09-300001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2022-09-300001841666us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2022-09-300001841666us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2022-09-300001841666us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2022-09-300001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2022-09-300001841666us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2021-12-310001841666us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2021-12-310001841666us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommodityContractMember2021-12-310001841666us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-12-310001841666us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-12-310001841666us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-12-310001841666us-gaap:FairValueInputsLevel1Memberus-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666us-gaap:FairValueInputsLevel2Memberus-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666us-gaap:FairValueInputsLevel3Memberus-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EmbeddedDerivativeFinancialInstrumentsMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCurrentAssetsMember2022-09-300001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCurrentAssetsMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2022-09-300001841666us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2021-12-310001841666us-gaap:FairValueMeasurementsRecurringMember2022-09-300001841666us-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001841666us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666apa:DeferredCreditsandOtherNoncurrentLiabilitiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001841666apa:DeferredCreditsandOtherNoncurrentLiabilitiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001841666us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2022-07-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2021-07-012021-09-300001841666us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2022-01-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:CommodityContractMember2021-01-012021-09-300001841666us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-07-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300001841666us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-01-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300001841666us-gaap:NondesignatedMember2022-07-012022-09-300001841666us-gaap:NondesignatedMember2021-07-012021-09-300001841666us-gaap:NondesignatedMember2022-01-012022-09-300001841666us-gaap:NondesignatedMember2021-01-012021-09-300001841666us-gaap:NondesignatedMemberapa:PipelineCapacityEmbeddedDerivativeMember2022-07-012022-09-300001841666us-gaap:NondesignatedMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-07-012021-09-300001841666us-gaap:NondesignatedMemberapa:PipelineCapacityEmbeddedDerivativeMember2022-01-012022-09-300001841666us-gaap:NondesignatedMemberapa:PipelineCapacityEmbeddedDerivativeMember2021-01-012021-09-300001841666us-gaap:NondesignatedMemberus-gaap:EmbeddedDerivativeFinancialInstrumentsMember2022-07-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:EmbeddedDerivativeFinancialInstrumentsMember2021-07-012021-09-300001841666us-gaap:NondesignatedMemberus-gaap:EmbeddedDerivativeFinancialInstrumentsMember2022-01-012022-09-300001841666us-gaap:NondesignatedMemberus-gaap:EmbeddedDerivativeFinancialInstrumentsMember2021-01-012021-09-300001841666apa:FinancialContractsGasDailyPricingMember2021-01-012021-03-310001841666apa:KinetikMemberapa:KinetikMember2022-04-012022-06-300001841666apa:KinetikMember2022-07-012022-09-300001841666apa:KinetikMember2022-01-012022-09-300001841666apa:KinetikMember2022-09-300001841666apa:KinetikMember2021-12-310001841666apa:AltusMidstreamCompanyMember2021-12-31apa:entity0001841666apa:GulfCoastExpressPipelineLLCMember2021-12-310001841666apa:AltusMidstreamCompanyMemberapa:GulfCoastExpressPipelineLLCMember2021-12-310001841666apa:EPICCrudePipelineMember2021-12-310001841666apa:AltusMidstreamCompanyMemberapa:EPICCrudePipelineMember2021-12-310001841666apa:PermianHighwayPipelineMember2021-12-310001841666apa:PermianHighwayPipelineMemberapa:AltusMidstreamCompanyMember2021-12-310001841666apa:ShinOakPipelineBrevilobaLLCMember2021-12-310001841666apa:AltusMidstreamCompanyMemberapa:ShinOakPipelineBrevilobaLLCMember2021-12-310001841666apa:AltusMidstreamCompanyMemberapa:GulfCoastExpressPipelineLLCMember2022-01-012022-09-300001841666apa:AltusMidstreamCompanyMemberapa:EPICCrudePipelineMember2022-01-012022-09-300001841666apa:PermianHighwayPipelineMemberapa:AltusMidstreamCompanyMember2022-01-012022-09-300001841666apa:AltusMidstreamCompanyMemberapa:ShinOakPipelineBrevilobaLLCMember2022-01-012022-09-300001841666apa:AltusMidstreamCompanyMember2022-01-012022-09-300001841666apa:AltusMidstreamCompanyMemberapa:GulfCoastExpressPipelineLLCMember2022-09-300001841666apa:AltusMidstreamCompanyMemberapa:EPICCrudePipelineMember2022-09-300001841666apa:PermianHighwayPipelineMemberapa:AltusMidstreamCompanyMember2022-09-300001841666apa:AltusMidstreamCompanyMemberapa:ShinOakPipelineBrevilobaLLCMember2022-09-300001841666apa:AltusMidstreamCompanyMember2022-09-300001841666us-gaap:UnsecuredDebtMemberapa:NotesAndDebenturesMember2022-09-300001841666us-gaap:UnsecuredDebtMemberapa:NotesAndDebenturesMember2021-12-310001841666us-gaap:RevolvingCreditFacilityMemberapa:CreditFacilityAltusMemberus-gaap:LineOfCreditMember2022-09-300001841666us-gaap:RevolvingCreditFacilityMemberapa:CreditFacilityAltusMemberus-gaap:LineOfCreditMember2021-12-310001841666us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberapa:SyndicatedCreditFacilityMember2022-09-300001841666us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberapa:SyndicatedCreditFacilityMember2021-12-310001841666apa:NotesAndDebenturesMember2022-09-300001841666apa:NotesAndDebenturesMember2021-12-310001841666apa:SeniorNotesDueJanuary152023Memberus-gaap:SeniorNotesMember2022-09-300001841666apa:SeniorNotesDueApril152022Memberus-gaap:SeniorNotesMember2021-12-310001841666apa:SeniorNotesDueJanuary152023Memberus-gaap:SeniorNotesMember2022-07-012022-09-300001841666us-gaap:SeniorNotesMemberapa:DebtRepurchaseCashTenderOffersMember2022-03-310001841666us-gaap:SeniorNotesMemberapa:DebtRepurchaseCashTenderOffersMember2022-01-012022-03-310001841666apa:OpenMarketRepurchaseMemberus-gaap:SeniorNotesMember2022-03-310001841666apa:OpenMarketRepurchaseMemberus-gaap:SeniorNotesMember2022-01-012022-03-310001841666apa:SeniorNotesDueApril152022Memberus-gaap:SeniorNotesMember2022-03-310001841666apa:SeniorNotesDueApril152022Memberus-gaap:SeniorNotesMember2022-01-012022-03-3100018416662022-04-29apa:agreement0001841666us-gaap:LineOfCreditMemberapa:USDAgreementMember2022-04-292022-04-290001841666us-gaap:LineOfCreditMemberapa:USDAgreementMember2022-04-290001841666us-gaap:LineOfCreditMemberapa:USDAgreementMemberus-gaap:LetterOfCreditMember2022-04-29apa:option0001841666apa:GBPAgreementMemberus-gaap:LineOfCreditMember2022-04-292022-04-290001841666apa:GBPAgreementMemberus-gaap:LineOfCreditMember2022-04-290001841666apa:FormerFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-04-290001841666us-gaap:LineOfCreditMemberapa:USDAgreementMemberus-gaap:LetterOfCreditMember2022-04-292022-04-290001841666apa:FormerFacilityMemberus-gaap:RevolvingCreditFacilityMember2022-04-292022-04-290001841666us-gaap:LineOfCreditMemberapa:USDAgreementMemberus-gaap:LetterOfCreditMember2022-09-300001841666apa:GBPAgreementMemberus-gaap:LineOfCreditMemberus-gaap:LetterOfCreditMember2022-09-300001841666apa:FormerFacilityMemberus-gaap:LineOfCreditMember2021-12-310001841666apa:FormerFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LetterOfCreditMember2021-12-310001841666apa:CreditFacilityApacheMember2022-09-300001841666apa:CreditFacilityApacheMember2021-12-310001841666us-gaap:ForeignCountryMember2022-07-012022-09-3000018416662014-03-120001841666apa:ApolloExplorationLawsuitMember2016-03-212016-03-210001841666apa:ApolloExplorationLawsuitMembersrt:MinimumMember2016-03-202016-03-200001841666apa:ApacheAustraliaOperationMemberapa:AustralianOperationsDivestitureDisputeMember2017-04-30iso4217:AUD0001841666apa:ApacheAustraliaOperationMemberapa:AustralianOperationsDivestitureDisputeMember2017-12-310001841666apa:CanadianOperationsDivestitureDisputeMember2019-09-112019-09-11apa:plaintiff0001841666apa:CaliforniaLitigationMember2017-07-172017-07-17apa:Actionapa:defendant0001841666apa:CaliforniaLitigationMember2017-12-202017-12-200001841666apa:DelawareLitigationMember2020-09-102020-09-100001841666apa:CastexLawsuitMember2020-01-012020-12-310001841666apa:CastexLawsuitMember2020-12-31apa:sidetrack0001841666apa:CastexLawsuitMember2022-09-300001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:GulfOfMexicoShelfOperationsAndPropertiesMember2013-01-012013-12-310001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:GulfOfMexicoShelfOperationsAndPropertiesMember2013-12-31apa:source0001841666us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMemberapa:GulfOfMexicoShelfOperationsAndPropertiesMember2022-09-30apa:bondapa:subsidiary0001841666srt:MinimumMember2022-09-300001841666srt:MaximumMember2022-09-300001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2019-06-122019-06-120001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2020-12-310001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2021-01-012021-12-310001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2021-12-310001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2022-01-012022-02-220001841666apa:AltusMidstreamLPMemberus-gaap:RedeemablePreferredStockMember2022-02-220001841666apa:AltusMidstreamLPMember2022-02-220001841666apa:AltusMidstreamLPMember2022-01-012022-02-220001841666apa:StockOptionsAndOtherMember2022-07-012022-09-300001841666apa:StockOptionsAndOtherMember2021-07-012021-09-300001841666apa:StockOptionsAndOtherMember2022-01-012022-09-300001841666apa:StockOptionsAndOtherMember2021-01-012021-09-3000018416662018-12-3100018416662018-01-012020-12-3100018416662021-10-012021-12-310001841666us-gaap:SubsequentEventMember2022-10-012022-10-310001841666us-gaap:SubsequentEventMember2022-10-3100018416662021-04-012021-06-30apa:Segment0001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:OilReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:NorthSeaMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:SegmentUnitedStatesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMemberapa:NorthSeaMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:NaturalGasLiquidsReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasLiquidsReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMember2022-07-012022-09-300001841666apa:SegmentEgyptMemberus-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-07-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-07-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:IntersegmentEliminationMember2022-07-012022-09-300001841666us-gaap:OilAndGasMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-07-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-07-012022-09-300001841666us-gaap:OilAndGasMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:IntersegmentEliminationMember2022-07-012022-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-07-012022-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-07-012022-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-07-012022-09-300001841666us-gaap:IntersegmentEliminationMember2022-07-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:OilReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:NorthSeaMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:SegmentUnitedStatesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMemberapa:NorthSeaMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMember2022-01-012022-09-300001841666apa:SegmentEgyptMemberus-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-01-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-01-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:IntersegmentEliminationMember2022-01-012022-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-01-012022-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-01-012022-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666us-gaap:IntersegmentEliminationMember2022-01-012022-09-300001841666us-gaap:OilAndGasMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-01-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-01-012022-09-300001841666us-gaap:OilAndGasMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-01-012022-09-300001841666us-gaap:OilAndGasMemberus-gaap:IntersegmentEliminationMember2022-01-012022-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2022-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2022-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2022-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2022-09-300001841666us-gaap:IntersegmentEliminationMember2022-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:OilReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:NorthSeaMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:SegmentUnitedStatesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMemberapa:NorthSeaMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:NaturalGasLiquidsReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasLiquidsReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMember2021-07-012021-09-300001841666apa:SegmentEgyptMemberus-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-07-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-07-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:IntersegmentEliminationMember2021-07-012021-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-07-012021-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-07-012021-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666us-gaap:IntersegmentEliminationMember2021-07-012021-09-300001841666us-gaap:OilAndGasMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-07-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-07-012021-09-300001841666us-gaap:OilAndGasMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-07-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:IntersegmentEliminationMember2021-07-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:OilReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:NorthSeaMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasReservesMemberapa:SegmentUnitedStatesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMembersrt:NaturalGasLiquidsReservesMemberapa:NorthSeaMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMembersrt:NaturalGasLiquidsReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMembersrt:NaturalGasLiquidsReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMembersrt:NaturalGasLiquidsReservesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666apa:OilAndGasExcludingPurchasedMemberus-gaap:IntersegmentEliminationMember2021-01-012021-09-300001841666apa:SegmentEgyptMemberus-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-01-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-01-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666us-gaap:OilAndGasPurchasedMemberus-gaap:IntersegmentEliminationMember2021-01-012021-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-01-012021-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-01-012021-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666us-gaap:IntersegmentEliminationMember2021-01-012021-09-300001841666us-gaap:OilAndGasMemberapa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-01-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-01-012021-09-300001841666us-gaap:OilAndGasMemberapa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-01-012021-09-300001841666us-gaap:OilAndGasMemberus-gaap:IntersegmentEliminationMember2021-01-012021-09-300001841666apa:SegmentEgyptMemberus-gaap:OperatingSegmentsMember2021-09-300001841666us-gaap:OperatingSegmentsMemberapa:NorthSeaMember2021-09-300001841666us-gaap:OperatingSegmentsMemberapa:SegmentUnitedStatesMember2021-09-300001841666apa:AltusMidstreamSegmentMembersrt:ReportableLegalEntitiesMember2021-09-300001841666us-gaap:IntersegmentEliminationMember2021-09-300001841666srt:OilReservesMember2022-07-012022-09-300001841666srt:OilReservesMember2021-07-012021-09-300001841666srt:OilReservesMember2022-01-012022-09-300001841666srt:OilReservesMember2021-01-012021-09-300001841666srt:NaturalGasReservesMember2022-07-012022-09-300001841666srt:NaturalGasReservesMember2021-07-012021-09-300001841666srt:NaturalGasReservesMember2022-01-012022-09-300001841666srt:NaturalGasReservesMember2021-01-012021-09-300001841666srt:NaturalGasLiquidsReservesMember2022-07-012022-09-300001841666srt:NaturalGasLiquidsReservesMember2021-07-012021-09-300001841666srt:NaturalGasLiquidsReservesMember2022-01-012022-09-300001841666srt:NaturalGasLiquidsReservesMember2021-01-012021-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
FORM 10-Q 
(Mark One)  
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________
Commission File Number: 1-40144
APA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware86-1430562
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
One Post Oak Central, 2000 Post Oak Boulevard, Suite 100, Houston, Texas 77056-4400
(Address of principal executive offices) (Zip Code)
(713296-6000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.625 par valueAPANasdaq Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filer☐ Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No
Number of shares of registrant’s common stock outstanding as of October 31, 2022
321,511,801 




TABLE OF CONTENTS




FORWARD-LOOKING STATEMENTS AND RISKS
This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). All statements other than statements of historical facts included or incorporated by reference in this report, including, without limitation, statements regarding the Company’s future financial position, business strategy, budgets, projected revenues, projected costs, and plans and objectives of management for future operations, are forward-looking statements. Such forward-looking statements are based on the Company’s examination of historical operating trends, the information that was used to prepare its estimate of proved reserves as of December 31, 2021, and other data in the Company’s possession or available from third parties. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “could,” “expect,” “intend,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “continue,” “seek,” “guidance,” “goal,” “might,” “outlook,” “possibly,” “potential,” “prospect,” “should,” “would,” or similar terminology, but the absence of these words does not mean that a statement is not forward looking. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable under the circumstances, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, its assumptions about:
the scope, duration, and reoccurrence of any epidemics or pandemics (including, specifically, the coronavirus disease 2019 (COVID-19) pandemic and any related variants) and the actions taken by third parties, including, but not limited to, governmental authorities, customers, contractors, and suppliers, in response to such epidemics or pandemics;
the mandate, availability, and effectiveness of vaccine programs and therapeutics related to the treatment of COVID-19;
the market prices of oil, natural gas, natural gas liquids (NGLs), and other products or services;
the Company’s commodity hedging arrangements;
the supply and demand for oil, natural gas, NGLs, and other products or services;
production and reserve levels;
drilling risks;
economic and competitive conditions, including market and macro-economic disruptions resulting from the Russian war in Ukraine;
the availability of capital resources;
capital expenditures and other contractual obligations;
currency exchange rates;
weather conditions;
inflation rates;
the impact of changes in tax legislation;
the availability of goods and services;
the impact of political pressure and the influence of environmental groups and other stakeholders on decisions and policies related to the industries in which the Company and its affiliates operate;
legislative, regulatory, or policy changes, including initiatives addressing the impact of global climate change or further regulating hydraulic fracturing, methane emissions, flaring, or water disposal;
the Company’s performance on environmental, social, and governance measures;
terrorism or cyberattacks;
the occurrence of property acquisitions or divestitures;
the integration of acquisitions;
the Company’s ability to access the capital markets;
market-related risks, such as general credit, liquidity, and interest-rate risks;



the Company’s expectations with respect to the new operating structure implemented pursuant to the Holding Company Reorganization (as defined in the Notes to the Company’s Consolidated Financial Statements set forth in Part I, Item 1—Financial Statements of this Quarterly Report on Form 10-Q) and the associated disclosure implications;
other factors disclosed under Items 1 and 2—Business and Properties—Estimated Proved Reserves and Future Net Cash Flows, Item 1A—Risk Factors, Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 7A—Quantitative and Qualitative Disclosures About Market Risk and elsewhere in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021;
other risks and uncertainties disclosed in the Company’s third-quarter 2022 earnings release;
other factors disclosed under Part II, Item 1A—Risk Factors of this Quarterly Report on Form 10-Q; and
other factors disclosed in the other filings that the Company makes with the Securities and Exchange Commission.
Other factors or events that could cause the Company’s actual results to differ materially from the Company’s expectations may emerge from time to time, and it is not possible for the Company to predict all such factors or events. All subsequent written and oral forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements. All forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q. Except as required by law, the Company disclaims any obligation to update or revise these statements, whether based on changes in internal estimates or expectations, new information, future developments, or otherwise.



DEFINITIONS
All defined terms under Rule 4-10(a) of Regulation S-X shall have their statutorily prescribed meanings when used in this Quarterly Report on Form 10-Q. As used herein:
“3-D” means three-dimensional.
“4-D” means four-dimensional.
“b/d” means barrels of oil or NGLs per day.
“bbl” or “bbls” means barrel or barrels of oil or NGLs.
“bcf” means billion cubic feet of natural gas.
“bcf/d” means one bcf per day.
“boe” means barrel of oil equivalent, determined by using the ratio of one barrel of oil or NGLs to six Mcf of gas.
“boe/d” means boe per day.
“Btu” means a British thermal unit, a measure of heating value.
“Liquids” means oil and NGLs.
“LNG” means liquefied natural gas.
“Mb/d” means Mbbls per day.
“Mbbls” means thousand barrels of oil or NGLs.
“Mboe” means thousand boe.
“Mboe/d” means Mboe per day.
“Mcf” means thousand cubic feet of natural gas.
“Mcf/d” means Mcf per day.
“MMbbls” means million barrels of oil or NGLs.
“MMboe” means million boe.
“MMBtu” means million Btu.
“MMBtu/d” means MMBtu per day.
“MMcf” means million cubic feet of natural gas.
“MMcf/d” means MMcf per day.
“NGL” or “NGLs” means natural gas liquids, which are expressed in barrels.
“NYMEX” means New York Mercantile Exchange.
“oil” includes crude oil and condensate.
“PUD” means proved undeveloped.
“SEC” means the United States Securities and Exchange Commission.
“Tcf” means trillion cubic feet of natural gas.
“U.K.” means United Kingdom.
“U.S.” means United States.
With respect to information relating to the Company’s working interest in wells or acreage, “net” oil and gas wells or acreage is determined by multiplying gross wells or acreage by the Company’s working interest therein. Unless otherwise specified, all references to wells and acres are gross.
References to “APA,” the “Company,” “we,” “us,” and “our” refer to APA Corporation and its consolidated subsidiaries, including Apache Corporation, unless otherwise specifically stated. References to “Apache” refer to Apache Corporation, the Company’s wholly owned subsidiary, and its consolidated subsidiaries, unless otherwise specifically stated.



PART I – FINANCIAL INFORMATION
ITEM 1.    FINANCIAL STATEMENTS
APA CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED OPERATIONS
(Unaudited)
For the Quarter Ended
September 30,
For the Nine Months Ended
September 30,
2022202120222021
 (In millions, except share data)
REVENUES AND OTHER:
Oil, natural gas, and natural gas liquids production revenues$2,302 $1,685 $7,147 $4,630 
Purchased oil and gas sales585 374 1,456 1,056 
Total revenues2,887 2,059 8,603 5,686 
Derivative instrument gains (losses), net(44) (138)45 
Gain (loss) on divestitures, net31 (2)1,180 65 
Loss on previously sold Gulf of Mexico properties (446) (446)
Other, net(2)40 107 175 
2,872 1,651 9,752 5,525 
OPERATING EXPENSES:
Lease operating expenses364 316 1,067 891 
Gathering, processing, and transmission(1)
99 68 274 187 
Purchased oil and gas costs573 396 1,452 1,152 
Taxes other than income82 54 230 149 
Exploration95 34 193 109 
General and administrative69 70 314 239 
Transaction, reorganization, and separation4 4 21 8 
Depreciation, depletion, and amortization310 335 879 1,028 
Asset retirement obligation accretion29 29 87 85 
Impairments 18  18 
Financing costs, net75 205 303 422 
1,700 1,529 4,820 4,288 
NET INCOME BEFORE INCOME TAXES1,172 122 4,932 1,237 
Current income tax provision357 183 1,164 463 
Deferred income tax provision (benefit)285 (31)225 (54)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS530 (30)3,543 828 
Net income attributable to noncontrolling interest - Egypt108 49 368 132 
Net income attributable to noncontrolling interest - Altus 4 14 32 
Net income (loss) attributable to Altus Preferred Unit limited partners 30 (70)73 
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK$422 $(113)$3,231 $591 
NET INCOME (LOSS) PER COMMON SHARE:
Basic$1.28 $(0.30)$9.54 $1.56 
Diluted$1.28 $(0.30)$9.51 $1.53 
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic329 379 339 378 
Diluted330 379 340 379 
(1)    For gathering, processing, and transmission costs associated with Kinetik, refer to Note 6—Equity Method Interest for further detail.
The accompanying notes to consolidated financial statements are an integral part of this statement.
1


APA CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
(Unaudited)
 
For the Quarter Ended
September 30,
For the Nine Months Ended
September 30,
 2022202120222021
 (In millions)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS$530 $(30)$3,543 $828 
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Share of equity method interests other comprehensive income   1 
Pension and postretirement benefit plan  (1) 
COMPREHENSIVE INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS530 (30)3,542 829 
Comprehensive income attributable to noncontrolling interest - Egypt108 49 368 132 
Comprehensive income attributable to noncontrolling interest - Altus 4 14 32 
Comprehensive income (loss) attributable to Altus Preferred Unit limited partners 30 (70)73 
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK$422 $(113)$3,230 $592 

The accompanying notes to consolidated financial statements are an integral part of this statement.
2


APA CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CASH FLOWS
(Unaudited)
For the Nine Months Ended
September 30,
  20222021
 (In millions)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income including noncontrolling interests$3,543 $828 
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized derivative instrument losses, net119 18 
Gain on divestitures, net(1,180)(65)
Exploratory dry hole expense and unproved leasehold impairments129 67 
Depreciation, depletion, and amortization879 1,028 
Asset retirement obligation accretion87 85 
Impairments 18 
Provision (benefit) from deferred income taxes225 (54)
Loss on extinguishment of debt67 104 
Loss on previously sold Gulf of Mexico properties 446 
Other, net(91)(6)
Changes in operating assets and liabilities:
Receivables(554)(265)
Inventories(81)(19)
Drilling advances and other current assets7 32 
Deferred charges and other long-term assets(3)(46)
Accounts payable175 219 
Accrued expenses249 29 
Deferred credits and noncurrent liabilities(41)(8)
NET CASH PROVIDED BY OPERATING ACTIVITIES3,530 2,411 
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to upstream oil and gas property(1,168)(790)
Acquisition of Delaware Basin properties(563) 
Leasehold and property acquisitions(30)(6)
Proceeds from sale of oil and gas properties778 239 
Proceeds from sale of Kinetik shares224  
Deconsolidation of Altus cash and cash equivalents(143) 
Other, net8 15 
NET CASH USED IN INVESTING ACTIVITIES(894)(542)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from (payments on) revolving credit facilities, net(22)290 
Proceeds from Altus credit facility, net 33 
Payments on Apache fixed-rate debt(1,370)(1,795)
Distributions to noncontrolling interest - Egypt(237)(203)
Distributions to Altus Preferred Unit limited partners(11)(34)
Treasury stock activity, net(884) 
Dividends paid to APA common stockholders(127)(28)
Other, net(19)(17)
NET CASH USED IN FINANCING ACTIVITIES(2,670)(1,754)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(34)115 
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR302 262 
CASH AND CASH EQUIVALENTS AT END OF PERIOD$268 $377 
SUPPLEMENTARY CASH FLOW DATA:
Interest paid, net of capitalized interest$274 $365 
Income taxes paid, net of refunds1,029 415 
The accompanying notes to consolidated financial statements are an integral part of this statement.
3


APA CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(Unaudited)
September 30,
2022(1)
December 31,
2021(1)
(In millions, except share data)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ($132 related to Altus VIE)
$268 $302 
Receivables, net of allowance of $115 and $109
1,928 1,394 
Other current assets (Note 5) ($9 related to Altus VIE)
939 684 
3,135 2,380 
PROPERTY AND EQUIPMENT:
Oil and gas properties41,998 40,749 
Gathering, processing, and transmission facilities ($209 related to Altus VIE)
447 673 
Other ($3 related to Altus VIE)
606 1,126 
Less: Accumulated depreciation, depletion, and amortization ($25 related to Altus VIE)
(34,055)(34,213)
8,996 8,335 
OTHER ASSETS:
Equity method interests (Note 6) ($1,365 related to Altus VIE)
602 1,365 
Decommissioning security for sold Gulf of Mexico properties (Note 11)
376 640 
Deferred charges and other ($6 related to Altus VIE)
520 583 
$13,629 $13,303 
LIABILITIES, NONCONTROLLING INTERESTS, AND EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable ($12 related to Altus VIE)
$954 $731 
Current debt125 215 
Other current liabilities (Note 7) ($15 related to Altus VIE)
1,905 1,171 
2,984 2,117 
LONG-TERM DEBT (Note 9) ($657 related to Altus VIE)
5,404 7,295 
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Income taxes384 148 
Asset retirement obligation (Note 8) ($68 related to Altus VIE)
2,078 2,089 
Decommissioning contingency for sold Gulf of Mexico properties (Note 11)
801 1,086 
Other ($67 related to Altus VIE)
427 573 
3,690 3,896 
REDEEMABLE NONCONTROLLING INTEREST - ALTUS PREFERRED UNIT LIMITED PARTNERS (Note 12)
 712 
EQUITY (DEFICIT):
Common stock, $0.625 par, 860,000,000 shares authorized, 419,757,104 and 419,078,606 shares issued, respectively
262 262 
Paid-in capital11,494 11,645 
Accumulated deficit(6,257)(9,488)
Treasury stock, at cost, 96,185,289 and 72,147,841 shares, respectively
(4,920)(4,036)
Accumulated other comprehensive income21 22 
APA SHAREHOLDERS’ EQUITY (DEFICIT)600 (1,595)
Noncontrolling interest - Egypt951 820 
Noncontrolling interest - Altus 58 
TOTAL EQUITY (DEFICIT)1,551 (717)
$13,629 $13,303 
(1)    The Altus VIE amounts are disclosed as of December 31, 2021. All Altus balances were deconsolidated as of February 22, 2022. Refer to Note 1—Summary of Significant Accounting Policies and Note 2—Acquisitions and Divestitures for further detail.

The accompanying notes to consolidated financial statements are an integral part of this statement.
4


APA CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CHANGES IN EQUITY (DEFICIT) AND NONCONTROLLING INTERESTS
(Unaudited)
Redeemable Noncontrolling Interest - Altus Preferred Unit Limited Partners(1)
Common
Stock
Paid-In
Capital
Accumulated DeficitTreasury
Stock
Accumulated
Other
Comprehensive
Income
APA SHAREHOLDERS’
EQUITY (DEFICIT)
Noncontrolling
Interests(1)
TOTAL
EQUITY (DEFICIT)
(In millions)
For the Quarter Ended September 30, 2021
Balance at June 30, 2021
$617 $262 $11,704 $(9,757)$(3,188)$15 $(964)$1,040 $76 
Net loss attributable to common stock— — — (113)— — (113)— (113)
Net income attributable to noncontrolling interest - Egypt— — — — — — — 49 49 
Net income attributable to noncontrolling interest - Altus— — — — — — — 4 4 
Net income attributable to Altus Preferred Unit limited partners30 — — — — — — — — 
Distributions payable to Altus Preferred Unit limited partners(12)— — — — — — — — 
Distributions to noncontrolling interest - Egypt— — — — — — — (143)(143)
Common dividends declared ($0.0625 per share)
— — (24)— — — (24)— (24)
Other— — 6 —  — 6 (5)1 
Balance at September 30, 2021
$635 $262 $11,686 $(9,870)$(3,188)$15 $(1,095)$945 $(150)
For the Quarter Ended September 30, 2022
Balance at June 30, 2022
$ $262 $11,567 $(6,679)$(4,587)$21 $584 $921 $1,505 
Net income attributable to common stock— — — 422 — — 422 — 422 
Net income attributable to noncontrolling interest - Egypt— — — — — — — 108 108 
Distributions to noncontrolling interest - Egypt— — — — — — — (78)(78)
Common dividends declared ($0.25 per share)
— — (80)— — — (80)— (80)
Treasury stock activity, net— — — — (333)— (333)— (333)
Other— — 7 — — — 7 — 7 
Balance at September 30, 2022
$ $262 $11,494 $(6,257)$(4,920)$21 $600 $951 $1,551 
(1)    As a result of the BCP Business Combination, the Company deconsolidated Altus on February 22, 2022. Refer to Note 1—Summary of Significant Accounting Policies and Note 2—Acquisitions and Divestitures for further detail.

The accompanying notes to consolidated financial statements are an integral part of this statement.
5


APA CORPORATION AND SUBSIDIARIES
STATEMENT OF CONSOLIDATED CHANGES IN EQUITY (DEFICIT) AND NONCONTROLLING INTERESTS - Continued
(Unaudited)
Redeemable Noncontrolling Interest - Altus Preferred Unit Limited Partners(1)
Common
Stock
Paid-In
Capital
Accumulated DeficitTreasury
Stock
Accumulated
Other
Comprehensive
Income
APA
SHAREHOLDERS’
EQUITY (DEFICIT)
Noncontrolling
Interests(1)
TOTAL EQUITY
(DEFICIT)
(In millions)
For the Nine Months Ended September 30, 2021
Balance at December 31, 2020
$608 $262 $11,735 $(10,461)$(3,189)$14 $(1,639)$994 $(645)
Net income attributable to common stock— — — 591 — — 591 — 591 
Net income attributable to noncontrolling interest - Egypt— — — — — — — 132 132 
Net income attributable to noncontrolling interest - Altus— — — — — — — 32 32 
Net income attributable to Altus Preferred Unit limited partners73 — — — — — — — — 
Distributions payable to Altus Preferred Unit limited partners(12)— — — — — — — — 
Distributions paid to Altus Preferred Unit limited partners(34)— — — — — — — — 
Distributions to noncontrolling interest - Egypt— — — — — — — (203)(203)
Common dividends declared ($0.1125 per share)
— — (43)— — — (43)— (43)
Other—  (6)— 1 1 (4)(10)(14)
Balance at September 30, 2021
$635 $262 $11,686 $(9,870)$(3,188)$15 $(1,095)$945 $(150)
For the Nine Months Ended September 30, 2022
Balance at December 31, 2021
$712 $262 $11,645 $(9,488)$(4,036)$22 $(1,595)$878 $(717)
Net income attributable to common stock