Apache 10-Q5 May 172017 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	Apr. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	APA
Entity Registrant Name	APACHE CORP
Entity Central Index Key	6,769
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		380,437,395

Statement of Consolidated Opera

Statement of Consolidated Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Oil and gas production revenues
Oil and Gas Production Revenues	$ 1,512	$ 1,087
Other	25	(3)
Gain (loss) on divestitures	341	(1)
Total revenues and other	1,878	1,083
OPERATING EXPENSES:
Lease operating expenses	336	378
Gathering and transportation	57	52
Taxes other than income	42	11
Exploration	92	95
General and administrative	103	93
Depreciation, depletion, and amortization:
Depreciation, depletion and amortization	576	678
Asset retirement obligation accretion	36	38
Impairments	8	0
Transaction, reorganization, and separation	(10)	15
Financing costs, net	100	105
Total operating expenses	1,340	1,465
NET INCOME (LOSS) BEFORE INCOME TAXES	538	(382)
Current income tax provision (benefit)	188	(10)
Deferred income tax provision (benefit)	83	(1)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	267	(371)
Net income attributable to noncontrolling interest	54	1
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$ 213	$ (372)
NET INCOME (LOSS) PER COMMON SHARE:
Basic (in USD per share)	$ 0.56	$ (0.98)
Diluted (in USD per share)	$ 0.56	$ (0.98)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	380	378
Diluted (in shares)	383	378
DIVIDENDS DECLARED PER COMMON SHARE	$ 0.25	$ 0.25
Oil and gas property and equipment [Member]
Depreciation, depletion, and amortization:
Depreciation, depletion and amortization	$ 538	$ 636
Other assets [Member]
Depreciation, depletion, and amortization:
Depreciation, depletion and amortization	38	42
Oil [Member]
Oil and gas production revenues
Oil and Gas Production Revenues	1,172	822
Gas [Member]
Oil and gas production revenues
Oil and Gas Production Revenues	255	223
Natural gas liquids [Member]
Oil and gas production revenues
Oil and Gas Production Revenues	$ 85	$ 42

Statement of Consolidated Cash

Statement of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) including noncontrolling interest	$ 267	$ (371)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss (gain) on divestitures	(341)	1
Exploratory dry hole expense and unproved leasehold impairments	67	71
Depreciation, depletion, and amortization	576	678
Asset retirement obligation accretion	36	38
Impairments	8	0
Deferred income tax provision (benefit)	83	(1)
Other	34	55
Changes in operating assets and liabilities:
Receivables	(41)	135
Inventories	12	10
Drilling advances	(12)	(17)
Deferred charges and other	(10)	(117)
Accounts payable	(56)	(75)
Accrued expenses	(175)	(141)
Deferred credits and noncurrent liabilities	7	(27)
NET CASH PROVIDED BY OPERATING ACTIVITIES	455	239
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(322)	(546)
Leasehold and property acquisitions	(49)	(19)
Additions to gas gathering, transmission, and processing facilities	(142)	0
Proceeds from sale of other oil and gas properties	426	0
Other, net	(6)	10
NET CASH USED IN INVESTING ACTIVITIES	(93)	(555)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on fixed-rate debt	(70)	0
Distributions to noncontrolling interest	(57)	(54)
Dividends paid	(95)	(95)
Other	4	2
NET CASH USED IN FINANCING ACTIVITIES	(218)	(147)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	144	(463)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,377	1,467
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,521	1,004
SUPPLEMENTARY CASH FLOW DATA:
Interest paid, net of capitalized interest	140	141
Income taxes paid, net of refunds	$ 65	$ 84

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 1,521	$ 1,377
Receivables, net of allowance	1,171	1,128
Inventories	454	476
Drilling advances	93	81
Prepaid assets and other	187	179
Total current assets	3,426	3,241
Oil and gas, on the basis of successful efforts accounting:
Proved properties	42,949	42,693
Unproved properties and properties under development	1,950	1,969
Gathering, transmission and processing facilities	1,118	976
Other	1,116	1,111
Property and equipment, gross	47,133	46,749
Less: Accumulated depreciation, depletion, and amortization	(28,353)	(27,882)
Property and equipment, net	18,780	18,867
OTHER ASSETS:
Deferred charges and other	404	411
Total assets	22,610	22,519
CURRENT LIABILITIES:
Accounts payable	564	585
Other current liabilities (Note 5)	1,334	1,258
Total current liabilities	1,898	1,843
LONG-TERM DEBT	8,327	8,544
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Income taxes	1,789	1,710
Asset retirement obligation	2,460	2,432
Other	313	311
Total deferred credits and other noncurrent liabilities	4,562	4,453
COMMITMENTS AND CONTINGENCIES (Note 9)
EQUITY:
Common stock, $0.625 par, 860,000,000 shares authorized, 413,605,559 and 412,612,102 shares issued, respectively	258	258
Paid-in capital	12,305	12,364
Accumulated deficit	(3,179)	(3,385)
Treasury stock, at cost, 33,171,015 and 33,172,426 shares, respectively	(2,887)	(2,887)
Accumulated other comprehensive loss	(112)	(112)
APACHE SHAREHOLDERS’ EQUITY	6,385	6,238
Noncontrolling interest	1,438	1,441
TOTAL EQUITY	7,823	7,679
TOTAL LIABILITIES AND EQUITY	$ 22,610	$ 22,519

Consolidated Balance Sheet (Un5

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.625	$ 0.625
Common stock, shares authorized	860,000,000	860,000,000
Common stock, shares issued	413,605,559	412,612,102
Treasury stock, shares	33,171,015	33,172,426

Statement of Consolidated Chang

Statement of Consolidated Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Apache Shareholders' Equity [Member]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2015	$ 9,490	$ 257	$ 12,619	$ (1,980)	$ (2,889)	$ (119)	$ 7,888	$ 1,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(371)			(372)			(372)	1
Distributions to noncontrolling interest	(54)							(54)
Common dividends	(95)		(95)				(95)
Other	30	0	29		1		30
Ending Balance at Mar. 31, 2016	9,000	257	12,553	(2,352)	(2,888)	(119)	7,451	1,549
Beginning Balance at Dec. 31, 2016	7,679	258	12,364	(3,385)	(2,887)	(112)	6,238	1,441
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	267			213			213	54
Distributions to noncontrolling interest	(57)							(57)
Common dividends	(95)		(95)				(95)
Other	29	0	36	(7)			29
Ending Balance at Mar. 31, 2017	$ 7,823	$ 258	$ 12,305	$ (3,179)	$ (2,887)	$ (112)	$ 6,385	$ 1,438

Statement of Consolidated Chan7

Statement of Consolidated Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share	$ 0.25	$ 0.25

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As of March 31, 2017 , Apache’s significant accounting policies are consistent with those discussed in Note 1—Summary of Significant Accounting Policies of its consolidated financial statements contained in Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 , with the exception of Accounting Standards Update (ASU) 2016-09, “Improvements to Employee Share-Based Payment Accounting” (see “Recently Adopted Accounting Pronouncement” section in this Note 1 below). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates with regard to these financial statements include the fair value determination of acquired assets and liabilities, the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom, the assessment of asset retirement obligations, the estimates of fair value for long-lived assets and goodwill, and the estimate of income taxes. Actual results could differ from those estimates. Fair Value Measurements Certain assets and liabilities are reported at fair value on a recurring basis in Apache’s consolidated balance sheet. Accounting Standards Codification (ASC) 820-10-35, “Fair Value Measurement,” provides a hierarchy that prioritizes and defines the types of inputs used to measure fair value. The fair value hierarchy gives the highest priority to Level 1 inputs, which consist of unadjusted quoted prices for identical instruments in active markets. Level 2 inputs consist of quoted prices for similar instruments. Level 3 valuations are derived from inputs that are significant and unobservable; hence, these valuations have the lowest priority. The valuation techniques that may be used to measure fair value include a market approach, an income approach, and a cost approach. A market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. An income approach uses valuation techniques to convert future amounts to a single present amount based on current market expectations, including present value techniques, option-pricing models, and the excess earnings method. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Apache also uses fair value measurements on a nonrecurring basis when certain qualitative assessments of its assets indicate a potential impairment. For the first quarter of 2017 , the Company recorded asset impairments in connection with fair value assessments totaling $8 million for a United Kingdom (U.K.) Petroleum Revenue Tax (PRT) decommissioning asset that is no longer expected to be realizable from future abandonment activities in the North Sea. The Company did not record any asset impairments in connection with fair value assessments in the first quarter of 2016 . In 2016, the U.K. government enacted Finance Bill 2016, providing tax relief to exploration and production (E&P) companies operating in the U.K. North Sea. Under the enacted legislation, the U.K. PRT rate was reduced to zero from the previously enacted 35 percent rate in effect from January 1, 2016. PRT expense ceased prospectively from that date. During the first quarter of 2017, the Company fully impaired the aggregate remaining value of the recoverable PRT decommissioning asset of $8 million that would have been realized from future abandonment activities. The recoverable value of the PRT decommissioning asset was estimated using the income approach. The expected future cash flows used in the determination were based on anticipated spending and timing of planned future abandonment activities for applicable fields, considering all available information at the date of review. Apache has classified this fair value measurement as Level 3 in the fair value hierarchy. Oil and Gas Property The Company follows the successful efforts method of accounting for its oil and gas property. Under this method of accounting, exploration costs such as exploratory geological and geophysical costs, delay rentals, and exploration overhead are expensed as incurred. All costs related to production, general corporate overhead, and similar activities are expensed as incurred. If an exploratory well provides evidence to justify potential development of reserves, drilling costs associated with the well are initially capitalized, or suspended, pending a determination as to whether a commercially sufficient quantity of proved reserves can be attributed to the area as a result of drilling. This determination may take longer than one year in certain areas depending on, among other things, the amount of hydrocarbons discovered, the outcome of planned geological and engineering studies, the need for additional appraisal drilling activities to determine whether the discovery is sufficient to support an economic development plan, and government sanctioning of development activities in certain international locations. At the end of each quarter, management reviews the status of all suspended exploratory well costs in light of ongoing exploration activities; in particular, whether the Company is making sufficient progress in its ongoing exploration and appraisal efforts or, in the case of discoveries requiring government sanctioning, whether development negotiations are underway and proceeding as planned. If management determines that future appraisal drilling or development activities are unlikely to occur, associated suspended exploratory well costs are expensed. Acquisition costs of unproved properties are assessed for impairment at least annually and are transferred to proved oil and gas properties to the extent the costs are associated with successful exploration activities. Significant undeveloped leases are assessed individually for impairment based on the Company’s current exploration plans. Unproved oil and gas properties with individually insignificant lease acquisition costs are amortized on a group basis over the average lease term at rates that provide for full amortization of unsuccessful leases upon lease expiration or abandonment. Costs of expired or abandoned leases are charged to exploration expense, while costs of productive leases are transferred to proved oil and gas properties. Costs of maintaining and retaining unproved properties, as well as amortization of individually insignificant leases and impairment of unsuccessful leases, are included in exploration costs in the statement of consolidated operations. Costs to develop proved reserves, including the costs of all development wells and related equipment used in the production of crude oil and natural gas, are capitalized. Depreciation of the cost of proved oil and gas properties is calculated using the unit-of-production (UOP) method. The UOP calculation multiplies the percentage of estimated proved reserves produced each quarter by the carrying value of those reserves. The reserve base used to calculate depreciation for leasehold acquisition costs and the cost to acquire proved properties is the sum of proved developed reserves and proved undeveloped reserves. The reserve base to calculate the depreciation for capitalized costs of exploratory wells and development costs is the sum of proved developed reserves only. Estimated future dismantlement, restoration and abandonment costs, net of salvage values, are included in the depreciable cost. Oil and gas properties are grouped for depreciation in accordance with ASC 932, “Extractive Activities - Oil and Gas.” The basis for grouping is a reasonable aggregation of properties with a common geological structural feature or stratigraphic condition, such as a reservoir or field. When circumstances indicate that proved oil and gas properties may be impaired, the Company compares unamortized capitalized costs to the expected undiscounted pre-tax future cash flows for the associated assets grouped at the lowest level for which identifiable cash flows are independent of cash flows of other assets. If the expected undiscounted pre-tax future cash flows, based on Apache’s estimate of future crude oil and natural gas prices, operating costs, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally estimated using the income approach described in the ASC 820, “Fair Value Measurement.” If applicable, the Company utilizes prices and other relevant information generated by market transactions involving assets and liabilities that are identical or comparable to the item being measured as the basis for determining fair value. The expected future cash flows used for impairment reviews and related fair value calculations are typically based on judgmental assessments of future production volumes, commodity prices, operating costs, and capital investment plans, considering all available information at the date of review. These assumptions are applied to develop future cash flow projections that are then discounted to estimated fair value, using a discount rate believed to be consistent with those applied by market participants. Apache has classified these fair value measurements as Level 3 in the fair value hierarchy. The following table represents non-cash impairments of the carrying value of the Company’s proved and unproved property and equipment for the first quarters of 2017 and 2016 : Quarter Ended March 31, 2017 2016 (In millions) Oil and Gas Property: Proved $ — $ — Unproved 15 42 On the statement of consolidated operations, unproved impairments are recorded in exploration expense, and proved impairments are recorded in impairments. Gains and losses on significant divestitures are recognized separately in the statement of consolidated operations. Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of accounting for share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The guidance was effective for fiscal years beginning after December 15, 2016. The Company adopted ASU 2016-09 effective January 1, 2017. Upon adoption, the Company elected to account for forfeitures as they occur rather than estimate expected forfeitures using a modified retrospective transition method. As a result of this election, the Company recorded a cumulative-effect adjustment of $11 million , representing an increase in accumulated deficit, with the offset to paid-in capital. The Company recorded a $4 million deferred tax asset related to this adjustment, with the offset to accumulated deficit. ASU 2016-09 requires excess tax benefits and deficiencies to be recognized prospectively as part of the provision for income taxes rather than paid-in capital. The adoption did not have a material impact on the Company’s accounting of provision for income taxes. ASU 2016-09 also requires excess tax benefits to be presented as a component of operating cash flows rather than financing cash flows. The Company has adopted this requirement prospectively and accordingly, prior periods have not been adjusted. Excess tax benefits were not material for all periods presented. Additionally, ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows, which is how the Company has historically classified these amounts. New Pronouncements Issued But Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” requiring lessees to recognize lease assets and lease liabilities for most leases classified as operating leases under previous U.S. GAAP. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements. In May 2014, the FASB and the International Accounting Standards Board (IASB) issued a joint revenue recognition standard, ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” The new standard removes inconsistencies in existing standards, changes the way companies recognize revenue from contracts with customers, and increases disclosure requirements. The codification was amended through additional ASUs and, as amended, requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance is effective for annual and interim periods beginning after December 15, 2017. The standard is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet. Upon preliminary evaluation of contracts in each of the Company’s revenue streams, the Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. The Company is continuing to evaluate the disclosure requirements, developing accounting policies, and assessing changes to the relevant business processes and the control activities within them as a result of the provisions of this ASU. The Company will adopt the new standard utilizing the modified retrospective approach and does not plan on early adopting the standard.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Mar. 31, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURES 2017 Activity During the first quarter of 2017, Apache completed the sale of certain non-core assets, primarily in the Permian region, in multiple transactions for cash proceeds of $466 million , subject to customary closing adjustments. A refundable deposit of $40 million was received in the fourth quarter of 2016 in connection with these transactions. The Company recognized gains of approximately $341 million during the first quarter in connection with these transactions. During the fourth quarter of 2016, Apache entered into an agreement to sell its 30.28 percent interest in the Scottish Area Gas Evacuation system (SAGE) and its 60.56 percent interest in the Beryl pipeline in the North Sea to Ancala Midstream Acquisitions Limited (Ancala). The transaction is subject to regulatory and third party approvals, which are ongoing in 2017. The Company received a refundable deposit in connection with this transaction, which is recorded in “Other current liabilities” on the consolidated balance sheet. The refundable deposit was $134 million as of March 31, 2017 . Leasehold and Property Acquisitions During the first quarter of 2017 , Apache completed $49 million of leasehold and property acquisitions primarily in its North America onshore regions. 2016 Activity Leasehold and Property Acquisitions During the first quarter of 2016 , Apache completed $19 million of leasehold and property acquisitions primarily in its North America onshore regions.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
Derivative Instruments and Hedging Activities	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Objectives and Strategies The Company is exposed to fluctuations in crude oil and natural gas prices on the majority of its worldwide production. Apache manages the variability in its cash flows by occasionally entering into derivative transactions on a portion of its crude oil and natural gas production. The Company utilizes various types of derivative financial instruments to manage fluctuations in cash flows resulting from changes in commodity prices. During the first quarter of 2017, the Company entered into put option derivative contracts not designated as cash flow hedges for 2017 crude oil production of 175,000 barrels per day. These contracts will be settled against either NYMEX WTI or Dated Brent between July 1, 2017 and December 31, 2017, with a weighted average strike price of $50.47 per barrel. Apache paid a total premium of $100 million for these contracts, averaging $3.09 per barrel. Counterparty Risk The use of derivative instruments exposes the Company to credit loss in the event of nonperformance by the counterparty. To reduce the concentration of exposure to any individual counterparty, Apache utilizes a diversified group of investment-grade rated counterparties, primarily financial institutions, for its derivative transactions. As of March 31, 2017 , Apache had derivative positions with 12 counterparties. The Company monitors counterparty creditworthiness on an ongoing basis; however, it cannot predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, the Company may be limited in its ability to mitigate an increase in counterparty credit risk. Should one of these counterparties not perform, Apache may not realize the benefit of some of its derivative instruments resulting from lower commodity prices. Derivative Instruments As of March 31, 2017 , Apache had the following commodity derivative positions: Put Options Production Period Commodity Settlement Index Mbbls Weighted Average Strike Price July 2017 - December 2017 Crude Oil NYMEX WTI 16,928 $50.00 July 2017 - December 2017 Crude Oil Dated Brent 15,272 $51.00 Apache elected not to designate any of these oil derivatives as cash flow hedges. Changes in the fair value of these derivatives are recorded in “Other” under “Revenues and Other” in the Company’s statement of consolidated operations, but were nominal in the first quarter of 2017 . Fair Value Measurements Apache’s commodity derivative instruments consist of put options. The fair values of the Company’s derivatives are not actively quoted in the open market. The Company uses a market approach to estimate the fair values of its derivative instruments on a recurring basis, utilizing commodity futures pricing for the underlying commodities provided by a reputable third party, a Level 2 fair value measurement. The fair value of the Company’s derivative assets at March 31, 2017 , was $100 million and is reflected in “Prepaid assets and other” in the Company’s consolidated balance sheet.

Capitalized Exploratory Well Co

Capitalized Exploratory Well Costs	3 Months Ended
Capitalized Exploratory Well Costs	Mar. 31, 2017
Extractive Industries [Abstract]
Capitalized Exploratory Well Costs	CAPITALIZED EXPLORATORY WELL COSTS The Company’s capitalized exploratory well costs were $261 million and $264 million at March 31, 2017 and December 31, 2016 , respectively. The decrease is primarily attributable to successful transfers and dry hole write-offs, partially offset by additional drilling activities in the quarter. No suspended exploratory well costs previously capitalized for greater than one year at December 31, 2016 were charged to dry hole expense during the three months ended March 31, 2017. Projects with suspended exploratory well costs capitalized for a period greater than one year since the completion of drilling are those identified by management as exhibiting sufficient quantities of hydrocarbons to justify potential development. Management is actively pursuing efforts to assess whether reserves can be attributed to these projects.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
Other Current Liabilities	Mar. 31, 2017
Payables and Accruals [Abstract]
Other Current Liabilities	OTHER CURRENT LIABILITIES The following table provides detail of the Company’s other current liabilities as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 (In millions) Accrued operating expenses $ 106 $ 110 Accrued exploration and development 590 463 Accrued compensation and benefits 56 201 Accrued interest 107 145 Accrued income taxes 50 22 Current debt 150 — Current asset retirement obligation 56 66 Refundable deposits 134 174 Other 85 77 Total other current liabilities $ 1,334 $ 1,258

Asset Retirement Obligation

Asset Retirement Obligation	3 Months Ended
Asset Retirement Obligation	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	ASSET RETIREMENT OBLIGATION The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the three -month period ended March 31, 2017 : (In millions) Asset retirement obligation at December 31, 2016 $ 2,498 Liabilities divested (5 ) Liabilities settled (13 ) Accretion expense 36 Asset retirement obligation at March 31, 2017 2,516 Less current portion 56 Asset retirement obligation, long-term $ 2,460

Debt and Financing Costs

Debt and Financing Costs	3 Months Ended
Debt and Financing Costs	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt and Financing Costs	DEBT AND FINANCING COSTS The following table presents the carrying amounts and estimated fair values of the Company’s outstanding debt as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Commercial paper and committed bank facilities $ — $ — $ — $ — Notes and debentures 8,477 9,010 8,544 9,183 Total Debt $ 8,477 $ 9,010 $ 8,544 $ 9,183 The Company’s debt is recorded at the carrying amount, net of related unamortized discount and debt issuance costs, on its consolidated balance sheet. When recorded, the carrying amount of the Company’s commercial paper, committed bank facilities, and uncommitted bank lines approximates fair value because the interest rates are variable and reflective of market rates. Apache uses a market approach to determine the fair value of its notes and debentures using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement). The following table presents the carrying value of the Company’s debt as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 (In millions) Debt before unamortized discount and debt issuance costs $ 8,580 $ 8,650 Unamortized discount (49 ) (50 ) Debt issuance costs (54 ) (56 ) Total debt 8,477 8,544 Current maturities (150 ) — Long-term debt $ 8,327 $ 8,544 As of March 31, 2017 , current debt included $150 million 7 percent senior notes due February 1, 2018. As of March 31, 2017 , the Company had a revolving credit facility that matures in June 2020 , subject to Apache’s two , one -year extension options. The facility provides for aggregate commitments of $3.5 billion (including a $750 million letter of credit subfacility), with rights to increase commitments up to an aggregate $4.5 billion . Proceeds from borrowings may be used for general corporate purposes. Apache’s available borrowing capacity under this facility supports its $3.5 billion commercial paper program. The commercial paper program, which is subject to market availability, facilitates Apache borrowing funds for up to 270 days at competitive interest rates. As of March 31, 2017 , the Company had no commercial paper or borrowings under committed bank facilities or uncommitted bank lines outstanding. As of March 31, 2017 , the Company had a letter of credit facility, which provides for £900 million in commitments and rights to increase commitments to £1.075 billion . In March 2017, the term of this facility was extended by one year to February 2020 pursuant to the Company’s exercise of its extension option. The facility is available for letters of credit and loans to cash collateralize letters of credit or obligations to provide letters of credit, in each case, to the extent letters of credit are unavailable under the facility. As of March 31, 2017 , three letters of credit aggregating approximately £147.5 million and no borrowings were outstanding under this facility. In November 2016, the Company initiated a program to purchase in the open market up to $250 million in aggregate principal amount of senior notes issued under its indentures. In the fourth quarter of 2016, the Company purchased and canceled $181 million aggregate principal amount of its senior notes through open market repurchases for $182 million in cash, including accrued interest and $0.5 million of premium. In January 2017, the Company purchased and canceled an additional $69 million aggregate principal amount of senior notes for $71 million in cash, including accrued interest and $1 million of premium, which completed the open market repurchase program. These repurchases resulted in a $1 million net loss on extinguishment of debt, which is included in “Financing costs, net” in the Company’s consolidated statement of operations. The net loss includes an acceleration of related discount and deferred financing costs. Financing Costs, Net The following table presents the components of Apache’s financing costs, net: For the Quarter Ended March 31, 2017 2016 (In millions) Interest expense $ 116 $ 116 Amortization of deferred loan costs 2 1 Capitalized interest (14 ) (11 ) Loss on extinguishment of debt 1 — Interest income (5 ) (1 ) Financing costs, net $ 100 $ 105

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company estimates its annual effective income tax rate for continuing operations in recording its quarterly provision for income taxes in the various jurisdictions in which the Company operates. Non-cash impairments of the carrying value of the Company’s oil and gas properties, gains and losses on the sale of assets, statutory tax rate changes, and other significant or unusual items are recognized as discrete items in the quarter in which they occur. During the first quarter of 2017 , Apache’s effective income tax rate was primarily impacted by gains on the sale of oil and gas properties, non-cash impairments of the Company’s PRT decommissioning asset, and an increase in the amount of valuation allowance on Canadian deferred tax assets. During the first quarter of 2016 , Apache’s effective income tax rate was primarily impacted by an increase in the valuation allowance on Canadian deferred tax assets. Apache and its subsidiaries are subject to U.S. federal income tax as well as income or capital taxes in various state and foreign jurisdictions. The Company’s tax reserves are related to tax years that may be subject to examination by the relevant taxing authority. In April 2017, the Internal Revenue Service (IRS) began their audit of the Company’s 2014 tax year. The Company is also under audit in various states and in most of the Company’s foreign jurisdictions as part of its normal course of business.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Matters Apache is party to various legal actions arising in the ordinary course of business, including litigation and governmental and regulatory controls. As of March 31, 2017 , the Company has an accrued liability of approximately $16 million for all legal contingencies that are deemed to be probable of occurring and can be reasonably estimated. Apache’s estimates are based on information known about the matters and its experience in contesting, litigating, and settling similar matters. Although actual amounts could differ from management’s estimate, none of the actions are believed by management to involve future amounts that would be material to Apache’s financial position, results of operations, or liquidity after consideration of recorded accruals. For material matters that Apache believes an unfavorable outcome is reasonably possible, the Company has disclosed the nature of the matter and a range of potential exposure, unless an estimate cannot be made at this time. It is management’s opinion that the loss for any other litigation matters and claims that are reasonably possible to occur will not have a material adverse effect on the Company’s financial position, results of operations, or liquidity. For additional information on each of the Legal Matters described below, please see Note 10—Commitments and Contingencies to the consolidated financial statements contained in Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Argentine Environmental Claims and Argentina Tariff No material change in the status of the YPF Sociedad Anónima and Pioneer Natural Resources Company indemnities matters has occurred since the filing of Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Louisiana Restoration As more fully described in Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 , numerous surface owners have filed claims or sent demand letters to various oil and gas companies, including Apache, claiming that, under either express or implied lease terms or Louisiana law, the companies are liable for damage measured by the cost of restoration of leased premises to their original condition as well as damages for contamination and cleanup. On July 24, 2013, a lawsuit captioned Board of Commissioners of the Southeast Louisiana Flood Protection Authority – East v. Tennessee Gas Pipeline Company et al. , Case No. 2013-6911 was filed in the Civil District Court for the Parish of Orleans, State of Louisiana, in which plaintiff on behalf of itself and as the board governing the levee districts of Orleans, Lake Borgne Basin, and East Jefferson alleged that Louisiana coastal lands have been damaged as a result of oil and gas industry activity, including a network of canals for access and pipelines. The defendants removed the case from state court to federal court and, on February 13, 2015, the federal court entered judgment in favor of defendants dismissing all of plaintiff’s claims with prejudice. Plaintiff appealed the lower court’s dismissal to the 5 th Circuit Court of Appeals and additionally challenged the defendants’ right to remove the case to federal court. On March 3, 2017, the 5 th Circuit Court of Appeals affirmed the propriety of federal jurisdiction based in part on Apache’s argument that plaintiff’s state-based claims required a resolution of substantial questions of federal law and also affirmed the dismissal of the action. Starting in November of 2013 and continuing into 2016, several Parishes in Louisiana have filed lawsuits against many oil and gas producers, including Apache. These cases are pending in federal and state courts in Louisiana. In these cases, the Parishes, as plaintiffs, allege that defendants’ oil and gas exploration, production, and transportation operations in specified fields were conducted in violation of the State and Local Coastal Resources Management Act of 1978, as amended, and applicable regulations, rules, orders, and ordinances promulgated or adopted thereunder by the Parish or the State of Louisiana. Plaintiffs allege that defendants caused substantial damage to land and water bodies located in the coastal zone of Louisiana. Plaintiffs seek, among other things, unspecified damages for alleged violations of applicable state law within the coastal zone, the payment of costs necessary to clear, re-vegetate, detoxify, and otherwise restore the subject coastal zone as near as practicable to its original condition, and actual restoration of the coastal zone to its original condition. While an adverse judgment against Apache might be possible, Apache intends to vigorously oppose these claims. No other material change in the status of these matters has occurred since the filing of Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Apollo Exploration Lawsuit In a fourth amended petition filed on March 21, 2016, in a case captioned Apollo Exploration, LLC, Cogent Exploration, Ltd. Co. & SellmoCo, LLC v. Apache Corporation , Cause No. CV50538 in the 385 th Judicial District Court, Midland County, Texas, plaintiffs have reduced their alleged damages to approximately $500 million (having previously claimed in excess of $1.1 billion ) relating to certain purchase and sale agreements, mineral leases, and areas of mutual interest agreements concerning properties located in Hartley, Moore, Potter, and Oldham Counties, Texas. Apache believes that plaintiffs’ claims lack merit, and further that plaintiffs’ alleged damages, even as amended, are grossly inflated. Apache will vigorously oppose the claims. No other material change in the status of these matters has occurred since the filing of Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Escheat Audits There has been no material change with respect to the review of the books and records of the Company and its subsidiaries and related entities by the State of Delaware, Department of Finance (Unclaimed Property), to determine compliance with the Delaware Escheat Laws, since the filing of Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Environmental Matters As of March 31, 2017 , the Company had an undiscounted reserve for environmental remediation of approximately $51 million . The Company is not aware of any environmental claims existing as of March 31, 2017 , that have not been provided for or would otherwise have a material impact on its financial position, results of operations, or liquidity. There can be no assurance, however, that current regulatory requirements will not change or past non-compliance with environmental laws will not be discovered on the Company’s properties. Apache Canada Ltd. (ACL) reported a produced water release from a water injection pipeline in a remote area of the Belloy Field that occurred on or about May 4, 2016 and a hydrogen sulfide and oil emulsion leak in the Zama area on or about September 17, 2016. The affected areas have been or are currently being remediated. The Company does not expect the economic impact of any of these incidents to have a material effect on the Company’s financial position, results of operations, or liquidity. No other material change in the status of these matters has occurred since the filing of Apache’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 . Australian Operations Divestiture Dispute By a Sale and Purchase Agreement dated April 9, 2015 (SPA), the Company and its subsidiaries divested their remaining Australian operations to Viraciti Energy Pty Ltd, which has since been renamed Quadrant Energy Pty Ltd (Quadrant). Closing occurred on June 5, 2015. By letter dated June 6, 2016, Quadrant provided the Company with a one -year placeholder notice of claim under the SPA concerning tax and other issues totaling approximately $200 million in the aggregate. The Company is in the process of reviewing the issues raised by Quadrant and believes at this time that these matters will not have a material adverse effect on the Company’s financial position, results of operation, or liquidity.

Capital Stock

Capital Stock	3 Months Ended
Capital Stock	Mar. 31, 2017
Equity [Abstract]
Capital Stock	CAPITAL STOCK Net Income (Loss) per Common Share A reconciliation of the components of basic and diluted net income (loss) per common share for the quarters ended March 31, 2017 and 2016 , is presented in the table below. For the Quarter Ended March 31, 2017 2016 Income Shares Per Share Loss Shares Per Share (In millions, except per share amounts) Basic: Income (loss) attributable to common stock $ 213 380 $ 0.56 $ (372 ) 378 $ (0.98 ) Effect of Dilutive Securities: Stock options and other $ — 3 $ — $ — — $ — Diluted: Income (loss) attributable to common stock $ 213 383 $ 0.56 $ (372 ) 378 $ (0.98 ) The diluted earnings per share calculation excludes options and restricted stock units that were anti-dilutive totaling 8.4 million and 7.1 million for the quarters ended March 31, 2017 and 2016 , respectively. Common Stock Dividends For each of the quarters ended March 31, 2017 , and 2016 , Apache paid $95 million in dividends on its common stock. Stock Repurchase Program Apache’s Board of Directors has authorized the purchase of up to 40 million shares of the Company’s common stock. Shares may be purchased either in the open market or through privately negotiated transactions. The Company initiated the buyback program on June 10, 2013, and through March 31, 2017 , had repurchased a total of 32.2 million shares at an average price of $88.96 per share. The Company is not obligated to acquire any specific number of shares and has not purchased any shares during 2017 .

Business Segment Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2017
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Apache is engaged in a single line of business. Both domestically and internationally, the Company explores for, develops, and produces natural gas, crude oil, and natural gas liquids. At March 31, 2017 , the Company had production in four reporting segments: the United States, Canada, Egypt, and offshore the United Kingdom in the North Sea (North Sea). Apache also has exploration interests in Suriname that may, over time, result in a reportable discovery and development opportunity. Financial information for each area is presented below: United States Canada Egypt (1) North Sea Other International Total (In millions) For the Quarter Ended March 31, 2017 Oil and Gas Production Revenues $ 552 $ 102 $ 591 $ 267 $ — $ 1,512 Operating Income (Loss) (2) $ 60 $ (13 ) $ 301 $ 38 $ (21 ) $ 365 Other Income (Expense): Gain on divestitures, net 341 Other 25 General and administrative (103 ) Transaction, reorganization, and separation 10 Financing costs, net (100 ) Income Before Income Taxes $ 538 Total Assets $ 12,361 $ 1,556 $ 5,006 $ 3,634 $ 53 $ 22,610 For the Quarter Ended March 31, 2016 Oil and Gas Production Revenues $ 409 $ 83 $ 392 $ 203 $ — $ 1,087 Operating Income (Loss) (2) $ (159 ) $ (62 ) $ 42 $ 14 $ — $ (165 ) Other Income (Expense): Loss on divestitures, net (1 ) Other (3 ) General and administrative (93 ) Transaction, reorganization, and separation (15 ) Financing costs, net (105 ) Loss Before Income Taxes $ (382 ) Total Assets $ 12,726 $ 2,118 $ 5,527 $ 4,314 $ 49 $ 24,734 (1) Includes a noncontrolling interest in Egypt. (2) Operating income (loss) consists of oil and gas production revenues less lease operating expenses, gathering and transportation costs, taxes other than income, exploration costs, depreciation, depletion, and amortization, asset retirement obligation accretion, and impairments. The operating income (loss) of U.S. and North Sea includes asset impairments totaling $15 million and $8 million , respectively, for the first quarter of 2017 . The operating income (loss) of U.S. and Canada includes asset impairments totaling $40 million and $2 million , respectively, for the first quarter of 2016 .

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
Supplemental Guarantor Information	Mar. 31, 2017
Guarantees [Abstract]
Supplemental Guarantor Information	SUPPLEMENTAL GUARANTOR INFORMATION In December 1999, Apache Finance Canada issued approximately $300 million of publicly-traded notes due in 2029 . The notes are fully and unconditionally guaranteed by Apache. The following condensed consolidating financial statements are provided as an alternative to filing separate financial statements. Apache Finance Canada is 100 percent owned by Apache Corporation. As such, these condensed consolidating financial statements should be read in conjunction with Apache’s consolidated financial statements and the notes thereto, of which this note is an integral part. Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) REVENUES AND OTHER: Oil and gas production revenues $ 284 $ — $ 1,228 $ — $ 1,512 Equity in net income (loss) of affiliates 222 (1 ) — (221 ) — Other 8 8 9 — 25 Gain on divestitures 141 — 200 — 341 655 7 1,437 (221 ) 1,878 OPERATING EXPENSES: Lease operating expenses 81 — 255 — 336 Gathering and transportation 7 — 50 — 57 Taxes other than income 23 — 19 — 42 Exploration 28 — 64 — 92 General and administrative 90 — 13 — 103 Transaction, reorganization, and separation (10 ) — — — (10 ) Depreciation, depletion, and amortization 135 — 441 — 576 Asset retirement obligation accretion 6 — 30 — 36 Impairments — — 8 — 8 Financing costs, net 60 6 34 — 100 420 6 914 — 1,340 NET INCOME (LOSS) BEFORE INCOME TAXES 235 1 523 (221 ) 538 Provision for income taxes 22 2 247 — 271 NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST 213 (1 ) 276 (221 ) 267 Net income attributable to noncontrolling interest — — 54 — 54 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ 213 $ (1 ) $ 222 $ (221 ) $ 213 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) REVENUES AND OTHER: Oil and gas production revenues $ 217 $ — $ 870 $ — $ 1,087 Equity in net income (loss) of affiliates (108 ) (26 ) — 134 — Other 28 12 (43 ) — (3 ) Loss on divestitures (1 ) — — — (1 ) 136 (14 ) 827 134 1,083 OPERATING EXPENSES: Lease operating expenses 78 — 300 — 378 Gathering and transportation 8 — 44 — 52 Taxes other than income 21 — (10 ) — 11 Exploration 50 — 45 — 95 General and administrative 77 — 16 — 93 Transaction, reorganization, and separation 15 — — — 15 Depreciation, depletion, and amortization 156 — 522 — 678 Asset retirement obligation accretion 4 — 34 — 38 Impairments — — — — — Financing costs, net 61 10 34 — 105 470 10 985 — 1,465 NET INCOME (LOSS) BEFORE INCOME TAXES (334 ) (24 ) (158 ) 134 (382 ) Provision (benefit) for income taxes 37 2 (50 ) — (11 ) NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST (371 ) (26 ) (108 ) 134 (371 ) Net income attributable to noncontrolling interest — — 1 — 1 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ (371 ) $ (26 ) $ (109 ) $ 134 $ (372 ) APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2017 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (24 ) $ (2 ) $ 481 $ — $ 455 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to oil and gas property (171 ) — (151 ) — (322 ) Leasehold and property acquisitions (45 ) — (4 ) — (49 ) Additions to gas gathering, transmission, and processing facilities — — (142 ) — (142 ) Proceeds from sale of oil and gas properties — — 426 — 426 Investment in subsidiaries, net 323 — — (323 ) — Other (9 ) — 3 — (6 ) NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 98 — 132 (323 ) (93 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany borrowings — 2 (325 ) 323 — Payment of fixed-rate debt (70 ) — — — (70 ) Distributions to noncontrolling interest — — (57 ) — (57 ) Dividends paid (95 ) — — — (95 ) Other — — 4 — 4 NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (165 ) 2 (378 ) 323 (218 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (91 ) — 235 — 144 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 344 — 1,033 — 1,377 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 253 $ — $ 1,268 $ — $ 1,521 APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2016 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) CASH PROVIDED BY OPERATING ACTIVITIES $ 44 $ 11 $ 184 $ — $ 239 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to oil and gas property (81 ) — (465 ) — (546 ) Leasehold and property acquisitions (19 ) — — — (19 ) Additions to gas gathering, transmission, and processing facilities 1 — (1 ) — — Investment in subsidiaries, net (6 ) — — 6 — Other (34 ) — 44 — 10 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (139 ) — (422 ) 6 (555 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany borrowings — (7 ) 13 (6 ) — Distributions to noncontrolling interest — — (54 ) — (54 ) Dividends paid (95 ) — — — (95 ) Other 1 (4 ) 5 — 2 NET CASH USED IN FINANCING ACTIVITIES (94 ) (11 ) (36 ) (6 ) (147 ) NET DECREASE IN CASH AND CASH EQUIVALENTS (189 ) — (274 ) — (463 ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 378 — 1,089 — 1,467 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 189 $ — $ 815 $ — $ 1,004 APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2017 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 253 $ — $ 1,268 $ — $ 1,521 Receivables, net of allowance 321 — 850 — 1,171 Inventories 25 — 429 — 454 Drilling advances 4 — 89 — 93 Prepaid assets and other 140 — 47 — 187 Intercompany receivable 5,199 — — (5,199 ) — 5,942 — 2,683 (5,199 ) 3,426 PROPERTY AND EQUIPMENT, NET 7,108 — 11,672 — 18,780 OTHER ASSETS: Intercompany receivable — — 12,531 (12,531 ) — Equity in affiliates 15,739 (1,234 ) 699 (15,204 ) — Deferred charges and other 101 1,000 303 (1,000 ) 404 $ 28,890 $ (234 ) $ 27,888 $ (33,934 ) $ 22,610 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 364 $ (10 ) $ 210 $ — $ 564 Other current liabilities 593 8 733 — 1,334 Intercompany payable — — 5,199 (5,199 ) — 957 (2 ) 6,142 (5,199 ) 1,898 LONG-TERM DEBT 8,030 297 — — 8,327 DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES: Intercompany payable 12,531 — — (12,531 ) — Income taxes (252 ) 5 2,036 — 1,789 Asset retirement obligation 344 — 2,116 — 2,460 Other 895 1 417 (1,000 ) 313 13,518 6 4,569 (13,531 ) 4,562 COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY 6,385 (535 ) 15,739 (15,204 ) 6,385 Noncontrolling interest — — 1,438 — 1,438 TOTAL EQUITY 6,385 (535 ) 17,177 (15,204 ) 7,823 $ 28,890 $ (234 ) $ 27,888 $ (33,934 ) $ 22,610 APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 344 $ — $ 1,033 $ — $ 1,377 Receivables, net of allowance 358 — 770 — 1,128 Inventories 29 — 447 — 476 Drilling advances 4 — 77 — 81 Prepaid assets and other 134 — 45 — 179 Intercompany receivable 5,038 — — (5,038 ) — 5,907 — 2,372 (5,038 ) 3,241 PROPERTY AND EQUIPMENT, NET 7,014 — 11,853 — 18,867 OTHER ASSETS: Intercompany receivable — — 12,152 (12,152 ) — Equity in affiliates 15,517 (1,240 ) 706 (14,983 ) — Deferred charges and other 97 1,000 314 (1,000 ) 411 $ 28,535 $ (240 ) $ 27,397 $ (33,173 ) $ 22,519 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 371 $ (12 ) $ 226 $ — $ 585 Other current liabilities 653 3 602 — 1,258 Intercompany payable — — 5,038 (5,038 ) — 1,024 (9 ) 5,866 (5,038 ) 1,843 LONG-TERM DEBT 8,247 297 — — 8,544 DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES: Intercompany payable 12,152 — — (12,152 ) — Income taxes (271 ) 5 1,976 — 1,710 Asset retirement obligation 257 — 2,175 — 2,432 Other 888 1 422 (1,000 ) 311 13,026 6 4,573 (13,152 ) 4,453 COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY 6,238 (534 ) 15,517 (14,983 ) 6,238 Noncontrolling interest — — 1,441 — 1,441 TOTAL EQUITY 6,238 (534 ) 16,958 (14,983 ) 7,679 $ 28,535 $ (240 ) $ 27,397 $ (33,173 ) $ 22,519

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates with regard to these financial statements include the fair value determination of acquired assets and liabilities, the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom, the assessment of asset retirement obligations, the estimates of fair value for long-lived assets and goodwill, and the estimate of income taxes. Actual results could differ from those estimates.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are reported at fair value on a recurring basis in Apache’s consolidated balance sheet. Accounting Standards Codification (ASC) 820-10-35, “Fair Value Measurement,” provides a hierarchy that prioritizes and defines the types of inputs used to measure fair value. The fair value hierarchy gives the highest priority to Level 1 inputs, which consist of unadjusted quoted prices for identical instruments in active markets. Level 2 inputs consist of quoted prices for similar instruments. Level 3 valuations are derived from inputs that are significant and unobservable; hence, these valuations have the lowest priority. The valuation techniques that may be used to measure fair value include a market approach, an income approach, and a cost approach. A market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. An income approach uses valuation techniques to convert future amounts to a single present amount based on current market expectations, including present value techniques, option-pricing models, and the excess earnings method. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Apache also uses fair value measurements on a nonrecurring basis when certain qualitative assessments of its assets indicate a potential impairment. For the first quarter of 2017 , the Company recorded asset impairments in connection with fair value assessments totaling $8 million for a United Kingdom (U.K.) Petroleum Revenue Tax (PRT) decommissioning asset that is no longer expected to be realizable from future abandonment activities in the North Sea. The Company did not record any asset impairments in connection with fair value assessments in the first quarter of 2016 . In 2016, the U.K. government enacted Finance Bill 2016, providing tax relief to exploration and production (E&P) companies operating in the U.K. North Sea. Under the enacted legislation, the U.K. PRT rate was reduced to zero from the previously enacted 35 percent rate in effect from January 1, 2016. PRT expense ceased prospectively from that date. During the first quarter of 2017, the Company fully impaired the aggregate remaining value of the recoverable PRT decommissioning asset of $8 million that would have been realized from future abandonment activities. The recoverable value of the PRT decommissioning asset was estimated using the income approach. The expected future cash flows used in the determination were based on anticipated spending and timing of planned future abandonment activities for applicable fields, considering all available information at the date of review. Apache has classified this fair value measurement as Level 3 in the fair value hierarchy.
Oil and Gas Property	Oil and Gas Property The Company follows the successful efforts method of accounting for its oil and gas property. Under this method of accounting, exploration costs such as exploratory geological and geophysical costs, delay rentals, and exploration overhead are expensed as incurred. All costs related to production, general corporate overhead, and similar activities are expensed as incurred. If an exploratory well provides evidence to justify potential development of reserves, drilling costs associated with the well are initially capitalized, or suspended, pending a determination as to whether a commercially sufficient quantity of proved reserves can be attributed to the area as a result of drilling. This determination may take longer than one year in certain areas depending on, among other things, the amount of hydrocarbons discovered, the outcome of planned geological and engineering studies, the need for additional appraisal drilling activities to determine whether the discovery is sufficient to support an economic development plan, and government sanctioning of development activities in certain international locations. At the end of each quarter, management reviews the status of all suspended exploratory well costs in light of ongoing exploration activities; in particular, whether the Company is making sufficient progress in its ongoing exploration and appraisal efforts or, in the case of discoveries requiring government sanctioning, whether development negotiations are underway and proceeding as planned. If management determines that future appraisal drilling or development activities are unlikely to occur, associated suspended exploratory well costs are expensed. Acquisition costs of unproved properties are assessed for impairment at least annually and are transferred to proved oil and gas properties to the extent the costs are associated with successful exploration activities. Significant undeveloped leases are assessed individually for impairment based on the Company’s current exploration plans. Unproved oil and gas properties with individually insignificant lease acquisition costs are amortized on a group basis over the average lease term at rates that provide for full amortization of unsuccessful leases upon lease expiration or abandonment. Costs of expired or abandoned leases are charged to exploration expense, while costs of productive leases are transferred to proved oil and gas properties. Costs of maintaining and retaining unproved properties, as well as amortization of individually insignificant leases and impairment of unsuccessful leases, are included in exploration costs in the statement of consolidated operations. Costs to develop proved reserves, including the costs of all development wells and related equipment used in the production of crude oil and natural gas, are capitalized. Depreciation of the cost of proved oil and gas properties is calculated using the unit-of-production (UOP) method. The UOP calculation multiplies the percentage of estimated proved reserves produced each quarter by the carrying value of those reserves. The reserve base used to calculate depreciation for leasehold acquisition costs and the cost to acquire proved properties is the sum of proved developed reserves and proved undeveloped reserves. The reserve base to calculate the depreciation for capitalized costs of exploratory wells and development costs is the sum of proved developed reserves only. Estimated future dismantlement, restoration and abandonment costs, net of salvage values, are included in the depreciable cost. Oil and gas properties are grouped for depreciation in accordance with ASC 932, “Extractive Activities - Oil and Gas.” The basis for grouping is a reasonable aggregation of properties with a common geological structural feature or stratigraphic condition, such as a reservoir or field. When circumstances indicate that proved oil and gas properties may be impaired, the Company compares unamortized capitalized costs to the expected undiscounted pre-tax future cash flows for the associated assets grouped at the lowest level for which identifiable cash flows are independent of cash flows of other assets. If the expected undiscounted pre-tax future cash flows, based on Apache’s estimate of future crude oil and natural gas prices, operating costs, anticipated production from proved reserves and other relevant data, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is generally estimated using the income approach described in the ASC 820, “Fair Value Measurement.” If applicable, the Company utilizes prices and other relevant information generated by market transactions involving assets and liabilities that are identical or comparable to the item being measured as the basis for determining fair value. The expected future cash flows used for impairment reviews and related fair value calculations are typically based on judgmental assessments of future production volumes, commodity prices, operating costs, and capital investment plans, considering all available information at the date of review. These assumptions are applied to develop future cash flow projections that are then discounted to estimated fair value, using a discount rate believed to be consistent with those applied by market participants. Apache has classified these fair value measurements as Level 3 in the fair value hierarchy. The following table represents non-cash impairments of the carrying value of the Company’s proved and unproved property and equipment for the first quarters of 2017 and 2016 : Quarter Ended March 31, 2017 2016 (In millions) Oil and Gas Property: Proved $ — $ — Unproved 15 42 On the statement of consolidated operations, unproved impairments are recorded in exploration expense, and proved impairments are recorded in impairments. Gains and losses on significant divestitures are recognized separately in the statement of consolidated operations.
Recently Adopted Accounting Pronouncement and New Pronouncements Issued But Not Yet Adopted	Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of accounting for share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The guidance was effective for fiscal years beginning after December 15, 2016. The Company adopted ASU 2016-09 effective January 1, 2017. Upon adoption, the Company elected to account for forfeitures as they occur rather than estimate expected forfeitures using a modified retrospective transition method. As a result of this election, the Company recorded a cumulative-effect adjustment of $11 million , representing an increase in accumulated deficit, with the offset to paid-in capital. The Company recorded a $4 million deferred tax asset related to this adjustment, with the offset to accumulated deficit. ASU 2016-09 requires excess tax benefits and deficiencies to be recognized prospectively as part of the provision for income taxes rather than paid-in capital. The adoption did not have a material impact on the Company’s accounting of provision for income taxes. ASU 2016-09 also requires excess tax benefits to be presented as a component of operating cash flows rather than financing cash flows. The Company has adopted this requirement prospectively and accordingly, prior periods have not been adjusted. Excess tax benefits were not material for all periods presented. Additionally, ASU 2016-09 requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows, which is how the Company has historically classified these amounts. New Pronouncements Issued But Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” requiring lessees to recognize lease assets and lease liabilities for most leases classified as operating leases under previous U.S. GAAP. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements. In May 2014, the FASB and the International Accounting Standards Board (IASB) issued a joint revenue recognition standard, ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” The new standard removes inconsistencies in existing standards, changes the way companies recognize revenue from contracts with customers, and increases disclosure requirements. The codification was amended through additional ASUs and, as amended, requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance is effective for annual and interim periods beginning after December 15, 2017. The standard is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet. Upon preliminary evaluation of contracts in each of the Company’s revenue streams, the Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. The Company is continuing to evaluate the disclosure requirements, developing accounting policies, and assessing changes to the relevant business processes and the control activities within them as a result of the provisions of this ASU. The Company will adopt the new standard utilizing the modified retrospective approach and does not plan on early adopting the standard.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of Non-cash Impairments of Proved and Unproved Property and Equipment	The following table represents non-cash impairments of the carrying value of the Company’s proved and unproved property and equipment for the first quarters of 2017 and 2016 : Quarter Ended March 31, 2017 2016 (In millions) Oil and Gas Property: Proved $ — $ — Unproved 15 42

Derivative Instruments and He22

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of commodity derivative positions	As of March 31, 2017 , Apache had the following commodity derivative positions: Put Options Production Period Commodity Settlement Index Mbbls Weighted Average Strike Price July 2017 - December 2017 Crude Oil NYMEX WTI 16,928 $50.00 July 2017 - December 2017 Crude Oil Dated Brent 15,272 $51.00

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
Other Current Liabilities (Tables)	Mar. 31, 2017
Payables and Accruals [Abstract]
Detail of Other Current Liabilities	The following table provides detail of the Company’s other current liabilities as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 (In millions) Accrued operating expenses $ 106 $ 110 Accrued exploration and development 590 463 Accrued compensation and benefits 56 201 Accrued interest 107 145 Accrued income taxes 50 22 Current debt 150 — Current asset retirement obligation 56 66 Refundable deposits 134 174 Other 85 77 Total other current liabilities $ 1,334 $ 1,258

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	3 Months Ended
Asset Retirement Obligation (Tables)	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	The following table describes changes to the Company’s asset retirement obligation (ARO) liability for the three -month period ended March 31, 2017 : (In millions) Asset retirement obligation at December 31, 2016 $ 2,498 Liabilities divested (5 ) Liabilities settled (13 ) Accretion expense 36 Asset retirement obligation at March 31, 2017 2,516 Less current portion 56 Asset retirement obligation, long-term $ 2,460

Debt and Financing Costs (Table

Debt and Financing Costs (Tables)	3 Months Ended
Debt and Financing Costs (Tables)	Mar. 31, 2017
Debt Disclosure [Abstract]
Summary of Carrying Amounts and Estimated Fair Values	The following table presents the carrying amounts and estimated fair values of the Company’s outstanding debt as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In millions) Commercial paper and committed bank facilities $ — $ — $ — $ — Notes and debentures 8,477 9,010 8,544 9,183 Total Debt $ 8,477 $ 9,010 $ 8,544 $ 9,183
Schedule of Debt	The following table presents the carrying value of the Company’s debt as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 (In millions) Debt before unamortized discount and debt issuance costs $ 8,580 $ 8,650 Unamortized discount (49 ) (50 ) Debt issuance costs (54 ) (56 ) Total debt 8,477 8,544 Current maturities (150 ) — Long-term debt $ 8,327 $ 8,544
Components of Financing Costs, Net	The following table presents the components of Apache’s financing costs, net: For the Quarter Ended March 31, 2017 2016 (In millions) Interest expense $ 116 $ 116 Amortization of deferred loan costs 2 1 Capitalized interest (14 ) (11 ) Loss on extinguishment of debt 1 — Interest income (5 ) (1 ) Financing costs, net $ 100 $ 105

Capital Stock (Tables)

Capital Stock (Tables)	3 Months Ended
Capital Stock (Tables)	Mar. 31, 2017
Equity [Abstract]
Reconciliation of the components of basic and diluted net loss per common share	A reconciliation of the components of basic and diluted net income (loss) per common share for the quarters ended March 31, 2017 and 2016 , is presented in the table below. For the Quarter Ended March 31, 2017 2016 Income Shares Per Share Loss Shares Per Share (In millions, except per share amounts) Basic: Income (loss) attributable to common stock $ 213 380 $ 0.56 $ (372 ) 378 $ (0.98 ) Effect of Dilutive Securities: Stock options and other $ — 3 $ — $ — — $ — Diluted: Income (loss) attributable to common stock $ 213 383 $ 0.56 $ (372 ) 378 $ (0.98 )

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2017
Segment Reporting [Abstract]
Financial Segment Information	Financial information for each area is presented below: United States Canada Egypt (1) North Sea Other International Total (In millions) For the Quarter Ended March 31, 2017 Oil and Gas Production Revenues $ 552 $ 102 $ 591 $ 267 $ — $ 1,512 Operating Income (Loss) (2) $ 60 $ (13 ) $ 301 $ 38 $ (21 ) $ 365 Other Income (Expense): Gain on divestitures, net 341 Other 25 General and administrative (103 ) Transaction, reorganization, and separation 10 Financing costs, net (100 ) Income Before Income Taxes $ 538 Total Assets $ 12,361 $ 1,556 $ 5,006 $ 3,634 $ 53 $ 22,610 For the Quarter Ended March 31, 2016 Oil and Gas Production Revenues $ 409 $ 83 $ 392 $ 203 $ — $ 1,087 Operating Income (Loss) (2) $ (159 ) $ (62 ) $ 42 $ 14 $ — $ (165 ) Other Income (Expense): Loss on divestitures, net (1 ) Other (3 ) General and administrative (93 ) Transaction, reorganization, and separation (15 ) Financing costs, net (105 ) Loss Before Income Taxes $ (382 ) Total Assets $ 12,726 $ 2,118 $ 5,527 $ 4,314 $ 49 $ 24,734 (1) Includes a noncontrolling interest in Egypt. (2) Operating income (loss) consists of oil and gas production revenues less lease operating expenses, gathering and transportation costs, taxes other than income, exploration costs, depreciation, depletion, and amortization, asset retirement obligation accretion, and impairments. The operating income (loss) of U.S. and North Sea includes asset impairments totaling $15 million and $8 million , respectively, for the first quarter of 2017 . The operating income (loss) of U.S. and Canada includes asset impairments totaling $40 million and $2 million , respectively, for the first quarter of 2016 .

Supplemental Guarantor Inform28

Supplemental Guarantor Information (Tables)	3 Months Ended
Supplemental Guarantor Information (Tables)	Mar. 31, 2017
Guarantees [Abstract]
Supplemental Condensed Consolidating Statement of Operations	Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) REVENUES AND OTHER: Oil and gas production revenues $ 284 $ — $ 1,228 $ — $ 1,512 Equity in net income (loss) of affiliates 222 (1 ) — (221 ) — Other 8 8 9 — 25 Gain on divestitures 141 — 200 — 341 655 7 1,437 (221 ) 1,878 OPERATING EXPENSES: Lease operating expenses 81 — 255 — 336 Gathering and transportation 7 — 50 — 57 Taxes other than income 23 — 19 — 42 Exploration 28 — 64 — 92 General and administrative 90 — 13 — 103 Transaction, reorganization, and separation (10 ) — — — (10 ) Depreciation, depletion, and amortization 135 — 441 — 576 Asset retirement obligation accretion 6 — 30 — 36 Impairments — — 8 — 8 Financing costs, net 60 6 34 — 100 420 6 914 — 1,340 NET INCOME (LOSS) BEFORE INCOME TAXES 235 1 523 (221 ) 538 Provision for income taxes 22 2 247 — 271 NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST 213 (1 ) 276 (221 ) 267 Net income attributable to noncontrolling interest — — 54 — 54 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ 213 $ (1 ) $ 222 $ (221 ) $ 213 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) REVENUES AND OTHER: Oil and gas production revenues $ 217 $ — $ 870 $ — $ 1,087 Equity in net income (loss) of affiliates (108 ) (26 ) — 134 — Other 28 12 (43 ) — (3 ) Loss on divestitures (1 ) — — — (1 ) 136 (14 ) 827 134 1,083 OPERATING EXPENSES: Lease operating expenses 78 — 300 — 378 Gathering and transportation 8 — 44 — 52 Taxes other than income 21 — (10 ) — 11 Exploration 50 — 45 — 95 General and administrative 77 — 16 — 93 Transaction, reorganization, and separation 15 — — — 15 Depreciation, depletion, and amortization 156 — 522 — 678 Asset retirement obligation accretion 4 — 34 — 38 Impairments — — — — — Financing costs, net 61 10 34 — 105 470 10 985 — 1,465 NET INCOME (LOSS) BEFORE INCOME TAXES (334 ) (24 ) (158 ) 134 (382 ) Provision (benefit) for income taxes 37 2 (50 ) — (11 ) NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST (371 ) (26 ) (108 ) 134 (371 ) Net income attributable to noncontrolling interest — — 1 — 1 NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ (371 ) $ (26 ) $ (109 ) $ 134 $ (372 )
Supplemental Condensed Consolidating Statement of Cash Flows	APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2017 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (24 ) $ (2 ) $ 481 $ — $ 455 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to oil and gas property (171 ) — (151 ) — (322 ) Leasehold and property acquisitions (45 ) — (4 ) — (49 ) Additions to gas gathering, transmission, and processing facilities — — (142 ) — (142 ) Proceeds from sale of oil and gas properties — — 426 — 426 Investment in subsidiaries, net 323 — — (323 ) — Other (9 ) — 3 — (6 ) NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 98 — 132 (323 ) (93 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany borrowings — 2 (325 ) 323 — Payment of fixed-rate debt (70 ) — — — (70 ) Distributions to noncontrolling interest — — (57 ) — (57 ) Dividends paid (95 ) — — — (95 ) Other — — 4 — 4 NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (165 ) 2 (378 ) 323 (218 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (91 ) — 235 — 144 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 344 — 1,033 — 1,377 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 253 $ — $ 1,268 $ — $ 1,521 APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended March 31, 2016 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) CASH PROVIDED BY OPERATING ACTIVITIES $ 44 $ 11 $ 184 $ — $ 239 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to oil and gas property (81 ) — (465 ) — (546 ) Leasehold and property acquisitions (19 ) — — — (19 ) Additions to gas gathering, transmission, and processing facilities 1 — (1 ) — — Investment in subsidiaries, net (6 ) — — 6 — Other (34 ) — 44 — 10 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (139 ) — (422 ) 6 (555 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany borrowings — (7 ) 13 (6 ) — Distributions to noncontrolling interest — — (54 ) — (54 ) Dividends paid (95 ) — — — (95 ) Other 1 (4 ) 5 — 2 NET CASH USED IN FINANCING ACTIVITIES (94 ) (11 ) (36 ) (6 ) (147 ) NET DECREASE IN CASH AND CASH EQUIVALENTS (189 ) — (274 ) — (463 ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 378 — 1,089 — 1,467 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 189 $ — $ 815 $ — $ 1,004
Supplemental Condensed Consolidating Balance Sheet	APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2017 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 253 $ — $ 1,268 $ — $ 1,521 Receivables, net of allowance 321 — 850 — 1,171 Inventories 25 — 429 — 454 Drilling advances 4 — 89 — 93 Prepaid assets and other 140 — 47 — 187 Intercompany receivable 5,199 — — (5,199 ) — 5,942 — 2,683 (5,199 ) 3,426 PROPERTY AND EQUIPMENT, NET 7,108 — 11,672 — 18,780 OTHER ASSETS: Intercompany receivable — — 12,531 (12,531 ) — Equity in affiliates 15,739 (1,234 ) 699 (15,204 ) — Deferred charges and other 101 1,000 303 (1,000 ) 404 $ 28,890 $ (234 ) $ 27,888 $ (33,934 ) $ 22,610 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 364 $ (10 ) $ 210 $ — $ 564 Other current liabilities 593 8 733 — 1,334 Intercompany payable — — 5,199 (5,199 ) — 957 (2 ) 6,142 (5,199 ) 1,898 LONG-TERM DEBT 8,030 297 — — 8,327 DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES: Intercompany payable 12,531 — — (12,531 ) — Income taxes (252 ) 5 2,036 — 1,789 Asset retirement obligation 344 — 2,116 — 2,460 Other 895 1 417 (1,000 ) 313 13,518 6 4,569 (13,531 ) 4,562 COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY 6,385 (535 ) 15,739 (15,204 ) 6,385 Noncontrolling interest — — 1,438 — 1,438 TOTAL EQUITY 6,385 (535 ) 17,177 (15,204 ) 7,823 $ 28,890 $ (234 ) $ 27,888 $ (33,934 ) $ 22,610 APACHE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 Apache Corporation Apache Finance Canada All Other Subsidiaries of Apache Corporation Reclassifications & Eliminations Consolidated (In millions) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 344 $ — $ 1,033 $ — $ 1,377 Receivables, net of allowance 358 — 770 — 1,128 Inventories 29 — 447 — 476 Drilling advances 4 — 77 — 81 Prepaid assets and other 134 — 45 — 179 Intercompany receivable 5,038 — — (5,038 ) — 5,907 — 2,372 (5,038 ) 3,241 PROPERTY AND EQUIPMENT, NET 7,014 — 11,853 — 18,867 OTHER ASSETS: Intercompany receivable — — 12,152 (12,152 ) — Equity in affiliates 15,517 (1,240 ) 706 (14,983 ) — Deferred charges and other 97 1,000 314 (1,000 ) 411 $ 28,535 $ (240 ) $ 27,397 $ (33,173 ) $ 22,519 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 371 $ (12 ) $ 226 $ — $ 585 Other current liabilities 653 3 602 — 1,258 Intercompany payable — — 5,038 (5,038 ) — 1,024 (9 ) 5,866 (5,038 ) 1,843 LONG-TERM DEBT 8,247 297 — — 8,544 DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES: Intercompany payable 12,152 — — (12,152 ) — Income taxes (271 ) 5 1,976 — 1,710 Asset retirement obligation 257 — 2,175 — 2,432 Other 888 1 422 (1,000 ) 311 13,026 6 4,573 (13,152 ) 4,453 COMMITMENTS AND CONTINGENCIES APACHE SHAREHOLDERS’ EQUITY 6,238 (534 ) 15,517 (14,983 ) 6,238 Noncontrolling interest — — 1,441 — 1,441 TOTAL EQUITY 6,238 (534 ) 16,958 (14,983 ) 7,679 $ 28,535 $ (240 ) $ 27,397 $ (33,173 ) $ 22,519

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Detail) - USD ($) $ in Millions	Jan. 01, 2016	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Schedule Of Significant Accounting Policies [Line Items]
Asset impairment charges and unproved oil and gas leasehold impairments			$ 8
U.K. Petroleum Revenue Tax rate	0.00%	35.00%
Oil and Gas Properties, Proved [Member]
Schedule Of Significant Accounting Policies [Line Items]
Asset impairments			0	$ 0
Oil and Gas Properties, Unproved [Member]
Schedule Of Significant Accounting Policies [Line Items]
Asset impairments			$ 15	$ 42
Accumulated Deficit [Member] \| Accounting Standards Update 2016-09 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Cumulative effect of new accounting principle					$ 11
Deferred tax assets					$ 4

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Proceeds from sale of non-core assets	$ 466
Refundable deposits for sale of non-core assets			$ 40
Refundable deposits	134		$ 174
Gain on sale of non-core assets	$ 341	$ (1)
Equity ownership percentage	100.00%
Leasehold and property acquisitions	$ 49	$ 19
Scottish Area Gas Evacuation System [Member]
Business Acquisition [Line Items]
Equity ownership percentage			30.28%
Beryl Pipeline [Member]
Business Acquisition [Line Items]
Equity ownership percentage			60.56%

Derivative Instruments and He31

Derivative Instruments and Hedging Activities (Details) MBbls in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Boe$ / BoeMBbls
Crude Oil [Member] \| Commodity Option [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, nonmonetary notional amount, energy measure \| Boe	175,000
Derivative, weighted average strike price	50.47
Derivative, cost of hedge \| $	$ 100
Derivative, cost of hedge, per unit	3.09
Crude Oil [Member] \| CME SWAPS MARKETS (NYMEX) [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, nonmonetary notional amount, volume \| MBbls	16,928
Derivative, weighted average strike price	50
Crude Oil [Member] \| Date Brent [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, nonmonetary notional amount, volume \| MBbls	15,272
Derivative, weighted average strike price	51
Prepaid Expenses and Other [Member] \| Fair Value, Inputs, Level 2 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value of derivative asset \| $	$ 100

Capitalized Exploratory Well 32

Capitalized Exploratory Well Costs (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Extractive Industries [Abstract]
Capitalized exploratory well costs	$ 261,000,000	$ 264,000,000
Capitalized exploratory well costs that have been capitalized for period greater than one year		$ 0

Other Current Liabilities - Det

Other Current Liabilities - Details of Other Current Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued operating expenses	$ 106	$ 110
Accrued exploration and development	590	463
Accrued compensation and benefits	56	201
Accrued interest	107	145
Accrued income taxes	50	22
Current debt	150	0
Current asset retirement obligation	56	66
Refundable deposits	134	174
Other	85	77
Total other current liabilities	$ 1,334	$ 1,258

Asset Retirement Obligation - A

Asset Retirement Obligation - Asset Retirement Obligation (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligation at the beginning of period	$ 2,498
Liabilities divested	(5)
Liabilities settled	(13)
Accretion expense	36
Asset retirement obligation at the end of period	2,516
Less current portion	56	$ 66
Asset retirement obligation, long-term	$ 2,460	$ 2,432

Debt and Financing Costs - Summ

Debt and Financing Costs - Summary of Carrying Amounts and Estimated Fair Values (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 9,010	$ 9,183
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	8,477	8,544
Notes and Debentures [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	9,010	9,183
Notes and Debentures [Member] \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	8,477	8,544
Commercial Paper [Member] \| Commercial Paper and Committed Bank Facilities [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Commercial Paper [Member] \| Commercial Paper and Committed Bank Facilities [Member] \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 0	$ 0

Debt and Financing Costs - Sche

Debt and Financing Costs - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 8,327	$ 8,544
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt before unamortized discount and debt issuance costs	8,580	8,650
Unamortized discount	(49)	(50)
Debt issuance costs	(54)	(56)
Total debt	8,477	8,544
Current maturities	(150)	0
Long-term debt	$ 8,327	$ 8,544

Debt and Financing Costs - Addi

Debt and Financing Costs - Additional Information (Detail)	1 Months Ended		3 Months Ended
Debt and Financing Costs - Additional Information (Detail)	Jan. 31, 2017USD ($)	Jun. 30, 2015	Mar. 31, 2017USD ($)Contract	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017GBP (£)	Nov. 30, 2016USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding, amount \| £						£ 147,500,000
Loss on extinguishment of debt			$ 1,000,000		$ 0
Commercial Paper [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 3,500,000,000
Debt instrument term			270 days
Letter of Credit [Member]
Debt Instrument [Line Items]
Debt Instrument, Number \| Contract			3
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 3,500,000,000
Credit Facility Matures in June 2020 [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit amount			$ 750,000,000
Credit Facility Matures in June 2020 [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, number of extension Options \| Contract			2
Extended financing agreement term		1 year
Credit Facility Matures in February 2020 [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, face amount \| £						900,000,000
Extended financing agreement term			1 year
Credit facility maximum borrowing capacity \| £						£ 1,075,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 8,580,000,000	$ 8,650,000,000
Unsecured Debt [Member] \| 7% senior notes due February 1, 2018 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 150,000,000
Debt instrument, stated interest rate			7.00%			7.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchased Face Amount	$ 69,000,000			181,000,000
Senior notes purchased and canceled	71,000,000			182,000,000
Debt instrument, premium amount	$ 1,000,000			$ 500,000
Maximum [Member] \| Credit Facility Matures in June 2020 [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility aggregate commitment amount			$ 4,500,000,000
Maximum [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchased Face Amount							$ 250,000,000

Debt and Financing Costs - Comp

Debt and Financing Costs - Components of Financing Costs, Net (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Debt Disclosure [Abstract]
Interest expense	$ 116	$ 116
Amortization of deferred loan costs	2	1
Capitalized interest	(14)	(11)
Loss on extinguishment of debt	1	0
Interest income	(5)	(1)
Financing costs, net	$ 100	$ 105

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jun. 06, 2016	Mar. 21, 2016	Mar. 20, 2016	Mar. 31, 2017
Commitment And Contingencies [Line Items]
Accrued liability for legal contingencies				$ 16,000,000
Undiscounted reserve for environmental remediation				$ 51,000,000
Apollo Exploration Lawsuit [Member]
Commitment And Contingencies [Line Items]
Plaintiffs alleged damages		$ 500,000,000
Minimum [Member] \| Apollo Exploration Lawsuit [Member]
Commitment And Contingencies [Line Items]
Plaintiffs alleged damages			$ 1,100,000,000
Australian Operations [Member] \| Australian Operations Divestiture Dispute [Member]
Commitment And Contingencies [Line Items]
Placeholder notice of claim period	1 year
Divestiture of business, tax and other issues contingency amount	$ 200,000,000

Capital Stock - Net Income (los

Capital Stock - Net Income (loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic:
Income (loss) attributable to common stock	$ 213	$ (372)
Income (loss) attributable to common stock, shares	380	378
Basic net income (loss) per share (in USD per share)	$ 0.56	$ (0.98)
Effect of Dilutive Securities:
Stock options and other	3
Diluted:
Income (loss) attributable to common stock	$ 213	$ (372)
Income (loss) attributable to common stock, shares	383	378
Diluted net income (loss) per share (in USD per share)	$ 0.56	$ (0.98)

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		46 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017
Equity [Abstract]
Options and restricted stock, anti-dilutive	8,400,000	7,100,000
Dividends, common stock	$ 95	$ 95
Common stock share purchase, shares	40,000,000		40,000,000
Common stock share repurchase, shares			32,200,000
Common stock share repurchase, per share			$ 88.96

Business Segment Information -

Business Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting [Abstract]
Number of reporting segments	4

Business Segment Information 43

Business Segment Information - Financial Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	$ 1,512	$ 1,087
Operating Income (Loss)	365	(165)
Gain (loss) on divestitures	341	(1)
Other Income (Expense):
Other	25	(3)
General and administrative	(103)	(93)
Transaction, reorganization, and separation	10	(15)
Financing costs, net	(100)	(105)
NET INCOME (LOSS) BEFORE INCOME TAXES	538	(382)
Total Assets	22,610	24,734	$ 22,519
Operating Segments [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	552	409
Operating Income (Loss)	60	(159)
Other Income (Expense):
Total Assets	12,361	12,726
Asset impairments	15	40
Operating Segments [Member] \| Canada [Member]
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	102	83
Operating Income (Loss)	(13)	(62)
Other Income (Expense):
Total Assets	1,556	2,118
Asset impairments	8	2
Operating Segments [Member] \| Egypt [Member]
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	591	392
Operating Income (Loss)	301	42
Other Income (Expense):
Total Assets	5,006	5,527
Operating Segments [Member] \| North Sea [Member]
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	267	203
Operating Income (Loss)	38	14
Other Income (Expense):
Total Assets	3,634	4,314
Other International [Member]
Segment Reporting Information [Line Items]
Oil and Gas Production Revenues	0	0
Operating Income (Loss)	(21)	0
Other Income (Expense):
Total Assets	$ 53	$ 49

Supplemental Guarantor Inform44

Supplemental Guarantor Information - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 1999
Condensed Financial Statements, Captions [Line Items]
Equity ownership percentage	100.00%
Notes Due 2029 [Member]
Condensed Financial Statements, Captions [Line Items]
Publicly traded notes		$ 300

Supplemental Guarantor Inform45

Supplemental Guarantor Information - Supplemental Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUES AND OTHER:
Oil and Gas Production Revenues	$ 1,512	$ 1,087
Equity in net income (loss) of affiliates	0	0
Other	25	(3)
Gain (loss) on divestitures	341	(1)
Total revenues and other	1,878	1,083
OPERATING EXPENSES:
Lease operating expenses	336	378
Gathering and transportation	57	52
Taxes other than income	42	11
Exploration	92	95
General and administrative	103	93
Transaction, reorganization, and separation	(10)	15
Depreciation, depletion, and amortization	576	678
Asset retirement obligation accretion	36	38
Impairments	8	0
Financing costs, net	100	105
Total operating expenses	1,340	1,465
NET INCOME (LOSS) BEFORE INCOME TAXES	538	(382)
Provision (benefit) for income taxes	271	(11)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	267	(371)
Net income attributable to noncontrolling interest	54	1
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	213	(372)
Reclassifications & Eliminations [Member]
REVENUES AND OTHER:
Oil and Gas Production Revenues	0	0
Equity in net income (loss) of affiliates	(221)	134
Other	0	0
Gain (loss) on divestitures	0	0
Total revenues and other	(221)	134
OPERATING EXPENSES:
Lease operating expenses	0	0
Gathering and transportation	0	0
Taxes other than income	0	0
Exploration	0	0
General and administrative	0	0
Transaction, reorganization, and separation	0	0
Depreciation, depletion, and amortization	0	0
Asset retirement obligation accretion	0	0
Impairments	0	0
Financing costs, net	0	0
Total operating expenses	0	0
NET INCOME (LOSS) BEFORE INCOME TAXES	(221)	134
Provision (benefit) for income taxes	0	0
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	(221)	134
Net income attributable to noncontrolling interest	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	(221)	134
Apache Corporation [Member]
REVENUES AND OTHER:
Oil and Gas Production Revenues	284	217
Equity in net income (loss) of affiliates	222	(108)
Other	8	28
Gain (loss) on divestitures	141	(1)
Total revenues and other	655	136
OPERATING EXPENSES:
Lease operating expenses	81	78
Gathering and transportation	7	8
Taxes other than income	23	21
Exploration	28	50
General and administrative	90	77
Transaction, reorganization, and separation	(10)	15
Depreciation, depletion, and amortization	135	156
Asset retirement obligation accretion	6	4
Impairments	0	0
Financing costs, net	60	61
Total operating expenses	420	470
NET INCOME (LOSS) BEFORE INCOME TAXES	235	(334)
Provision (benefit) for income taxes	22	37
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	213	(371)
Net income attributable to noncontrolling interest	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	213	(371)
Apache Finance Canada [Member]
REVENUES AND OTHER:
Oil and Gas Production Revenues	0	0
Equity in net income (loss) of affiliates	(1)	(26)
Other	8	12
Gain (loss) on divestitures	0	0
Total revenues and other	7	(14)
OPERATING EXPENSES:
Lease operating expenses	0	0
Gathering and transportation	0	0
Taxes other than income	0	0
Exploration	0	0
General and administrative	0	0
Transaction, reorganization, and separation	0	0
Depreciation, depletion, and amortization	0	0
Asset retirement obligation accretion	0	0
Impairments	0	0
Financing costs, net	6	10
Total operating expenses	6	10
NET INCOME (LOSS) BEFORE INCOME TAXES	1	(24)
Provision (benefit) for income taxes	2	2
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	(1)	(26)
Net income attributable to noncontrolling interest	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	(1)	(26)
All Other Subsidiaries of Apache Corporation [Member]
REVENUES AND OTHER:
Oil and Gas Production Revenues	1,228	870
Equity in net income (loss) of affiliates	0	0
Other	9	(43)
Gain (loss) on divestitures	200	0
Total revenues and other	1,437	827
OPERATING EXPENSES:
Lease operating expenses	255	300
Gathering and transportation	50	44
Taxes other than income	19	(10)
Exploration	64	45
General and administrative	13	16
Transaction, reorganization, and separation	0	0
Depreciation, depletion, and amortization	441	522
Asset retirement obligation accretion	30	34
Impairments	8	0
Financing costs, net	34	34
Total operating expenses	914	985
NET INCOME (LOSS) BEFORE INCOME TAXES	523	(158)
Provision (benefit) for income taxes	247	(50)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST	276	(108)
Net income attributable to noncontrolling interest	54	1
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK	$ 222	$ (109)

Supplemental Guarantor Inform46

Supplemental Guarantor Information - Supplemental Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$ 455	$ 239
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(322)	(546)
Leasehold and property acquisitions	(49)	(19)
Additions to gas gathering, transmission, and processing facilities	(142)	0
Proceeds from sale of other oil and gas properties	426	0
Investment in subsidiaries, net	0	0
Other	(6)	10
NET CASH USED IN INVESTING ACTIVITIES	(93)	(555)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	0	0
Payments on fixed-rate debt	(70)	0
Distributions to noncontrolling interest	(57)	(54)
Dividends paid	(95)	(95)
Other	4	2
NET CASH USED IN FINANCING ACTIVITIES	(218)	(147)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	144	(463)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,377	1,467
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,521	1,004
Reclassifications & Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	0	0
Leasehold and property acquisitions	0	0
Additions to gas gathering, transmission, and processing facilities	0	0
Proceeds from sale of other oil and gas properties	0
Investment in subsidiaries, net	(323)	6
Other	0	0
NET CASH USED IN INVESTING ACTIVITIES	(323)	6
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	323	(6)
Payments on fixed-rate debt	0
Distributions to noncontrolling interest	0	0
Dividends paid	0	0
Other	0	0
NET CASH USED IN FINANCING ACTIVITIES	323	(6)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	0	0
Apache Corporation [Member]
Condensed Financial Statements, Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(24)	44
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(171)	(81)
Leasehold and property acquisitions	(45)	(19)
Additions to gas gathering, transmission, and processing facilities	0	1
Proceeds from sale of other oil and gas properties	0
Investment in subsidiaries, net	323	(6)
Other	(9)	(34)
NET CASH USED IN INVESTING ACTIVITIES	98	(139)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	0	0
Payments on fixed-rate debt	(70)
Distributions to noncontrolling interest	0	0
Dividends paid	(95)	(95)
Other	0	1
NET CASH USED IN FINANCING ACTIVITIES	(165)	(94)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(91)	(189)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	344	378
CASH AND CASH EQUIVALENTS AT END OF PERIOD	253	189
Apache Finance Canada [Member]
Condensed Financial Statements, Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(2)	11
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	0	0
Leasehold and property acquisitions	0	0
Additions to gas gathering, transmission, and processing facilities	0	0
Proceeds from sale of other oil and gas properties	0
Investment in subsidiaries, net	0	0
Other	0	0
NET CASH USED IN INVESTING ACTIVITIES	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	2	(7)
Payments on fixed-rate debt	0
Distributions to noncontrolling interest	0	0
Dividends paid	0	0
Other	0	(4)
NET CASH USED IN FINANCING ACTIVITIES	2	(11)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	0	0
All Other Subsidiaries of Apache Corporation [Member]
Condensed Financial Statements, Captions [Line Items]
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	481	184
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and gas property	(151)	(465)
Leasehold and property acquisitions	(4)	0
Additions to gas gathering, transmission, and processing facilities	(142)	(1)
Proceeds from sale of other oil and gas properties	426
Investment in subsidiaries, net	0	0
Other	3	44
NET CASH USED IN INVESTING ACTIVITIES	132	(422)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany borrowings	(325)	13
Payments on fixed-rate debt	0
Distributions to noncontrolling interest	(57)	(54)
Dividends paid	0	0
Other	4	5
NET CASH USED IN FINANCING ACTIVITIES	(378)	(36)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	235	(274)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,033	1,089
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 1,268	$ 815

Supplemental Guarantor Inform47

Supplemental Guarantor Information - Supplemental Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 1,521	$ 1,377	$ 1,004	$ 1,467
Receivables, net of allowance	1,171	1,128
Inventories	454	476
Drilling advances	93	81
Prepaid assets and other	187	179
Intercompany receivable	0	0
Total current assets	3,426	3,241
PROPERTY AND EQUIPMENT, NET	18,780	18,867
OTHER ASSETS:
Intercompany receivable	0	0
Equity in affiliates	0	0
Deferred charges and other	404	411
Total assets	22,610	22,519	24,734
CURRENT LIABILITIES:
Accounts payable	564	585
Other current liabilities	1,334	1,258
Intercompany payable	0	0
Total current liabilities	1,898	1,843
LONG-TERM DEBT	8,327	8,544
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	0	0
Income taxes	1,789	1,710
Asset retirement obligation	2,460	2,432
Other	313	311
Total deferred credits and other noncurrent liabilities	4,562	4,453
COMMITMENTS AND CONTINGENCIES (Note 9)
APACHE SHAREHOLDERS’ EQUITY	6,385	6,238
Noncontrolling interest	1,438	1,441
TOTAL EQUITY	7,823	7,679	9,000	9,490
TOTAL LIABILITIES AND EQUITY	22,610	22,519
Reclassifications & Eliminations [Member]
CURRENT ASSETS:
Cash and cash equivalents	0	0	0	0
Receivables, net of allowance	0	0
Inventories	0	0
Drilling advances	0	0
Prepaid assets and other	0	0
Intercompany receivable	(5,199)	(5,038)
Total current assets	(5,199)	(5,038)
PROPERTY AND EQUIPMENT, NET	0	0
OTHER ASSETS:
Intercompany receivable	(12,531)	(12,152)
Equity in affiliates	(15,204)	(14,983)
Deferred charges and other	(1,000)	(1,000)
Total assets	(33,934)	(33,173)
CURRENT LIABILITIES:
Accounts payable	0	0
Other current liabilities	0	0
Intercompany payable	(5,199)	(5,038)
Total current liabilities	(5,199)	(5,038)
LONG-TERM DEBT	0	0
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	(12,531)	(12,152)
Income taxes	0	0
Asset retirement obligation	0	0
Other	(1,000)	(1,000)
Total deferred credits and other noncurrent liabilities	(13,531)	(13,152)
COMMITMENTS AND CONTINGENCIES (Note 9)
APACHE SHAREHOLDERS’ EQUITY	(15,204)	(14,983)
Noncontrolling interest	0	0
TOTAL EQUITY	(15,204)	(14,983)
TOTAL LIABILITIES AND EQUITY	(33,934)	(33,173)
Apache Corporation [Member]
CURRENT ASSETS:
Cash and cash equivalents	253	344	189	378
Receivables, net of allowance	321	358
Inventories	25	29
Drilling advances	4	4
Prepaid assets and other	140	134
Intercompany receivable	5,199	5,038
Total current assets	5,942	5,907
PROPERTY AND EQUIPMENT, NET	7,108	7,014
OTHER ASSETS:
Intercompany receivable	0	0
Equity in affiliates	15,739	15,517
Deferred charges and other	101	97
Total assets	28,890	28,535
CURRENT LIABILITIES:
Accounts payable	364	371
Other current liabilities	593	653
Intercompany payable	0	0
Total current liabilities	957	1,024
LONG-TERM DEBT	8,030	8,247
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	12,531	12,152
Income taxes	(252)	(271)
Asset retirement obligation	344	257
Other	895	888
Total deferred credits and other noncurrent liabilities	13,518	13,026
COMMITMENTS AND CONTINGENCIES (Note 9)
APACHE SHAREHOLDERS’ EQUITY	6,385	6,238
Noncontrolling interest	0	0
TOTAL EQUITY	6,385	6,238
TOTAL LIABILITIES AND EQUITY	28,890	28,535
Apache Finance Canada [Member]
CURRENT ASSETS:
Cash and cash equivalents	0	0	0	0
Receivables, net of allowance	0	0
Inventories	0	0
Drilling advances	0	0
Prepaid assets and other	0	0
Intercompany receivable	0	0
Total current assets	0	0
PROPERTY AND EQUIPMENT, NET	0	0
OTHER ASSETS:
Intercompany receivable	0	0
Equity in affiliates	(1,234)	(1,240)
Deferred charges and other	1,000	1,000
Total assets	(234)	(240)
CURRENT LIABILITIES:
Accounts payable	(10)	(12)
Other current liabilities	8	3
Intercompany payable	0	0
Total current liabilities	(2)	(9)
LONG-TERM DEBT	297	297
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	0	0
Income taxes	5	5
Asset retirement obligation	0	0
Other	1	1
Total deferred credits and other noncurrent liabilities	6	6
COMMITMENTS AND CONTINGENCIES (Note 9)
APACHE SHAREHOLDERS’ EQUITY	(535)	(534)
Noncontrolling interest	0	0
TOTAL EQUITY	(535)	(534)
TOTAL LIABILITIES AND EQUITY	(234)	(240)
All Other Subsidiaries of Apache Corporation [Member]
CURRENT ASSETS:
Cash and cash equivalents	1,268	1,033	$ 815	$ 1,089
Receivables, net of allowance	850	770
Inventories	429	447
Drilling advances	89	77
Prepaid assets and other	47	45
Intercompany receivable	0	0
Total current assets	2,683	2,372
PROPERTY AND EQUIPMENT, NET	11,672	11,853
OTHER ASSETS:
Intercompany receivable	12,531	12,152
Equity in affiliates	699	706
Deferred charges and other	303	314
Total assets	27,888	27,397
CURRENT LIABILITIES:
Accounts payable	210	226
Other current liabilities	733	602
Intercompany payable	5,199	5,038
Total current liabilities	6,142	5,866
LONG-TERM DEBT	0	0
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Intercompany payable	0	0
Income taxes	2,036	1,976
Asset retirement obligation	2,116	2,175
Other	417	422
Total deferred credits and other noncurrent liabilities	4,569	4,573
COMMITMENTS AND CONTINGENCIES (Note 9)
APACHE SHAREHOLDERS’ EQUITY	15,739	15,517
Noncontrolling interest	1,438	1,441
TOTAL EQUITY	17,177	16,958
TOTAL LIABILITIES AND EQUITY	$ 27,888	$ 27,397