Apache 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-4300
Entity Registrant Name	APACHE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0747868
Entity Address, Address Line One	One Post Oak Central, 2000 Post Oak Boulevard, Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056-4400
City Area Code	713
Local Phone Number	296-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,000
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000006769
Current Fiscal Year End Date	--12-31

STATEMENT OF CONSOLIDATED OPERA

STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUES AND OTHER:
Derivative instrument losses, net		$ 0	$ (44)	$ 0	$ (138)
Gain on divestitures, net		1	31	7	1,180
Other, net		7	(10)	84	99
Total revenues and other		2,220	2,770	5,992	9,650
OPERATING EXPENSES:
Lease operating expenses		381	363	1,047	1,066
Taxes other than income		56	74	153	222
Exploration		39	46	120	86
General and administrative		132	64	256	298
Transaction, reorganization, and separation		5	4	11	21
Depreciation, depletion, and amortization		377	288	1,024	857
Asset retirement obligation accretion		29	29	86	87
Impairments		0	0	46	0
Financing costs, net		40	55	131	257
Total operating expenses		1,353	1,590	3,663	4,615
NET INCOME BEFORE INCOME TAXES		867	1,180	2,329	5,035
Current income tax provision		422	357	1,022	1,164
Deferred income tax provision (benefit)		(134)	293	(29)	231
NET INCOME INCLUDING NONCONTROLLING INTERESTS		579	530	1,336	3,640
Net loss attributable to Altus Preferred Unit limited partners		0	0	0	(70)
NET INCOME ATTRIBUTABLE TO APACHE CORPORATION		387	357	814	3,107
Noncontrolling interest – Sinopec
OPERATING EXPENSES:
Net income attributable to noncontrolling interest		96	108	261	368
Noncontrolling interest - Altus
OPERATING EXPENSES:
Net income attributable to noncontrolling interest		0	0	0	14
Noncontrolling interest – APA Corporation
OPERATING EXPENSES:
Net income attributable to noncontrolling interest		96	65	261	221
Oil and gas
REVENUES AND OTHER:
Total revenues		2,212	2,793	5,901	8,509
Gathering, processing, and transmission costs
REVENUES AND OTHER:
Oil, natural gas, and natural gas liquids production revenues	[1]	1,983	2,208	5,289	7,053
OPERATING EXPENSES:
Gathering, processing, and transmission/Purchased oil and gas costs	[1]	83	94	231	269
Purchased oil and gas sales
REVENUES AND OTHER:
Purchased oil and gas sales	[1]	229	585	612	1,456
OPERATING EXPENSES:
Gathering, processing, and transmission/Purchased oil and gas costs	[1]	$ 211	$ 573	$ 558	$ 1,452
[1]For transactions associated with Kinetik, refer to Note 7—Equity Method Interests for further detail.

STATEMENT OF CONSOLIDATED COMPR

STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
NET INCOME INCLUDING NONCONTROLLING INTERESTS	$ 579	$ 530	$ 1,336	$ 3,640
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Pension and postretirement benefit plan	0	0	3	(1)
COMPREHENSIVE INCOME INCLUDING NONCONTROLLING INTERESTS	579	530	1,339	3,639
Comprehensive loss attributable to Altus Preferred Unit limited partners	0	0	0	(70)
COMPREHENSIVE INCOME ATTRIBUTABLE TO APACHE CORPORATION	387	357	817	3,106
Noncontrolling interest – Sinopec
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Comprehensive income attributable to noncontrolling interest	96	108	261	368
Noncontrolling interest - Altus
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Comprehensive income attributable to noncontrolling interest	0	0	0	14
Noncontrolling interest – APA Corporation
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Comprehensive income attributable to noncontrolling interest	$ 96	$ 65	$ 261	$ 221

STATEMENT OF CONSOLIDATED CASH

STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income including noncontrolling interests	$ 1,336	$ 3,640
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized derivative instrument losses, net	0	119
Gain on divestitures, net	(7)	(1,180)
Exploratory dry hole expense and unproved leasehold impairments	86	52
Depreciation, depletion, and amortization	1,024	857
Asset retirement obligation accretion	86	87
Impairments	46	0
Provision for (benefit from) deferred income taxes	(29)	231
(Gain) loss on extinguishment of debt	(9)	67
Other, net	(119)	(137)
Changes in operating assets and liabilities:
Receivables	(278)	(442)
Inventories	19	(81)
Drilling advances and other current assets	78	19
Deferred charges and other long-term assets	226	(3)
Accounts payable	(5)	171
Accounts receivable from/payable to APA Corporation	(46)	(417)
Accrued expenses	0	237
Deferred credits and noncurrent liabilities	(436)	(41)
NET CASH PROVIDED BY OPERATING ACTIVITIES	1,972	3,179
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to upstream oil and gas property	(1,480)	(1,003)
Leasehold and property acquisitions	(10)	(30)
Notes receivable from APA Corporation	(207)	0
Proceeds from sale of oil and gas properties	29	778
Proceeds from sale of Kinetik shares	0	224
Deconsolidation of Altus cash and cash equivalents	0	(143)
Other, net	(29)	36
NET CASH USED IN INVESTING ACTIVITIES	(1,697)	(138)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Apache credit facility, net	0	138
Payments on note payable to APA Corporation, net	0	(835)
Payments on fixed-rate debt	(65)	(1,370)
Distributions to noncontrolling interest – Sinopec	(154)	(237)
Distributions to APA Corporation	(154)	(819)
Other, net	5	(14)
NET CASH USED IN FINANCING ACTIVITIES	(368)	(3,137)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(93)	(96)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	185	279
CASH AND CASH EQUIVALENTS AT END OF PERIOD	92	183
SUPPLEMENTARY CASH FLOW DATA:
Interest paid, net of capitalized interest	250	277
Income taxes paid, net of refunds	867	1,029
Non-cash financing adjustment: APA’s assumption of Apache’s borrowings on its syndicated credit facility	$ 0	$ 680

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 92	$ 185
Other current assets (Note 6)	880	993
Total current assets	2,718	2,602
PROPERTY AND EQUIPMENT:
Oil and gas properties	42,537	41,245
Gathering, processing, and transmission facilities	447	449
Other	613	613
Less: Accumulated depreciation, depletion, and amortization	(35,319)	(34,350)
Property and equipment, net	8,278	7,957
OTHER ASSETS:
Equity method interests (Note 7)	681	624
Decommissioning security for sold Gulf of Mexico properties (Note 12)	38	217
Deferred charges and other	519	571
Assets	14,799	14,255
CURRENT LIABILITIES:
Accounts payable	640	646
Current debt	2	2
Other current liabilities (Note 8)	1,843	2,049
Total current liabilities	2,485	2,697
LONG-TERM DEBT (Note 10)	4,814	4,885
DEFERRED CREDITS AND OTHER NONCURRENT LIABILITIES:
Income taxes	299	314
Asset retirement obligation (Note 9)	2,000	1,936
Decommissioning contingency for sold Gulf of Mexico properties (Note 12)	470	738
Other	439	443
Total deferred credits and other noncurrent liabilities	3,208	3,431
EQUITY:
Common stock, $0.625 par, 1,000 and 1,000 shares authorized, respectively, 1,000 and 1,000 shares issued, respectively	0	0
Paid-in capital	8,044	8,025
Accumulated deficit	(4,967)	(5,781)
Accumulated other comprehensive income	17	14
EQUITY ATTRIBUTABLE TO APACHE CORPORATION	3,094	2,258
TOTAL EQUITY	4,292	3,242
Liabilities and Equity, Total	14,799	14,255
Nonrelated Party
CURRENT ASSETS:
Receivables, net of allowance of $103 and $117	1,700	1,424
Affiliated Entity
CURRENT ASSETS:
Receivables, net of allowance of $103 and $117	46	0
OTHER ASSETS:
Noncurrent receivable from APA Corporation (Note 2)	0	869
Notes receivable from APA Corporation (Note 2)	2,565	1,415
Noncontrolling interest – Sinopec
EQUITY:
Noncontrolling interest	1,029	922
Noncontrolling interest – APA Corporation
EQUITY:
Noncontrolling interest	$ 169	$ 62

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Receivables, net of allowance	$ 103	$ 117
Common stock, par value (in USD per share)	$ 0.625	$ 0.625
Common stock, shares authorized (in shares)	1,000	1,000
Common stock, shares issued (in shares)	1,000	1,000

STATEMENT OF CONSOLIDATED CHANG

STATEMENT OF CONSOLIDATED CHANGES IN EQUITY (DEFICIT) AND NONCONTROLLING INTERESTS (Unaudited) - USD ($) $ in Millions		Total	Redeemable Noncontrolling Interest - Altus Preferred Unit Limited Partners	Noncontrolling interest – APA Corporation	Noncontrolling interest – Sinopec	Noncontrolling interest - Altus	EQUITY (DEFICIT) ATTRIBUTABLE TO APACHE CORPORATION	Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Noncontrolling Interests		Noncontrolling Interests Noncontrolling interest – APA Corporation		Noncontrolling Interests Noncontrolling interest – Sinopec		Noncontrolling Interests Noncontrolling interest - Altus	[1]
Beginning balance at Dec. 31, 2021	[1]		$ 712
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to Altus Preferred Unit limited partners	[1]		(70)
Deconsolidation of Altus	[1]		(642)
Ending balance at Sep. 30, 2022	[1]		0
Beginning balance at Dec. 31, 2021		$ 260					$ (618)	$ 8,677	$ (9,317)	$ 22	$ 878	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Apache Corporation		3,107					3,107		3,107
Net income attributable to noncontrolling interest				$ 221	$ 368	$ 14							$ 221	[1]	$ 368	[1]	$ 14
Distributions to noncontrolling interest – Sinopec					(237)										(237)	[1]
Distributions to APA Corporation		(819)					(679)	(679)			(140)	[1]
Deconsolidation of Altus		(72)									(72)	[1]
Other		21					21	22		(1)
Ending balance at Sep. 30, 2022		2,863					1,831	8,020	(6,210)	21	1,032	[1]
Ending balance at Sep. 30, 2022	[1]		$ 0
Beginning balance at Jun. 30, 2022		2,490					1,508	8,054	(6,567)	21	982	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Apache Corporation		357					357		357
Net income attributable to noncontrolling interest				65	108	0							65	[2]	108	[2]
Distributions to noncontrolling interest – Sinopec					(78)										(78)	[2]
Distributions to APA Corporation		(86)					(41)	(41)			(45)	[2]
Other		7					7	7
Ending balance at Sep. 30, 2022		2,863					1,831	8,020	(6,210)	21	1,032	[1]
Beginning balance at Dec. 31, 2022		3,242					2,258	8,025	(5,781)	14	984	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Apache Corporation		814					814		814
Net income attributable to noncontrolling interest				261	261	0							261	[1]	261	[1]
Distributions to noncontrolling interest – Sinopec					(154)										(154)	[1]
Distributions to APA Corporation		(154)									(154)	[1]
Other		22					22	19		3
Ending balance at Sep. 30, 2023		4,292					3,094	8,044	(4,967)	17	1,198	[2]
Beginning balance at Jun. 30, 2023		3,814					2,700	8,037	(5,354)	17	1,114	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Apache Corporation		387					387		387
Net income attributable to noncontrolling interest				$ 96	96	$ 0							$ 96	[2]	96	[2]
Distributions to noncontrolling interest – Sinopec					$ (54)										$ (54)	[2]
Distributions to APA Corporation		(54)									(54)	[2]
Other		7					7	7
Ending balance at Sep. 30, 2023		$ 4,292					$ 3,094	$ 8,044	$ (4,967)	$ 17	$ 1,198	[2]
[1]As a result of the BCP Business Combination (as defined herein), the Company deconsolidated Altus (as defined herein) on February 22, 2022. Refer to Note 1—Summary of Significant Accounting Policies and Note 3—Acquisitions and Divestitures for further detail. Note 1—Summary of Significant Accounting Policies and Note 3—Acquisitions and Divestitures for further detail.

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	These consolidated financial statements have been prepared by Apache Corporation (Apache or the Company) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The Company files these consolidated financial statements with the SEC as a voluntary filer to comply with the terms of certain of the Company’s outstanding debt instruments. They reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods, on a basis consistent with the annual audited financial statements, with the exception of any recently adopted accounting pronouncements. All such adjustments are of a normal recurring nature. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10-Q should be read along with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which contains a summary of the Company’s significant accounting policies and other disclosures.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As of September 30, 2023, the Company's significant accounting policies are consistent with those discussed in Note 1—Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The Company’s financial statements for prior periods may include reclassifications that were made to conform to the current-year presentation. Principles of Consolidation The accompanying consolidated financial statements include the accounts of Apache and its subsidiaries after elimination of intercompany balances and transactions. The Company’s undivided interests in oil and gas exploration and production ventures and partnerships are proportionately consolidated. The Company consolidates all other investments in which, either through direct or indirect ownership, it has more than a 50 percent voting interest or controls the financial and operating decisions. Noncontrolling interests represent third-party ownership in the net assets of a consolidated subsidiary of Apache and are reflected separately in the Company’s financial statements. Apache has determined that one of its limited partnership subsidiaries, which has control over Apache’s Egyptian operations, qualified as a variable interest entity (VIE) under GAAP. Apache continues to consolidate this limited partnership subsidiary because the Company has concluded that it has a controlling financial interest in the Egyptian operations and was determined to be the primary beneficiary of the VIE. Sinopec International Petroleum Exploration and Production Corporation (Sinopec) owns a one-third minority participation in the Company’s consolidated Egypt oil and gas business as a noncontrolling interest. APA Corporation (APA) also owns a noncontrolling interest in Apache’s consolidated Egypt oil and gas business. Refer to Note 2—Transactions with Parent Affiliate for detail regarding APA’s noncontrolling interest. All noncontrolling interests are reflected as a separate component of equity in the Company’s consolidated balance sheet. Additionally, prior to the BCP Business Combination defined below, third-party investors owned a minority interest of approximately 21 percent of Altus Midstream Company (ALTM or Altus), which was reflected as a separate noncontrolling interest component of equity in the Company’s consolidated balance sheet. ALTM qualified as a VIE under GAAP, which Apache consolidated because a wholly owned subsidiary of Apache had a controlling financial interest and was determined to be the primary beneficiary. On February 22, 2022, ALTM closed a previously announced transaction to combine with privately owned BCP Raptor Holdco LP (BCP and, together with BCP Raptor Holdco GP, LLC, the Contributed Entities) in an all-stock transaction, pursuant to the Contribution Agreement entered into by and among ALTM, Altus Midstream LP, New BCP Raptor Holdco, LLC (the Contributor), and BCP (the BCP Contribution Agreement). Pursuant to the BCP Contribution Agreement, the Contributor contributed all of the equity interests of the Contributed Entities (the Contributed Interests) to Altus Midstream LP, with each Contributed Entity becoming a wholly owned subsidiary of Altus Midstream LP (the BCP Business Combination). Upon closing the transaction, the combined entity was renamed Kinetik Holdings Inc. (Kinetik), and the Company determined that it was no longer the primary beneficiary of Kinetik. The Company further determined that Kinetik no longer qualified as a VIE under GAAP. As a result, the Company deconsolidated ALTM on February 22, 2022. Refer to Note 3—Acquisitions and Divestitures for further detail. The stockholders agreement entered into by and among the Company, ALTM, BCP, and other related and affiliated entities provides that the Company, through one of its wholly owned subsidiaries, retains the ability to designate a director to the board of directors of Kinetik for so long as the Company and its affiliates beneficially own 10 percent or more of Kinetik’s outstanding common stock. Based on this board representation, combined with the Company’s stock ownership, management determined it has significant influence over Kinetik, which is considered a related party of the Company. Investments in which the Company has significant influence, but not control, are accounted for under the equity method of accounting. These investments are recorded separately as “Equity method interests” in the Company’s consolidated balance sheet. The Company elected the fair value option to account for its equity method interest in Kinetik. Refer to Note 7—Equity Method Interests for further detail. Use of Estimates Preparation of financial statements in conformity with GAAP and disclosure of contingent assets and liabilities 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. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. The Company evaluates its estimates and assumptions on a regular basis. Actual results may differ from these estimates and assumptions used in preparation of the Company’s financial statements, and changes in these estimates are recorded when known. Significant estimates with regard to these financial statements include the estimates of fair value for long-lived assets (refer to “Fair Value Measurements” and “Property and Equipment” sections in this Note 1 below), the fair value determination of acquired assets and liabilities (refer to Note 3—Acquisitions and Divestitures ), the fair value of equity method interests (refer to “Equity Method Interests” within this Note 1 below and Note 7—Equity Method Interests ), the assessment of asset retirement obligations (refer to Note 9—Asset Retirement Obligation ), the estimate of income taxes (refer to Note 11—Income Taxes ), the estimation of the contingent liability representing Apache’s potential decommissioning obligations on sold properties in the Gulf of Mexico (refer to Note 12—Commitments and Contingencies ), and the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom. Fair Value Measurements Certain assets and liabilities are reported at fair value on a recurring basis in the Company’s consolidated balance sheet. Accounting Standards Codification (ASC) 820-10-35, “Fair Value Measurement” (ASC 820), 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). Refer to Note 5—Derivative Instruments and Hedging Activities , Note 7—Equity Method Interests , and Note 10—Debt and Financing Costs for further detail regarding the Company’s fair value measurements recorded on a recurring basis. During the three and nine months ended September 30, 2023 and 2022, the Company recorded no asset impairments in connection with fair value assessments. Accounts Receivable from / Accounts Payable to APA Accounts receivable from or payable to APA represents the net result of Apache’s administrative and support services provided to APA and other miscellaneous cash management transactions to be settled between the two affiliated entities. Generally, cash in this amount will be transferred to Apache or paid to APA in subsequent periods, after current period transactions are processed and net results of operations are determined. However, from time to time, Apache may estimate and transfer the cash settlement amount in the month the transactions are processed in order to minimize affiliate working capital balances or retain affiliate balances for cash management purposes. Refer to Note 2—Transactions with Parent Affiliate for more detail. Revenue Recognition There have been no significant changes to the Company’s contracts with customers during the nine months ended September 30, 2023 and 2022. Receivables from contracts with customers, including receivables for purchased oil and gas sales, in each case, net of allowance for credit losses, were $1.5 billion and $1.3 billion as of September 30, 2023 and December 31, 2022, respectively. Payments under contracts with customers are typically due within a short-term period of 60 days after physical delivery of the product or service has been rendered. Over the past year, the Company experienced a gradual decline in the timeliness of receipts from the Egyptian General Petroleum Corporation (EGPC) for the Company’s Egyptian oil and gas sales. Although the Company continues to receive periodic payments from EGPC, deteriorating economic conditions in Egypt have lessened the availability of U.S. dollars in Egypt, resulting in a longer-than-usual delay in receipts from EGPC. Continuation of the currency shortage in Egypt could lead to further delays, deferrals of payment, or non-payment in the future; however, the Company currently anticipates that it will ultimately be able to collect its receivable from EGPC. Oil and gas production revenues include income taxes that will be paid to the Arab Republic of Egypt by EGPC on behalf of the Company. Revenue and associated expenses related to such tax volumes are recorded as “Oil, natural gas, and natural gas liquids production revenues” and “Current income tax provision,” respectively, in the Company’s statement of consolidated operations. Refer to Note 13—Business Segment Information for a disaggregation of oil, gas, and natural gas production revenue by product and reporting segment. In accordance with the provisions of ASC 606, “Revenue from Contracts with Customers,” variable market prices for each short-term commodity sale are allocated entirely to each performance obligation as the terms of payment relate specifically to the Company’s efforts to satisfy its obligations. As such, the Company has elected the practical expedients available under the standard to not disclose the aggregate transaction price allocated to unsatisfied, or partially unsatisfied, performance obligations as of the end of the reporting period. Inventories Inventories consist principally of tubular goods and equipment and are stated at the lower of weighted-average cost or net realizable value. Oil produced but not sold, primarily in the North Sea, is also recorded to inventory and is stated at the lower of the cost to produce or net realizable value. During the second quarter of 2023, the Company recorded $46 million of impairments in connection with valuations of drilling and operations equipment inventory upon the Company’s decision to suspend drilling operations in the North Sea. Property and Equipment The carrying value of the Company’s property and equipment represents the cost incurred to acquire the property and equipment, including capitalized interest, net of any impairments. For business combinations and acquisitions, property and equipment cost is based on the fair values at the acquisition date. 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 associated proved oil and gas properties. 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 used to calculate the depreciation for capitalized well 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 the carrying value of proved oil and gas properties may not be recoverable, 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 the Company’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 ASC 820. The expected future cash flows used for impairment reviews and related fair value calculations are typically based on judgmental assessments, a Level 3 fair value measurement. Unproved leasehold impairments are typically recorded as a component of “Exploration” expense in the Company’s statement of consolidated operations. Gains and losses on divestitures of the Company’s oil and gas properties are recognized in the statement of consolidated operations upon closing of the transaction. Refer to Note 3—Acquisitions and Divestitures for more detail. Gathering, Processing, and Transmission (GPT) Facilities GPT facilities are depreciated on a straight-line basis over the estimated useful lives of the assets. The estimation of useful life takes into consideration anticipated production lives from the fields serviced by the GPT assets, whether Apache-operated or third party-operated, as well as potential development plans by the Company for undeveloped acreage within, or close to, those fields.

TRANSACTIONS WITH PARENT AFFILI

TRANSACTIONS WITH PARENT AFFILIATE	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
TRANSACTIONS WITH PARENT AFFILIATE	TRANSACTIONS WITH PARENT AFFILIATE Apache is a direct, wholly owned subsidiary of APA. Apache holds assets in the U.S., Egypt, and the U.K. and provides administrative and support operations for certain APA subsidiaries with interests in the U.S., Suriname, and the Dominican Republic. The Company incurred $6 million and $5 million in the third quarters of 2023 and 2022, respectively, and $17 million and $14 million in the first nine months of 2023 and 2022, respectively, in reimbursable corporate overhead charges in connection with these administration and support operations. Notes Receivable from APA Corporation On March 1, 2021, Apache sold to APA all of the equity in the three Apache subsidiaries through which Apache’s interests in Suriname and the Dominican Republic were held. The purchase price is payable pursuant to a senior promissory note made by APA payable to Apache, dated March 1, 2021. The note has a seven-year term, maturing on February 29, 2028, and bears interest at a rate of 4.5 percent per annum, payable semi-annually, subject to APA’s option to allow accrued interest to convert to principal (PIK) during the first 5.5 years of the note’s term (to August 31, 2026). The note is guaranteed by each of the three subsidiaries sold by Apache to APA. APA allowed interest accrued from March 1, 2021 through August 31, 2023, totaling $158 million, to PIK pursuant to the note. As of September 30, 2023 and December 31, 2022, there were $1.5 billion and $1.4 billion, respectively, in principal outstanding under this note. APA also made a senior promissory note payable to Apache, dated March 31, 2023, pursuant to which Apache may loan and APA may borrow, repay, and reborrow up to $1.5 billion in aggregate principal amount outstanding at any time. The note has a five-year term, maturing March 31, 2028. The note bears interest at a rate per annum of 6.0 percent, payable semi-annually; however, APA may allow accrued interest to convert to principal, subject to the aggregate maximum principal amount of the note. APA allowed interest accrued from March 31, 2023 through May 15, 2023, totaling approximately $6 million, to PIK pursuant to the note. As of September 30, 2023, there were $1.1 billion in borrowings outstanding under this note. The note is intended to facilitate cash management of APA and Apache. These notes are both reflected in “Notes receivable from APA Corporation” on the Company’s consolidated balance sheet. The Company recognized interest income on these notes totaling $30 million and $16 million during the third quarters of 2023 and 2022, respectively, and $75 million and $47 million during the first nine months of 2023 and 2022, respectively. The interest income related to these notes is reflected in “Financing costs, net” on the Company’s statement of consolidated operations. Noncontrolling Interest – APA Corporation In the fourth quarter of 2021, in conjunction with the ratification of a new merged concession agreement (MCA) with the EGPC, Apache entered into an agreement with APA under which the historical value of existing concessions prior to ratifying the MCA was retained by Apache, with any excess value from the MCA terms being allocated to APA. Sinopec owns a one-third minority participation in the Company’s consolidated Egypt oil and gas business, and approximately 50 percent of the remaining net income and distributable cash flow for the Company’s Egyptian operations is being allocated to APA in 2023. Apache consolidates its Egyptian operations, with APA’s noncontrolling interest reflected as a separate component in the Company’s consolidated balance sheet. The Company recorded net income attributable to APA’s noncontrolling interest of $96 million and $65 million in the third quarters of 2023 and 2022, respectively, and $261 million and $221 million in the first nine months of 2023 and 2022, respectively. The Company also distributed $154 million and $140 million in the first nine months of 2023 and 2022, respectively, of cash to APA in association with its noncontrolling interest. Accounts Receivable from / Accounts Payable to APA In connection with the Company’s role as service provider to APA, Apache is reimbursed by APA for employee costs, certain internal costs, and third-party costs paid by the Company on behalf of APA. All reimbursements are based on actual costs incurred, and no market premium is applied by the Company to APA. The Company also collects third-party receivables on behalf of APA. As of September 30, 2023, the Company had accounts receivable from APA in connection with these services totaling $46 million, which is reflected in “Accounts receivable from APA Corporation” on the Company’s consolidated balance sheet. As of December 31, 2022, the Company had a receivable from APA totaling $869 million, which is reflected in “Noncurrent receivable from APA Corporation.” This balance was incorporated into the senior promissory note dated March 31, 2023, discussed above during the first nine months of 2023.

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES 2023 Activity During the first nine months of 2023, the Company completed leasehold and property acquisitions, primarily in the Permian Basin, for total cash consideration of approximately $10 million. During the third quarter and first nine months of 2023, the Company completed the sale of non-core assets and leasehold in multiple transactions for total cash proceeds of $1 million and $29 million, respectively, recognizing a gain of approximately $1 million and $7 million, respectively, upon closing of these transactions. 2022 Activity During the third quarter and first nine months of 2022, the Company completed leasehold and property acquisitions, primarily in the Permian Basin, for total cash consideration of approximately $3 million and $30 million, respectively. During the third quarter and first nine months of 2022, the Company completed the sale of non-core assets and leasehold in multiple transactions for total cash proceeds of $37 million and $52 million, respectively, recognizing a gain of approximately $34 million and $36 million, respectively, upon closing of these transactions. During the first nine months of 2022, the Company completed a transaction to sell certain non-core mineral rights in the Delaware Basin. The Company received total cash proceeds of approximately $726 million after certain post-closing adjustments and recognized an associated gain of approximately $560 million. The BCP Business Combination was completed on February 22, 2022. As consideration for the contribution of the Contributed Interests, ALTM issued 50 million shares of Class C Common Stock (and Altus Midstream LP issued a corresponding number of common units) to BCP’s unitholders, which are principally funds affiliated with Blackstone and I Squared Capital. ALTM’s stockholders continued to hold their existing shares of common stock. As a result of the transaction, the Contributor, or its designees, collectively owned approximately 75 percent of the issued and outstanding shares of ALTM common stock. Apache Midstream LLC, a wholly owned subsidiary of APA, which owned approximately 79 percent of the issued and outstanding shares of ALTM common stock prior to the BCP Business Combination, owned approximately 20 percent of the issued and outstanding shares of Kinetik common stock after the transaction closed. As a result of the BCP Business Combination, the Company deconsolidated ALTM on February 22, 2022 and recognized a gain of approximately $609 million that reflects the difference between the Company’s share of ALTM’s deconsolidated balance sheet of $193 million and the fair value of $802 million of its approximate 20 percent retained ownership in the combined entity. During the first quarter of 2022, the Company sold four million of its shares of Kinetik Class A Common Stock for cash proceeds of $224 million and recognized a loss of $25 million, including transaction fees. Refer to Note 7—Equity Method Interests for further detail.

CAPITALIZED EXPLORATORY WELL CO

CAPITALIZED EXPLORATORY WELL COSTS	9 Months Ended
	Sep. 30, 2023
Extractive Industries [Abstract]
CAPITALIZED EXPLORATORY WELL COSTS	CAPITALIZED EXPLORATORY WELL COSTS The Company’s capitalized exploratory well costs were $50 million and $50 million as of September 30, 2023 and December 31, 2022, respectively. The balance is primarily attributable to additional drilling activity in Egypt, partially offset by the transfer of successful well costs during the third quarter of 2023. Approximately $5 million of suspended well costs previously capitalized for greater than one year at December 31, 2022 were charged to dry hole expense during the third quarter of 2023. 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 proved reserves can be attributed to these projects.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2023
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, as well as fluctuations in exchange rates in connection with transactions denominated in foreign currencies. The Company manages the variability in its cash flows by occasionally entering into derivative transactions on a portion of its crude oil and natural gas production and foreign currency transactions. The Company may utilize various types of derivative financial instruments, including forward contracts, futures contracts, swaps, and options, to manage fluctuations in cash flows resulting from changes in commodity prices or foreign currency values. In December 2022, counterparty agreements for Apache’s commodity derivative instruments were transferred from Apache to APA Corporation. Apache had no outstanding derivative positions as of September 30, 2023 or December 31, 2022. Derivative Activity Recorded in the Statement of Consolidated Operations The following table summarizes the effect of derivative instruments on the Company’s statement of consolidated operations: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Realized: Commodity derivative instruments $ — $ (2) $ — $ (11) Foreign currency derivative instruments — (6) — (8) Realized losses, net — (8) — (19) Unrealized: Commodity derivative instruments — (35) — (79) Foreign currency derivative instruments — (1) — (9) Preferred Units embedded derivative — — — (31) Unrealized losses, net — (36) — (119) Derivative instrument losses, net $ — $ (44) $ — $ (138) Derivative instrument gains and losses were recorded in “Derivative instrument losses, net” under “Revenues and Other” in the Company’s statement of consolidated operations. Unrealized losses for derivative activity recorded in the statement of consolidated operations are reflected in the statement of consolidated cash flows separately as “Unrealized derivative instrument losses, net” under “Adjustments to reconcile net income to net cash provided by operating activities.”

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT ASSETS	OTHER CURRENT ASSETS The following table provides detail of the Company’s other current assets: September 30, 2023 December 31, 2022 (In millions) Inventories $ 429 $ 425 Drilling advances 46 64 Prepaid assets and other 32 54 Current decommissioning security for sold Gulf of Mexico assets 373 450 Total Other current assets $ 880 $ 993

EQUITY METHOD INTERESTS

EQUITY METHOD INTERESTS	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INTERESTS	EQUITY METHOD INTERESTS The Kinetik Class A Common Stock held by the Company is treated as an interest in equity securities measured at fair value. The Company elected the fair value option for measuring its equity method interest in Kinetik based on practical expedience, variances in reporting timelines, and cost-benefit considerations. The fair value of the Company’s interest in Kinetik is determined using observable share prices on a major exchange, a Level 1 fair value measurement. Fair value adjustments are recorded as a component of “Other, net” under “Revenues and other” in the Company’s statement of consolidated operations. The Company’s initial interest in Kinetik was measured at fair value based on the Company’s ownership of approximately 12.9 million shares of Kinetik Class A Common stock as of February 22, 2022. In March 2022, the Company sold four million of its shares of Kinetik Class A Common Stock for a loss, including underwriters fees, of $25 million, which was recorded as a component of “Gain on divestitures, net” under “Revenues and other” in the Company’s statement of consolidated operations. Refer to Note 3—Acquisitions and Divestitures for further detail. During the second quarter of 2022, Kinetik issued a two-for-one split of its common stock, resulting in the Company owning approximately 17.7 million shares. The Company has received approximately 2.5 million shares of Kinetik’s Class A Common Stock as paid-in-kind dividends through September 30, 2023. As of September 30, 2023, the Company’s ownership of 20.2 million shares represented approximately 14 percent of Kinetik’s outstanding Class A Common Stock. The Company recorded changes in the fair value of its equity method interest in Kinetik totaling losses of $14 million and $17 million in the third quarters of 2023 and 2022, respectively, and gains of $57 million and $49 million in the first nine months of 2023 and 2022, respectively. These gains and losses were recorded as a component of “Revenues and other” in the Company’s statement of consolidated operations. The following table represents sales and costs associated with Kinetik: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Natural gas and NGLs sales $ 27 $ — $ 56 $ — Purchased oil and gas sales 11 — 18 — $ 38 $ — $ 74 $ — Gathering, processing, and transmission costs $ 24 $ 28 $ 74 $ 64 Purchased oil and gas costs 37 — 65 — $ 61 $ 28 $ 139 $ 64 As of September 30, 2023, the Company has recorded accrued costs payable to Kinetik of approximately $42 million and receivables from Kinetik of approximately $25 million.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES The following table provides detail of the Company’s other current liabilities: September 30, 2023 December 31, 2022 (In millions) Accrued operating expenses $ 156 $ 139 Accrued exploration and development 289 300 Accrued compensation and benefits 379 514 Accrued interest 65 96 Accrued income taxes 228 90 Current asset retirement obligation 55 55 Current operating lease liability 108 167 Current decommissioning contingency for sold Gulf of Mexico properties 225 450 Other 338 238 Total Other current liabilities $ 1,843 $ 2,049

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	9 Months Ended
	Sep. 30, 2023
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: September 30, 2023 (In millions) Asset retirement obligation, December 31, 2022 $ 1,991 Liabilities incurred 12 Liabilities settled (34) Accretion expense 86 Asset retirement obligation, September 30, 2023 2,055 Less current portion (55) Asset retirement obligation, long-term $ 2,000

DEBT AND FINANCING COSTS

DEBT AND FINANCING COSTS	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT AND FINANCING COSTS	DEBT AND FINANCING COSTS The following table presents the carrying values of the Company’s debt: September 30, 2023 December 31, 2022 (In millions) Notes and debentures before unamortized discount and debt issuance costs (1) $ 4,835 $ 4,908 Finance lease obligations 33 34 Unamortized discount (26) (27) Debt issuance costs (26) (28) Total debt 4,816 4,887 Current maturities (2) (2) Long-term debt $ 4,814 $ 4,885 (1) The fair values of the Company’s notes and debentures were $4.1 billion and $4.2 billion as of September 30, 2023 and December 31, 2022, respectively. Apache uses a market approach to determine the fair values of its notes and debentures using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement). At each of September 30, 2023 and December 31, 2022, current debt included $2 million of finance lease obligations. During the nine months ended September 30, 2023, Apache purchased in the open market and canceled senior notes issued under its indentures in an aggregate principal amount of $74 million for an aggregate purchase price of $65 million in cash, including accrued interest and broker fees, reflecting a discount to par of an aggregate $10 million. The Company recognized a $9 million gain on these repurchases. The repurchases were partially financed by Apache’s borrowing under the US dollar-denominated revolving credit facility of APA Corporation described below. During the nine months ended September 30, 2022, Apache closed cash tender offers for certain outstanding notes issued under its indentures, accepting for purchase $1.1 billion aggregate principal amount of notes. Apache paid holders an aggregate $1.2 billion in cash, reflecting principal, premium to par, and accrued and unpaid interest. The Company recognized a $66 million loss on extinguishment of debt, including $11 million of unamortized debt discount and issuance costs in connection with the note purchases. The repurchases were partially financed by borrowing under Apache’s former revolving credit facility. During the nine months ended September 30, 2022, Apache purchased in the open market and canceled senior notes issued under its indentures in an aggregate principal amount of $15 million for an aggregate purchase price of $16 million in cash, including accrued interest and broker fees, reflecting a premium to par of $1 million. The Company recognized a $1 million loss on these repurchases. The repurchases were partially financed by borrowing under Apache’s former revolving credit facility. On January 18, 2022, Apache redeemed the outstanding $213 million principal amount of 3.25% senior notes due April 15, 2022, at a redemption price equal to 100 percent of their principal amount, plus accrued and unpaid interest to the redemption date. The redemption was financed by borrowing under Apache’s former revolving credit facility. Apache intends to reduce debt outstanding under its indentures from time to time. On April 29, 2022, Apache entered into two unsecured guaranties of obligations under two unsecured syndicated credit agreements then entered into by APA, of which Apache is a wholly owned subsidiary. APA’s new credit agreements are for general corporate purposes and replaced and refinanced Apache’s 2018 unsecured syndicated credit agreement (the Former Facility). • One credit agreement is denominated in US dollars (the USD Agreement) and provides for an unsecured five-year revolving credit facility, with aggregate commitments of US$1.8 billion (including a letter of credit subfacility of up to US$750 million, of which US$150 million currently is committed). APA may increase commitments up to an aggregate US$2.3 billion by adding new lenders or obtaining the consent of any increasing existing lenders. This facility matures in April 2027, subject to APA’s two, one-year extension options. • The second credit agreement is denominated in pounds sterling (the GBP Agreement) and provides for an unsecured five-year revolving credit facility, with aggregate commitments of £1.5 billion for loans and letters of credit. This facility matures in April 2027, subject to APA’s two, one-year extension options. In connection with APA’s entry into the USD Agreement and the GBP Agreement (each, a New Agreement), Apache terminated US$4.0 billion of commitments under the Former Facility, borrowings then outstanding under the Former Facility were deemed outstanding under APA’s USD Agreement, and letters of credit then outstanding under the Former Facility were deemed outstanding under a New Agreement, depending upon whether denominated in US dollars or pounds sterling. Apache has guaranteed obligations under each New Agreement effective until the aggregate principal amount of indebtedness under senior notes and debentures outstanding under Apache’s existing indentures is less than US$1.0 billion. Apache may borrow under APA’s USD Agreement up to an aggregate principal amount of US$300 million outstanding at any given time. As of September 30, 2023 and December 31, 2022, there were no borrowings by Apache outstanding under the USD Agreement. Apache, from time to time, has and uses uncommitted credit and letter of credit facilities for working capital and credit support purposes. As of September 30, 2023 and December 31, 2022, there were no outstanding borrowings under these facilities. As of September 30, 2023, there were £185 million and $3 million in letters of credit outstanding under these facilities. As of December 31, 2022, there were £199 million and $17 million in letters of credit outstanding under these facilities. Financing Costs, Net The following table presents the components of the Company’s financing costs, net: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Interest expense $ 71 $ 74 $ 220 $ 239 Amortization of debt issuance costs 1 1 2 7 Capitalized interest — — — (1) (Gain) loss on extinguishment of debt — — (9) 67 Interest income (2) (4) (7) (9) Interest income from APA Corporation, net ( Note 2 ) (30) (16) (75) (46) Financing costs, net $ 40 $ 55 $ 131 $ 257

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company estimates its annual effective income tax rate in recording its quarterly provision for income taxes in the various jurisdictions in which the Company operates. Non-cash impairments on 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 third quarter of 2023, the Company’s effective income tax rate was primarily impacted by a decrease in the amount of valuation allowance against its U.S. deferred tax assets. The Company’s 2023 year-to-date effective income tax rate was primarily impacted by a deferred tax expense related to the remeasurement of taxes in the U.K. as a result of the enactment of Finance Act 2023 on January 10, 2023, and a decrease in the amount of valuation allowance against its U.S. deferred tax assets. During the third quarter of 2022, the Company’s effective income tax rate was primarily impacted by a deferred tax expense related to the remeasurement of taxes in the U.K. as a result of the enactment of the Energy (Oil and Gas) Profits Levy Act of 2022 on July 14, 2022, and a decrease in the amount of valuation allowance against its U.S. deferred tax assets. The Company’s 2022 year-to-date effective income tax rate was primarily impacted by the gain associated with deconsolidation of Altus, the gain on sale of certain non-core mineral rights in the Delaware Basin, a deferred tax expense related to the remeasurement of taxes in the U.K., and a decrease in the amount of valuation allowance against its U.S. deferred tax assets. On January 10, 2023, Finance Act 2023 was enacted, receiving Royal Assent, and included amendments to the Energy (Oil and Gas) Profits Levy Act of 2022, increasing the levy from a 25 percent rate to a 35 percent rate, effective for the period of January 1, 2023 through March 31, 2028. Under U.S. GAAP, the financial statement impact of new legislation is recorded in the period of enactment. Therefore, in the first quarter of 2023, the Company recorded a deferred tax expense of $174 million related to the remeasurement of the December 31, 2022 U.K. deferred tax liability. On August 16, 2022, the U.S. enacted the Inflation Reduction Act of 2022 (IRA). The IRA includes a new 15 percent corporate alternative minimum tax (Corporate AMT) on applicable corporations with an average annual financial statement income that exceeds $1 billion for any three consecutive years preceding the tax year at issue. The Corporate AMT is effective for tax years beginning after December 31, 2022. The Company is continuing to evaluate the provisions of the IRA and awaits further guidance from the U.S. Treasury Department to properly assess the impact of these provisions on the Company. Under the existing guidance, the Company does not believe the IRA will have a material impact for 2023. The Company has a full valuation allowance against its U.S. net deferred tax assets. The Company will continue to maintain a full valuation allowance on its U.S. net deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of this allowance. However, given the Company’s current and anticipated future domestic earnings, the Company believes that there is a reasonable possibility that in the next 12 months sufficient positive evidence may become available to allow the Company to reach a conclusion that a significant portion of the U.S. valuation allowance will no longer be needed. A release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense, which could be material, for the period the release is recorded.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Matters The Company is party to various legal actions arising in the ordinary course of business, including litigation and governmental and regulatory controls, which also may include controls related to the potential impacts of climate change. As of September 30, 2023, the Company has an accrued liability of approximately $49 million for all legal contingencies that are deemed to be probable of occurring and can be reasonably estimated. The Company’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 the Company’s financial position, results of operations, or liquidity after consideration of recorded accruals. With respect to material matters for which the Company 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 Legal Matters described below, refer to Note 12—Commitments and Contingencies to the consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Argentine Environmental Claims On March 12, 2014, the Company and its subsidiaries completed the sale of all of the Company’s subsidiaries’ operations and properties in Argentina to YPF Sociedad Anonima (YPF). As part of that sale, YPF assumed responsibility for all of the past, present, and future litigation in Argentina involving Company subsidiaries, except that Company subsidiaries have agreed to indemnify YPF for certain environmental, tax, and royalty obligations capped at an aggregate of $100 million. The indemnity is subject to specific agreed conditions precedent, thresholds, contingencies, limitations, claim deadlines, loss sharing, and other terms and conditions. On April 11, 2014, YPF provided its first notice of claims pursuant to the indemnity. Company subsidiaries have not paid any amounts under the indemnity but will continue to review and consider claims presented by YPF. Further, Company subsidiaries retain the right to enforce certain Argentina-related indemnification obligations against Pioneer Natural Resources Company (Pioneer) in an amount up to $45 million pursuant to the terms and conditions of stock purchase agreements entered in 2006 between Company subsidiaries and subsidiaries of Pioneer. Louisiana Restoration As more fully described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, Louisiana surface owners often file lawsuits or assert claims against oil and gas companies, including the Company, claiming that operators and working interest owners in the chain of title are liable for environmental damages on the leased premises, including damages measured by the cost of restoration of the leased premises to its original condition, regardless of the value of the underlying property. From time to time, restoration lawsuits and claims are resolved by the Company for amounts that are not material to the Company, while new lawsuits and claims are asserted against the Company. With respect to each of the pending lawsuits and claims, the amount claimed is not currently determinable or is not material. Further, the overall exposure related to these lawsuits and claims is not currently determinable. While adverse judgments against the Company are possible, the Company intends to actively defend these lawsuits and claims. Starting in November of 2013 and continuing into 2023, several parishes in Louisiana have pending lawsuits against many oil and gas producers, including the Company. 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 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 adverse judgments against the Company might be possible, the Company intends to vigorously oppose these claims. Apollo Exploration Lawsuit 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 alleged damages in excess of $200 million (having previously claimed in excess of $1.1 billion) relating to purchase and sale agreements, mineral leases, and area of mutual interest agreements concerning properties located in Hartley, Moore, Potter, and Oldham Counties, Texas. The trial court entered final judgment in favor of the Company, ruling that the plaintiffs take nothing by their claims and awarding the Company its attorneys’ fees and costs incurred in defending the lawsuit. The court of appeals affirmed in part and reversed in part the trial court’s judgment thereby reinstating some of plaintiffs’ claims. The Texas Supreme Court granted the Company’s petition for review and heard oral argument in October 2022. On April 28, 2023, the Texas Supreme Court reversed the court of appeals’ decision and remanded the case back to the court of appeals for further proceedings. After plaintiffs’ request for rehearing, on July 21, 2023, the Texas Supreme Court reaffirmed its reversal of the court of appeals’ decision and remand of the case back to the court of appeals for further proceedings. Australian Operations Divestiture Dispute Pursuant to a Sale and Purchase Agreement dated April 9, 2015 (Quadrant SPA), the Company and its subsidiaries divested Australian operations to Quadrant Energy Pty Ltd (Quadrant). Closing occurred on June 5, 2015. In April 2017, the Company filed suit against Quadrant for breach of the Quadrant SPA. In its suit, the Company seeks approximately AUD $80 million. In December 2017, Quadrant filed a defense of equitable set-off to the Company’s claim and a counterclaim seeking approximately AUD $200 million in the aggregate. The Company will vigorously prosecute its claim while vigorously defending against Quadrant’s counter claims. Canadian Operations Divestiture Dispute Pursuant to a Sale and Purchase Agreement dated July 6, 2017 (Paramount SPA), the Company and its subsidiaries divested their remaining Canadian operations to Paramount Resources LTD (Paramount). Closing occurred on August 16, 2017. On September 11, 2019, four ex-employees of Apache Canada LTD on behalf of themselves and individuals employed by Apache Canada LTD on July 6, 2017, filed an Amended Statement of Claim in a matter styled Stephen Flesch et. al. v Apache Corporation et. al ., No. 1901-09160 Court of Queen’s Bench of Alberta against the Company and others seeking class certification and a finding that the Paramount SPA amounted to a Change of Control of the Company, entitling them to accelerated vesting under the Company’s equity plans. In the suit, the class seeks approximately $60 million USD and punitive damages. Without acknowledging or admitting any liability and solely to avoid the expense and uncertainty of future litigation, Apache has agreed to a settlement in the Flesch class action matter under which Apache will pay $7 million USD to resolve all claims against the Company asserted by the class. The settlement is subject to court approval and is expected to be finalized by the end of 2023. California and Delaware Litigation On July 17, 2017, in three separate actions, San Mateo and Marin Counties, and the City of Imperial Beach, California, all filed suit individually and on behalf of the people of the state of California against over 30 oil and gas companies alleging damages as a result of global warming. Plaintiffs seek unspecified damages and abatement under various tort theories. On December 20, 2017, in two separate actions, the City of Santa Cruz and Santa Cruz County filed similar lawsuits against many of the same defendants. On January 22, 2018, the City of Richmond filed a similar lawsuit. On November 14, 2018, the Pacific Coast Federation of Fishermen’s Associations, Inc. also filed a similar lawsuit against many of the same defendants. On September 10, 2020, the State of Delaware filed suit, individually and on behalf of the people of the State of Delaware, against over 25 oil and gas companies alleging damages as a result of global warming. Plaintiffs seek unspecified damages and abatement under various tort theories. The Company intends to challenge personal jurisdiction in California and to vigorously defend the Delaware lawsuit. Kulp Minerals Lawsuit On or about April 7, 2023, Apache was sued in a purported class action in New Mexico styled Kulp Minerals LLC v. Apache Corporation , Case No. D-506-CV-2023-00352 in the Fifth Judicial District. The Kulp Minerals case has not been certified and seeks to represent a group of owners allegedly owed statutory interest under New Mexico law as a result of purported late oil and gas payments. The amount of this claim is not yet reasonably determinable. The Company intends to vigorously defend against the claims asserted in this lawsuit. Shareholder and Derivative Lawsuits On February 23, 2021, a case captioned Plymouth County Retirement System v. Apache Corporation, et al. was filed in the United States District Court for the Southern District of Texas (Houston Division) against the Company and certain current and former officers. The complaint, which is a shareholder lawsuit styled as a class action, alleges that (1) the Company intentionally used unrealistic assumptions regarding the amount and composition of available oil and gas in Alpine High; (2) the Company did not have the proper infrastructure in place to safely and/or economically drill and/or transport those resources even if they existed in the amounts purported; (3) certain statements and omissions artificially inflated the value of the Company’s operations in the Permian Basin; and (4) as a result, the Company’s public statements were materially false and misleading. The Company intends to vigorously defend this lawsuit. On January 18, 2023, a case captioned Jerry Hight, Derivatively and on behalf of APA Corporation v. John J. Christmann IV et al. was filed in the 61st District Court of Harris County, Texas. Then, on February 21, 2023, a case captioned Steve Silverman, Derivatively and on behalf of Nominal Defendant APA Corp. v. John J. Christmann IV, et al. was filed in federal district court for the Southern District of Texas. Then, on April 20, 2023, a case captioned William Wessels, Derivatively and on behalf of APA Corporation v. John J. Christmann IV et al. was filed in the 151st District Court of Harris County, Texas. Then, on July 21, 2023, a case captioned Yang-Li-Yu, Derivatively and on behalf of Nominal Defendant APA Corp. v. John J. Christmann IV, et al. was filed in federal district court for the Southern District of Texas. These cases purport to be derivative actions brought against senior management and Company directors over many of the same allegations included in the Plymouth County Retirement System matter and asserts claims of (1) breach of fiduciary duty; (2) waste of corporate assets; and (3) unjust enrichment. The defendants intend to vigorously defend these lawsuits. Environmental Matters As of September 30, 2023, the Company had an undiscounted reserve for environmental remediation of approximately $5 million. On September 11, 2020, the Company received a Notice of Violation and Finding of Violation, and accompanying Clean Air Act Information Request, from the U.S. Environmental Protection Agency (EPA) following site inspections in April 2019 at several of the Company’s oil and natural gas production facilities in Lea and Eddy Counties, New Mexico. The notice and information request involve alleged emissions control and reporting violations. The Company is cooperating with the EPA and has responded to the information request. The EPA has referred the notice for civil enforcement proceedings. On December 29, 2020, the Company received a Notice of Violation and Opportunity to Confer, and accompanying Clean Air Act Information Request, from the EPA following helicopter flyovers in September 2019 of several of the Company’s oil and natural gas production facilities in Reeves County, Texas. The notice and information request involve alleged emissions control and reporting violations. The Company is cooperating with the EPA and has responded to the information request. The EPA has referred the notice for civil enforcement proceedings. The Company is not aware of any environmental claims existing as of September 30, 2023, 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. Potential Decommissioning Obligations on Sold Properties In 2013, Apache sold its Gulf of Mexico (GOM) Shelf operations and properties and its GOM operating subsidiary, GOM Shelf LLC (GOM Shelf) to Fieldwood Energy LLC (Fieldwood). Under the terms of the purchase agreement, Apache received cash consideration of $3.75 billion and Fieldwood assumed the obligation to decommission the properties held by GOM Shelf and the properties acquired from Apache and its other subsidiaries (collectively, the Legacy GOM Assets). In respect of such abandonment obligations, Fieldwood posted letters of credit in favor of Apache (Letters of Credit) and established trust accounts (Trust A and Trust B) of which Apache was a beneficiary and which were funded by two net profits interests (NPIs) depending on future oil prices. On February 14, 2018, Fieldwood filed for protection under Chapter 11 of the U.S. Bankruptcy Code. In connection with the 2018 bankruptcy, Fieldwood confirmed a plan under which Apache agreed, inter alia, to (i) accept bonds in exchange for certain of the Letters of Credit and (ii) amend the Trust A trust agreement and one of the NPIs to consolidate the trusts into a single Trust (Trust A) funded by both remaining NPIs. Following the 2018 reorganization of Fieldwood, Apache held two bonds (Bonds) and five Letters of Credit securing Fieldwood’s asset retirement obligations on the Legacy GOM Assets as and when Apache is required to perform or pay for decommissioning any Legacy GOM Asset over the remaining life of the Legacy GOM Assets. On August 3, 2020, Fieldwood again filed for protection under Chapter 11 of the U.S. Bankruptcy Code. On June 25, 2021, the United States Bankruptcy Court for the Southern District of Texas (Houston Division) entered an order confirming Fieldwood’s bankruptcy plan. On August 27, 2021, Fieldwood’s bankruptcy plan became effective. Pursuant to the plan, the Legacy GOM Assets were separated into a standalone company, which was subsequently merged into GOM Shelf. Under GOM Shelf’s limited liability company agreement, the proceeds of production of the Legacy GOM Assets will be used to fund the operation of GOM Shelf and the decommissioning of Legacy GOM Assets. By letter dated April 5, 2022, replacing two prior letters dated September 8, 2021 and February 22, 2022, and by subsequent letter dated March 1, 2023, GOM Shelf notified the Bureau of Safety and Environmental Enforcement (BSEE) that it was unable to fund the decommissioning obligations that it is currently obligated to perform on certain of the Legacy GOM Assets. As a result, Apache and other current and former owners in these assets have received orders from BSEE to decommission certain of the Legacy GOM Assets included in GOM Shelf’s notifications to BSEE. Apache expects to receive similar orders on the other Legacy GOM Assets included in GOM Shelf’s notification letters. Apache has also received orders to decommission other Legacy GOM Assets that were not included in GOM Shelf’s notification letters. Further, Apache anticipates that GOM Shelf may send additional such notices to BSEE in the future and that it may receive additional orders from BSEE requiring it to decommission other Legacy GOM Assets. As of September 30, 2023, Apache has incurred $692 million in decommissioning costs related to several Legacy GOM Assets. GOM Shelf did not, and has confirmed that it will not, reimburse Apache for these decommissioning costs. As a result, Apache has sought and will continue to seek reimbursement from its security for these costs, of which $288 million had been reimbursed from Trust A and $87 million has been reimbursed from the Letters of Credit as of September 30, 2023. If GOM Shelf does not reimburse Apache for further decommissioning costs incurred with respect to Legacy GOM Assets, then Apache will continue to seek reimbursement from Trust A, to the extent of available funds, and thereafter, will seek further reimbursement from the Bonds and the Letters of Credit until all such funds and securities are fully utilized. In addition, after such sources have been exhausted, Apache has agreed to provide a standby loan to GOM Shelf of up to $400 million to perform decommissioning (Standby Loan Agreement), with such standby loan secured by a first and prior lien on the Legacy GOM Assets. If the combination of GOM Shelf’s net cash flow from its producing properties, the Trust A funds, the Bonds, and the remaining Letters of Credit are insufficient to fully fund decommissioning of any Legacy GOM Assets that Apache may be required to perform or fund, or if GOM Shelf’s net cash flow from its remaining producing properties after the Trust A funds, Bonds, and Letters of Credit are exhausted is insufficient to repay any loans made by Apache under the Standby Loan Agreement, then Apache may be forced to effectively use its available cash to fund the deficit. As of September 30, 2023, Apache estimates that its potential liability to fund the remaining decommissioning of Legacy GOM Assets it may be ordered to perform or fund ranges from $695 million to $895 million on an undiscounted basis. Management does not believe any specific estimate within this range is a better estimate than any other. Accordingly, the Company has recorded a contingent liability of $695 million as of September 30, 2023, representing the estimated costs of decommissioning it may be required to perform or fund on Legacy GOM Assets. Of the total liability recorded, $470 million is reflected under the caption “Decommissioning contingency for sold Gulf of Mexico properties,” and $225 million is reflected under “Other current liabilities” in the Company’s consolidated balance sheet. Changes in significant assumptions impacting Apache’s estimated liability, including expected decommissioning rig spread rates, lift boat rates, and planned abandonment logistics could result in a liability in excess of the amount accrued. As of September 30, 2023, the Company has also recorded a $411 million asset, which represents the remaining amount the Company expects to be reimbursed from the Trust A funds, the Bonds, and the Letters of Credit for decommissioning it may be required to perform on Legacy GOM Assets. Of the total asset recorded, $38 million is reflected under the caption “Decommissioning security for sold Gulf of Mexico properties,” and $373 million is reflected under “Other current assets.” On June 21, 2023, the two sureties that issued bonds directly to Apache and two sureties that issued bonds to the issuing bank on the Letters of Credit filed suit against Apache in a case styled Zurich American Insurance Company, HCC International Insurance Company PLC, Philadelphia Indemnity Insurance Company and Everest Reinsurance Company (Insurers) v. Apache Corporation , Cause No. 2023-38238 in the 281 st Judicial District Court, Harris County Texas. Insurers are seeking to prevent Apache from drawing on the Bonds and Letters of Credit and further allege that they are discharged from their reimbursement obligations related to decommissioning costs and are entitled to other relief. On July 20, 2023, the 281 st Judicial District Court denied the Insurers’ request for a temporary injunction. On July 26, 2023, Apache removed the suit to the United States Bankruptcy Court for the Southern District of Texas (Houston Division). Apache intends to vigorously defend these claims, and will vigorously pursue its counterclaims.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION As of September 30, 2023, the Company is engaged in exploration and production (Upstream) activities across three operating segments: Egypt, North Sea, and the U.S. The Company’s Upstream business explores for, develops, and produces crude oil, natural gas, and natural gas liquids. Prior to the deconsolidation of Altus on February 22, 2022, the Company’s Midstream business was operated by ALTM, which owned, developed, and operated a midstream energy asset network in the Permian Basin of West Texas. Financial information for each segment is presented below: Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Quarter Ended September 30, 2023 (In millions) Revenues: Oil revenues $ 724 $ 348 $ 557 $ — $ — $ 1,629 Natural gas revenues 81 66 83 — — 230 Natural gas liquids revenues — 5 119 — — 124 Oil, natural gas, and natural gas liquids production revenues 805 419 759 — — 1,983 Purchased oil and gas sales — — 229 — — 229 805 419 988 — — 2,212 Operating Expenses: Lease operating expenses 128 102 151 — — 381 Gathering, processing, and transmission 13 15 55 — — 83 Purchased oil and gas costs — — 211 — — 211 Taxes other than income — — 56 — — 56 Exploration 25 9 4 — 1 39 Depreciation, depletion, and amortization 129 90 158 — — 377 Asset retirement obligation accretion — 20 9 — — 29 295 236 644 — 1 1,176 Operating Income (2) $ 510 $ 183 $ 344 $ — $ (1) 1,036 Other Income (Expense): Gain on divestitures, net 1 Other, net 7 General and administrative (132) Transaction, reorganization, and separation (5) Financing costs, net (40) Income Before Income Taxes $ 867 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Nine Months Ended September 30, 2023 (In millions) Revenues: Oil revenues $ 1,971 $ 865 $ 1,469 $ — $ — $ 4,305 Natural gas revenues 264 165 214 — — 643 Natural gas liquids revenues — 19 322 — — 341 Oil, natural gas, and natural gas liquids production revenues 2,235 1,049 2,005 — — 5,289 Purchased oil and gas sales — — 612 — — 612 2,235 1,049 2,617 — — 5,901 Operating Expenses: Lease operating expenses 346 278 423 — — 1,047 Gathering, processing, and transmission 26 38 167 — — 231 Purchased oil and gas costs — — 558 — — 558 Taxes other than income — — 153 — — 153 Exploration 91 18 10 — 1 120 Depreciation, depletion, and amortization 378 209 437 — — 1,024 Asset retirement obligation accretion — 57 29 — — 86 Impairments — 46 — — — 46 841 646 1,777 — 1 3,265 Operating Income (2) $ 1,394 $ 403 $ 840 $ — $ (1) 2,636 Other Income (Expense): Gain on divestitures, net 7 Other, net 84 General and administrative (256) Transaction, reorganization, and separation (11) Financing costs, net (131) Income Before Income Taxes $ 2,329 Total Assets (3) $ 3,518 $ 1,665 $ 9,616 $ — $ — $ 14,799 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Quarter Ended September 30, 2022 (In millions) Revenues: Oil revenues $ 739 $ 303 $ 565 $ — $ — $ 1,607 Natural gas revenues 84 44 285 — — 413 Natural gas liquids revenues — 5 183 — — 188 Oil, natural gas, and natural gas liquids production revenues 823 352 1,033 — — 2,208 Purchased oil and gas sales — — 585 — — 585 823 352 1,618 — — 2,793 Operating Expenses: Lease operating expenses 119 107 137 — — 363 Gathering, processing, and transmission 5 7 82 — — 94 Purchased oil and gas costs — — 573 — — 573 Taxes other than income — — 74 — — 74 Exploration 29 1 16 — — 46 Depreciation, depletion, and amortization 97 52 139 — — 288 Asset retirement obligation accretion — 21 8 — — 29 250 188 1,029 — — 1,467 Operating Income (2) $ 573 $ 164 $ 589 $ — $ — 1,326 Other Income (Expense): Derivative instrument losses, net (44) Gain on divestitures, net 31 Other, net (10) General and administrative (64) Transaction, reorganization, and separation (4) Financing costs, net (55) Income Before Income Taxes $ 1,180 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Nine Months Ended September 30, 2022 (In millions) Revenues: Oil revenues $ 2,431 $ 938 $ 1,818 $ — $ — $ 5,187 Natural gas revenues 270 207 749 — — 1,226 Natural gas liquids revenues 6 33 604 — (3) 640 Oil, natural gas, and natural gas liquids production revenues 2,707 1,178 3,171 — (3) 7,053 Purchased oil and gas sales — — 1,451 5 — 1,456 Midstream service affiliate revenues — — — 16 (16) — 2,707 1,178 4,622 21 (19) 8,509 Operating Expenses: Lease operating expenses 381 321 365 — (1) 1,066 Gathering, processing, and transmission 15 31 236 5 (18) 269 Purchased oil and gas costs — — 1,452 — — 1,452 Taxes other than income — — 219 3 — 222 Exploration 56 8 21 — 1 86 Depreciation, depletion, and amortization 285 168 402 2 — 857 Asset retirement obligation accretion — 61 25 1 — 87 737 589 2,720 11 (18) 4,039 Operating Income (Loss) (2) $ 1,970 $ 589 $ 1,902 $ 10 $ (1) 4,470 Other Income (Expense): Derivative instrument losses, net (138) Gain on divestitures, net 1,180 Other, net 99 General and administrative (298) Transaction, reorganization, and separation (21) Financing costs, net (257) Income Before Income Taxes $ 5,035 Total Assets (3) $ 3,242 $ 2,185 $ 8,765 $ — $ — $ 14,192 (1) Includes oil and gas production revenue that will be paid as taxes by EGPC on behalf of the Company for the quarters and nine months ended September 30, 2023 and 2022 of: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Oil $ 202 $ 227 $ 539 $ 779 Natural gas 23 26 73 87 Natural gas liquids — — — 2 (2) Operating income of U.S. and North Sea includes leasehold impairments of $2 million and $6 million, respectively, for the third quarter of 2023. (3) Intercompany balances are excluded from total assets. (4) Includes noncontrolling interests of Sinopec, Altus prior to deconsolidation, and APA.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Apache and its subsidiaries after elimination of intercompany balances and transactions. The Company’s undivided interests in oil and gas exploration and production ventures and partnerships are proportionately consolidated. The Company consolidates all other investments in which, either through direct or indirect ownership, it has more than a 50 percent voting interest or controls the financial and operating decisions. Noncontrolling interests represent third-party ownership in the net assets of a consolidated subsidiary of Apache and are reflected separately in the Company’s financial statements. Apache has determined that one of its limited partnership subsidiaries, which has control over Apache’s Egyptian operations, qualified as a variable interest entity (VIE) under GAAP. Apache continues to consolidate this limited partnership subsidiary because the Company has concluded that it has a controlling financial interest in the Egyptian operations and was determined to be the primary beneficiary of the VIE. Sinopec International Petroleum Exploration and Production Corporation (Sinopec) owns a one-third minority participation in the Company’s consolidated Egypt oil and gas business as a noncontrolling interest. APA Corporation (APA) also owns a noncontrolling interest in Apache’s consolidated Egypt oil and gas business. Refer to Note 2—Transactions with Parent Affiliate for detail regarding APA’s noncontrolling interest. All noncontrolling interests are reflected as a separate component of equity in the Company’s consolidated balance sheet. Additionally, prior to the BCP Business Combination defined below, third-party investors owned a minority interest of approximately 21 percent of Altus Midstream Company (ALTM or Altus), which was reflected as a separate noncontrolling interest component of equity in the Company’s consolidated balance sheet. ALTM qualified as a VIE under GAAP, which Apache consolidated because a wholly owned subsidiary of Apache had a controlling financial interest and was determined to be the primary beneficiary. On February 22, 2022, ALTM closed a previously announced transaction to combine with privately owned BCP Raptor Holdco LP (BCP and, together with BCP Raptor Holdco GP, LLC, the Contributed Entities) in an all-stock transaction, pursuant to the Contribution Agreement entered into by and among ALTM, Altus Midstream LP, New BCP Raptor Holdco, LLC (the Contributor), and BCP (the BCP Contribution Agreement). Pursuant to the BCP Contribution Agreement, the Contributor contributed all of the equity interests of the Contributed Entities (the Contributed Interests) to Altus Midstream LP, with each Contributed Entity becoming a wholly owned subsidiary of Altus Midstream LP (the BCP Business Combination). Upon closing the transaction, the combined entity was renamed Kinetik Holdings Inc. (Kinetik), and the Company determined that it was no longer the primary beneficiary of Kinetik. The Company further determined that Kinetik no longer qualified as a VIE under GAAP. As a result, the Company deconsolidated ALTM on February 22, 2022. Refer to Note 3—Acquisitions and Divestitures for further detail.
Use of Estimates	Use of Estimates Preparation of financial statements in conformity with GAAP and disclosure of contingent assets and liabilities 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. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. The Company evaluates its estimates and assumptions on a regular basis. Actual results may differ from these estimates and assumptions used in preparation of the Company’s financial statements, and changes in these estimates are recorded when known. Significant estimates with regard to these financial statements include the estimates of fair value for long-lived assets (refer to “Fair Value Measurements” and “Property and Equipment” sections in this Note 1 below), the fair value determination of acquired assets and liabilities (refer to Note 3—Acquisitions and Divestitures ), the fair value of equity method interests (refer to “Equity Method Interests” within this Note 1 below and Note 7—Equity Method Interests ), the assessment of asset retirement obligations (refer to Note 9—Asset Retirement Obligation ), the estimate of income taxes (refer to Note 11—Income Taxes ), the estimation of the contingent liability representing Apache’s potential decommissioning obligations on sold properties in the Gulf of Mexico (refer to Note 12—Commitments and Contingencies ), and the estimate of proved oil and gas reserves and related present value estimates of future net cash flows therefrom.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are reported at fair value on a recurring basis in the Company’s consolidated balance sheet. Accounting Standards Codification (ASC) 820-10-35, “Fair Value Measurement” (ASC 820), 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).
Accounts Receivable from / Accounts Payable to APA	Accounts Receivable from / Accounts Payable to APAAccounts receivable from or payable to APA represents the net result of Apache’s administrative and support services provided to APA and other miscellaneous cash management transactions to be settled between the two affiliated entities. Generally, cash in this amount will be transferred to Apache or paid to APA in subsequent periods, after current period transactions are processed and net results of operations are determined. However, from time to time, Apache may estimate and transfer the cash settlement amount in the month the transactions are processed in order to minimize affiliate working capital balances or retain affiliate balances for cash management purposes.
Revenue Recognition	Revenue Recognition There have been no significant changes to the Company’s contracts with customers during the nine months ended September 30, 2023 and 2022. Oil and gas production revenues include income taxes that will be paid to the Arab Republic of Egypt by EGPC on behalf of the Company. Revenue and associated expenses related to such tax volumes are recorded as “Oil, natural gas, and natural gas liquids production revenues” and “Current income tax provision,” respectively, in the Company’s statement of consolidated operations. Refer to Note 13—Business Segment Information for a disaggregation of oil, gas, and natural gas production revenue by product and reporting segment.
Inventories	Inventories Inventories consist principally of tubular goods and equipment and are stated at the lower of weighted-average cost or net realizable value. Oil produced but not sold, primarily in the North Sea, is also recorded to inventory and is stated at the lower of the cost to produce or net realizable value.
Property and Equipment	Property and Equipment
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 associated proved oil and gas properties. 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 used to calculate the depreciation for capitalized well 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 the carrying value of proved oil and gas properties may not be recoverable, 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 the Company’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 ASC 820. The expected future cash flows used for impairment reviews and related fair value calculations are typically based on judgmental assessments, a Level 3 fair value measurement.
Gathering, Processing, and Transmission (GPT) Facilities	Gathering, Processing, and Transmission (GPT) Facilities GPT facilities are depreciated on a straight-line basis over the estimated useful lives of the assets. The estimation of useful life takes into consideration anticipated production lives from the fields serviced by the GPT assets, whether Apache-operated or third party-operated, as well as potential development plans by the Company for undeveloped acreage within, or close to, those fields.

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments on Statement of Consolidated Operations	The following table summarizes the effect of derivative instruments on the Company’s statement of consolidated operations: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Realized: Commodity derivative instruments $ — $ (2) $ — $ (11) Foreign currency derivative instruments — (6) — (8) Realized losses, net — (8) — (19) Unrealized: Commodity derivative instruments — (35) — (79) Foreign currency derivative instruments — (1) — (9) Preferred Units embedded derivative — — — (31) Unrealized losses, net — (36) — (119) Derivative instrument losses, net $ — $ (44) $ — $ (138)

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	The following table provides detail of the Company’s other current assets: September 30, 2023 December 31, 2022 (In millions) Inventories $ 429 $ 425 Drilling advances 46 64 Prepaid assets and other 32 54 Current decommissioning security for sold Gulf of Mexico assets 373 450 Total Other current assets $ 880 $ 993

EQUITY METHOD INTERESTS (Tables

EQUITY METHOD INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investment Information	The following table represents sales and costs associated with Kinetik: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Natural gas and NGLs sales $ 27 $ — $ 56 $ — Purchased oil and gas sales 11 — 18 — $ 38 $ — $ 74 $ — Gathering, processing, and transmission costs $ 24 $ 28 $ 74 $ 64 Purchased oil and gas costs 37 — 65 — $ 61 $ 28 $ 139 $ 64

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Other Current Liabilities	The following table provides detail of the Company’s other current liabilities: September 30, 2023 December 31, 2022 (In millions) Accrued operating expenses $ 156 $ 139 Accrued exploration and development 289 300 Accrued compensation and benefits 379 514 Accrued interest 65 96 Accrued income taxes 228 90 Current asset retirement obligation 55 55 Current operating lease liability 108 167 Current decommissioning contingency for sold Gulf of Mexico properties 225 450 Other 338 238 Total Other current liabilities $ 1,843 $ 2,049

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	9 Months Ended
	Sep. 30, 2023
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligation	The following table describes changes to the Company’s asset retirement obligation (ARO) liability: September 30, 2023 (In millions) Asset retirement obligation, December 31, 2022 $ 1,991 Liabilities incurred 12 Liabilities settled (34) Accretion expense 86 Asset retirement obligation, September 30, 2023 2,055 Less current portion (55) Asset retirement obligation, long-term $ 2,000

DEBT AND FINANCING COSTS (Table

DEBT AND FINANCING COSTS (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the carrying values of the Company’s debt: September 30, 2023 December 31, 2022 (In millions) Notes and debentures before unamortized discount and debt issuance costs (1) $ 4,835 $ 4,908 Finance lease obligations 33 34 Unamortized discount (26) (27) Debt issuance costs (26) (28) Total debt 4,816 4,887 Current maturities (2) (2) Long-term debt $ 4,814 $ 4,885 (1) The fair values of the Company’s notes and debentures were $4.1 billion and $4.2 billion as of September 30, 2023 and December 31, 2022, respectively. Apache uses a market approach to determine the fair values of its notes and debentures using estimates provided by an independent investment financial data services firm (a Level 2 fair value measurement).
Schedule of Financing Costs, Net	The following table presents the components of the Company’s financing costs, net: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Interest expense $ 71 $ 74 $ 220 $ 239 Amortization of debt issuance costs 1 1 2 7 Capitalized interest — — — (1) (Gain) loss on extinguishment of debt — — (9) 67 Interest income (2) (4) (7) (9) Interest income from APA Corporation, net ( Note 2 ) (30) (16) (75) (46) Financing costs, net $ 40 $ 55 $ 131 $ 257

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Financial Segment Information	Financial information for each segment is presented below: Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Quarter Ended September 30, 2023 (In millions) Revenues: Oil revenues $ 724 $ 348 $ 557 $ — $ — $ 1,629 Natural gas revenues 81 66 83 — — 230 Natural gas liquids revenues — 5 119 — — 124 Oil, natural gas, and natural gas liquids production revenues 805 419 759 — — 1,983 Purchased oil and gas sales — — 229 — — 229 805 419 988 — — 2,212 Operating Expenses: Lease operating expenses 128 102 151 — — 381 Gathering, processing, and transmission 13 15 55 — — 83 Purchased oil and gas costs — — 211 — — 211 Taxes other than income — — 56 — — 56 Exploration 25 9 4 — 1 39 Depreciation, depletion, and amortization 129 90 158 — — 377 Asset retirement obligation accretion — 20 9 — — 29 295 236 644 — 1 1,176 Operating Income (2) $ 510 $ 183 $ 344 $ — $ (1) 1,036 Other Income (Expense): Gain on divestitures, net 1 Other, net 7 General and administrative (132) Transaction, reorganization, and separation (5) Financing costs, net (40) Income Before Income Taxes $ 867 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Nine Months Ended September 30, 2023 (In millions) Revenues: Oil revenues $ 1,971 $ 865 $ 1,469 $ — $ — $ 4,305 Natural gas revenues 264 165 214 — — 643 Natural gas liquids revenues — 19 322 — — 341 Oil, natural gas, and natural gas liquids production revenues 2,235 1,049 2,005 — — 5,289 Purchased oil and gas sales — — 612 — — 612 2,235 1,049 2,617 — — 5,901 Operating Expenses: Lease operating expenses 346 278 423 — — 1,047 Gathering, processing, and transmission 26 38 167 — — 231 Purchased oil and gas costs — — 558 — — 558 Taxes other than income — — 153 — — 153 Exploration 91 18 10 — 1 120 Depreciation, depletion, and amortization 378 209 437 — — 1,024 Asset retirement obligation accretion — 57 29 — — 86 Impairments — 46 — — — 46 841 646 1,777 — 1 3,265 Operating Income (2) $ 1,394 $ 403 $ 840 $ — $ (1) 2,636 Other Income (Expense): Gain on divestitures, net 7 Other, net 84 General and administrative (256) Transaction, reorganization, and separation (11) Financing costs, net (131) Income Before Income Taxes $ 2,329 Total Assets (3) $ 3,518 $ 1,665 $ 9,616 $ — $ — $ 14,799 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Quarter Ended September 30, 2022 (In millions) Revenues: Oil revenues $ 739 $ 303 $ 565 $ — $ — $ 1,607 Natural gas revenues 84 44 285 — — 413 Natural gas liquids revenues — 5 183 — — 188 Oil, natural gas, and natural gas liquids production revenues 823 352 1,033 — — 2,208 Purchased oil and gas sales — — 585 — — 585 823 352 1,618 — — 2,793 Operating Expenses: Lease operating expenses 119 107 137 — — 363 Gathering, processing, and transmission 5 7 82 — — 94 Purchased oil and gas costs — — 573 — — 573 Taxes other than income — — 74 — — 74 Exploration 29 1 16 — — 46 Depreciation, depletion, and amortization 97 52 139 — — 288 Asset retirement obligation accretion — 21 8 — — 29 250 188 1,029 — — 1,467 Operating Income (2) $ 573 $ 164 $ 589 $ — $ — 1,326 Other Income (Expense): Derivative instrument losses, net (44) Gain on divestitures, net 31 Other, net (10) General and administrative (64) Transaction, reorganization, and separation (4) Financing costs, net (55) Income Before Income Taxes $ 1,180 Egypt (1) North Sea U.S. Altus Midstream Intersegment Eliminations & Other Total (4) Upstream For the Nine Months Ended September 30, 2022 (In millions) Revenues: Oil revenues $ 2,431 $ 938 $ 1,818 $ — $ — $ 5,187 Natural gas revenues 270 207 749 — — 1,226 Natural gas liquids revenues 6 33 604 — (3) 640 Oil, natural gas, and natural gas liquids production revenues 2,707 1,178 3,171 — (3) 7,053 Purchased oil and gas sales — — 1,451 5 — 1,456 Midstream service affiliate revenues — — — 16 (16) — 2,707 1,178 4,622 21 (19) 8,509 Operating Expenses: Lease operating expenses 381 321 365 — (1) 1,066 Gathering, processing, and transmission 15 31 236 5 (18) 269 Purchased oil and gas costs — — 1,452 — — 1,452 Taxes other than income — — 219 3 — 222 Exploration 56 8 21 — 1 86 Depreciation, depletion, and amortization 285 168 402 2 — 857 Asset retirement obligation accretion — 61 25 1 — 87 737 589 2,720 11 (18) 4,039 Operating Income (Loss) (2) $ 1,970 $ 589 $ 1,902 $ 10 $ (1) 4,470 Other Income (Expense): Derivative instrument losses, net (138) Gain on divestitures, net 1,180 Other, net 99 General and administrative (298) Transaction, reorganization, and separation (21) Financing costs, net (257) Income Before Income Taxes $ 5,035 Total Assets (3) $ 3,242 $ 2,185 $ 8,765 $ — $ — $ 14,192 (1) Includes oil and gas production revenue that will be paid as taxes by EGPC on behalf of the Company for the quarters and nine months ended September 30, 2023 and 2022 of: For the Quarter Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Oil $ 202 $ 227 $ 539 $ 779 Natural gas 23 26 73 87 Natural gas liquids — — — 2 (2) Operating income of U.S. and North Sea includes leasehold impairments of $2 million and $6 million, respectively, for the third quarter of 2023. (3) Intercompany balances are excluded from total assets. (4) Includes noncontrolling interests of Sinopec, Altus prior to deconsolidation, and APA.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Feb. 21, 2022
Schedule Of Significant Accounting Policies [Line Items]
Other asset impairment charges	$ 0		$ 0	$ 0	$ 0
Receivables from contracts with customer, net	$ 1,500,000,000			$ 1,500,000,000		$ 1,300,000,000
Inventory write-down		$ 46,000,000
Kinetik
Schedule Of Significant Accounting Policies [Line Items]
Ownership percentage by noncontrolling owners	10%			10%
Sinopec | Apache Egypt
Schedule Of Significant Accounting Policies [Line Items]
Ownership percentage by noncontrolling owners	33.33%			33.33%
Third-Party Investors | ALTM
Schedule Of Significant Accounting Policies [Line Items]
Ownership percentage by noncontrolling owners							21%

TRANSACTIONS WITH PARENT AFFI_2

TRANSACTIONS WITH PARENT AFFILIATE (Details)			1 Months Ended	3 Months Ended		9 Months Ended		30 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 01, 2021 subsidiary	May 15, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Aug. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Net income attributable to noncontrolling interest, distributed in cash						$ 154,000,000	$ 140,000,000
Capital distributions on note payable to APA Corporation, net						0
Payments of capital distribution							679,000,000
Noncontrolling interest – APA Corporation
Related Party Transaction [Line Items]
Net income attributable to noncontrolling interest				$ 96,000,000	$ 65,000,000	$ 261,000,000	221,000,000
Apache Egypt | Sinopec
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners				33.33%		33.33%
Net Income And Distributable Cash Flow For Egyptian Operations | Sinopec
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners				50%		50%
Affiliated Entity
Related Party Transaction [Line Items]
Reimbursable costs charged to Parent				$ 6,000,000	5,000,000	$ 17,000,000	14,000,000
Notes receivable principal outstanding				2,565,000,000		2,565,000,000			$ 1,415,000,000
Interest income				30,000,000	$ 16,000,000	75,000,000	$ 47,000,000
Receivables				46,000,000		46,000,000			0
Noncurrent receivable from APA Corporation				0		0			869,000,000
Affiliated Entity | Holding Company Reorganization
Related Party Transaction [Line Items]
Number of subsidiaries | subsidiary		3
Note receivable, term		7 years
Note receivable, interest rate		4.50%
Note receivable, accrued interest converted to principal, term		5 years 6 months
Accrued interest converted to principal								$ 158,000,000
Notes receivable principal outstanding				1,500,000,000		1,500,000,000			$ 1,400,000,000
Affiliated Entity | Senior Promissory Note Dated March 31, 2023
Related Party Transaction [Line Items]
Note receivable, term	5 years
Note receivable, interest rate	6%
Accrued interest converted to principal			$ 6,000,000
Notes receivable principal outstanding				$ 1,100,000,000		$ 1,100,000,000
Notes receivable, aggregate principal amount	$ 1,500,000,000

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Details) - USD ($) shares in Millions, $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 22, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Feb. 21, 2022
Business Acquisition [Line Items]
Oil and gas assets acquisitions consideration					$ 10	$ 30
Proceeds from sale of oil and gas properties					29	778
Gain on deconsolidation of ALTM	$ 609
Net effect of deconsolidating balance sheet	193
Equity method interests			$ 681		$ 681		$ 624
Kinetik
Business Acquisition [Line Items]
Equity method interests	$ 802
Shares sold (in shares)		4
Proceeds from sale of stock		$ 224
Loss on sale of stock		$ 25
Kinetik
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners			10%		10%
Apache Midstream LLC | ALTM
Business Acquisition [Line Items]
Ownership percentage by parent								79%
BCP Business Combination | ALTM | ALTM
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	20%
BCP Business Combination | BCP Business Combination Contributor | Kinetik
Business Acquisition [Line Items]
Ownership percentage by parent	75%
Common Class C | BCP Business Combination | ALTM
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, number of shares (in shares)	50
Disposed of by Sale | Non-Core Assets And Leasehold
Business Acquisition [Line Items]
Proceeds from sale of oil and gas properties			$ 1	$ 37	$ 29	52
Gain (loss) on sale of non-core assets			$ 1	34	7	36
Disposed of by Sale | Non-Core Mineral Rights
Business Acquisition [Line Items]
Proceeds from sale of oil and gas properties						726
Gain (loss) on sale of non-core assets						560
Permian Basin
Business Acquisition [Line Items]
Oil and gas assets acquisitions consideration				$ 3	$ 10	$ 30

CAPITALIZED EXPLORATORY WELL _2

CAPITALIZED EXPLORATORY WELL COSTS (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Extractive Industries [Abstract]
Capitalized exploratory well costs	$ 50	$ 50
Exploratory well costs capitalized for a period greater than one year		$ 5

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Activities Recorded in the Statement of Consolidated Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized losses, net			$ 0	$ (119)
Derivative instrument losses, net	$ 0	$ (44)	0	(138)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses, net	0	(8)	0	(19)
Unrealized losses, net	0	(36)	0	(119)
Derivative instrument losses, net	0	(44)	0	(138)
Commodity derivative instruments | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses, net	0	(2)	0	(11)
Unrealized losses, net	0	(35)	0	(79)
Foreign currency derivative instruments | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses, net	0	(6)	0	(8)
Unrealized losses, net	0	(1)	0	(9)
Preferred Units embedded derivative | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized losses, net	$ 0	$ 0	$ 0	$ (31)

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Inventories	$ 429	$ 425
Drilling advances	46	64
Prepaid assets and other	32	54
Current decommissioning security for sold Gulf of Mexico assets	373	450
Total Other current assets	$ 880	$ 993

EQUITY METHOD INTERESTS - Narra

EQUITY METHOD INTERESTS - Narrative (Details) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Mar. 31, 2022 USD ($) shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Jun. 30, 2022 shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Feb. 22, 2022 shares
Schedule of Equity Method Investments [Line Items]
Accounts payable		$ 640			$ 640		$ 646
Kinetik
Schedule of Equity Method Investments [Line Items]
Stock split, conversion ratio				2
Kinetik
Schedule of Equity Method Investments [Line Items]
Equity method investment, number of shares (in shares) | shares		20.2		17.7	20.2			12.9
Shares sold (in shares) | shares	4
Loss on sale of stock	$ 25
Dividends paid-in-kind (in shares) | shares					2.5
Interest percentage		14%			14%
Changes in fair value of equity method interest gains (losses)		$ (14)	$ (17)		$ 57	$ 49
Accounts payable		42			42
Receivables		$ 25			$ 25

EQUITY METHOD INTERESTS - Sales

EQUITY METHOD INTERESTS - Sales and Costs Associated with Equity Method Interest (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Kinetik
Schedule of Equity Method Investments [Line Items]
Sales		$ 38	$ 0	$ 74	$ 0
Costs		61	28	139	64
Natural gas and NGLs sales | Kinetik
Schedule of Equity Method Investments [Line Items]
Sales		27	0	56	0
Gathering, processing, and transmission costs
Schedule of Equity Method Investments [Line Items]
Costs	[1]	83	94	231	269
Gathering, processing, and transmission costs | Kinetik
Schedule of Equity Method Investments [Line Items]
Costs		24	28	74	64
Purchased oil and gas sales
Schedule of Equity Method Investments [Line Items]
Costs	[1]	211	573	558	1,452
Purchased oil and gas sales | Kinetik
Schedule of Equity Method Investments [Line Items]
Sales		11	0	18	0
Costs		$ 37	$ 0	$ 65	$ 0
[1]For transactions associated with Kinetik, refer to Note 7—Equity Method Interests for further detail.

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued operating expenses	$ 156	$ 139
Accrued exploration and development	289	300
Accrued compensation and benefits	379	514
Accrued interest	65	96
Accrued income taxes	228	90
Current asset retirement obligation	55	55
Current operating lease liability	108	167
Current decommissioning contingency for sold Gulf of Mexico properties	225	450
Other	338	238
Total Other current liabilities	$ 1,843	$ 2,049

ASSET RETIREMENT OBLIGATION (De

ASSET RETIREMENT OBLIGATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligation at the beginning of period			$ 1,991
Liabilities incurred			12
Liabilities settled			(34)
Accretion expense	$ 29	$ 29	86	$ 87
Asset retirement obligation at the end of period	2,055		2,055
Less current portion	(55)		(55)		$ (55)
Asset retirement obligation, long-term	$ 2,000		$ 2,000		$ 1,936

DEBT AND FINANCING COSTS - Sche

DEBT AND FINANCING COSTS - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Finance lease obligations	$ 33	$ 34
Unamortized discount	(26)	(27)
Debt issuance costs	(26)	(28)
Total debt	4,816	4,887
Current maturities	(2)	(2)
Long-term debt	4,814	4,885
Apache notes and debentures
Debt Instrument [Line Items]
Debt instrument, fair value	4,100	4,200
Apache notes and debentures | Unsecured Debt
Debt Instrument [Line Items]
Notes and debentures before unamortized discount and debt issuance costs	$ 4,835	$ 4,908

DEBT AND FINANCING COSTS - Addi

DEBT AND FINANCING COSTS - Additional Information (Details)			3 Months Ended		9 Months Ended
	Apr. 29, 2022 USD ($) credit_agreement guaranty_of_obligation option	Jan. 18, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 GBP (£)	Apr. 29, 2022 GBP (£) credit_agreement guaranty_of_obligation
Debt Instrument [Line Items]
Finance lease obligations, current			$ 2,000,000		$ 2,000,000			$ 2,000,000
Gain (loss) on extinguishment of debt			0	$ 0	9,000,000	$ (67,000,000)
Number of unsecured guaranties of obligations | guaranty_of_obligation	2									2
APA Corp
Debt Instrument [Line Items]
Number of credit agreements | credit_agreement	2									2
USD Agreement | Line of Credit
Debt Instrument [Line Items]
Debt instrument term	5 years
Line of credit facility, committed amount	$ 1,800,000,000
Line of credit facility, increased committed amount	$ 2,300,000,000
Line of credit facility, number of extension options | option	2
Debt extension term	1 year
Debt face amount	$ 300,000,000
Outstanding borrowings			0		0			0
USD Agreement | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	750,000,000
Line of credit facility, current borrowing capacity	$ 150,000,000
GBP Agreement | Line of Credit
Debt Instrument [Line Items]
Debt instrument term	5 years
Line of credit facility, committed amount | £										£ 1,500,000,000
Debt extension term	1 year
GBP Agreement | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, number of extension options | option	2
Former Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, terminated amount	$ 4,000,000,000
Line of credit facility, covenant benchmark amount	$ 1,000,000,000
Apache credit facility
Debt Instrument [Line Items]
Outstanding borrowings			0		0			0
Letters of credit outstanding, amount			3,000,000		3,000,000		£ 185,000,000	$ 17,000,000	£ 199,000,000
Senior Notes
Debt Instrument [Line Items]
Debt repurchased principal amount			74,000,000		74,000,000
Debt repurchase price			$ 65,000,000		65,000,000
Premium (discount) to par of debt repurchase					(10,000,000)
Gain (loss) on extinguishment of debt					$ 9,000,000
Senior Notes | 3.25% notes due 2022
Debt Instrument [Line Items]
Current maturities		$ 213,000,000
Debt interest rate		3.25%
Redemption price, percentage of principal amount redeemed		100%
Senior Notes | Cash Tender Offers
Debt Instrument [Line Items]
Debt repurchased principal amount				1,100,000,000		1,100,000,000
Debt repurchase price				1,200,000,000		1,200,000,000
Gain (loss) on extinguishment of debt						(66,000,000)
Debt instrument, unamortized discount and issuance costs				11,000,000		11,000,000
Senior Notes | Open Market Repurchase
Debt Instrument [Line Items]
Debt repurchased principal amount				15,000,000		15,000,000
Debt repurchase price				$ 16,000,000		16,000,000
Premium (discount) to par of debt repurchase						1,000,000
Gain (loss) on extinguishment of debt						$ (1,000,000)

DEBT AND FINANCING COSTS - Comp

DEBT AND FINANCING COSTS - Components of Financing Costs, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Interest expense	$ 71	$ 74	$ 220	$ 239
Amortization of debt issuance costs	1	1	2	7
Capitalized interest	0	0	0	(1)
(Gain) loss on extinguishment of debt	0	0	(9)	67
Interest income	(2)	(4)	(7)	(9)
Interest income from APA Corporation, net (Note 2)	(30)	(16)	(75)	(46)
Financing costs, net	$ 40	$ 55	$ 131	$ 257

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Foreign Tax Authority
Deferred Tax Expense [Line Items]
Deferred tax expense, remeasurement of deferred tax liability	$ 174

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions

9 Months Ended

12 Months Ended

Sep. 10, 2020 defendant

Sep. 11, 2019 USD ($) plaintiff

Dec. 20, 2017 action

Jul. 17, 2017 defendant action

Mar. 21, 2016 USD ($)

Mar. 20, 2016 USD ($)

Sep. 30, 2023 USD ($) letter_of_credit bond

Dec. 31, 2013 USD ($) profit_interest

Jul. 21, 2023 surety

Dec. 31, 2022 USD ($)

Apr. 05, 2022 letter

Dec. 31, 2017 AUD ($)

Apr. 30, 2017 AUD ($)

Mar. 12, 2014 USD ($)

Commitment And Contingencies [Line Items]

Accrued liability for legal contingencies

$ 49,000,000

Environmental tax and royalty obligations

$ 100,000,000

Retain right of obligations

45,000,000

Undiscounted reserve for environmental remediation

5,000,000

Decommissioning costs incurred

692,000,000

Decommissioning costs reimbursed amount from trust

288,000,000

Decommissioning costs reimbursed from letters of credit

87,000,000

Standby loan agreed to provide related to ARO (up to)

400,000,000

Current decommissioning contingency for sold Gulf of Mexico properties

695,000,000

Decommissioning contingency for sold Gulf of Mexico properties, total

470,000,000

$ 738,000,000

Current decommissioning contingency for sold Gulf of Mexico properties

225,000,000

450,000,000

Decommissioning security for sold properties

411,000,000

Trust account for disposal group, number of net profits interests

38,000,000

$ 217,000,000

Current decommissioning security for sold Gulf of Mexico assets

$ 373,000,000

Number of plaintiff, sureties issued bonds directly | surety

2

Number of plaintiff, sureties issued bonds to issuing bank | surety

2

Gulf Of Mexico Shelf Operations and Properties | Disposed of by Sale

Commitment And Contingencies [Line Items]

Proceeds from sale of operations and properties

$ 3,750,000,000

Trust account for disposal group, number of net profits interests | profit_interest

2

Number of bonds held | bond

2

Number of debt instruments held | letter_of_credit

5

Number of prior letters notifying unable to fund decommissioning obligations | letter

2

Minimum

Commitment And Contingencies [Line Items]

Asset retirement obligation, estimated liability

$ 695,000,000

Maximum

Commitment And Contingencies [Line Items]

Asset retirement obligation, estimated liability

895,000,000

Apollo Exploration Lawsuit

Commitment And Contingencies [Line Items]

Plaintiffs alleged damages

$ 200,000,000

Apollo Exploration Lawsuit | Minimum

Commitment And Contingencies [Line Items]

Plaintiffs alleged damages

$ 1,100,000,000

Australian Operations Divestiture Dispute | Apache Australia Operation

Commitment And Contingencies [Line Items]

Gain contingency, unrecorded amount

$ 80

Loss contingency, estimated of possible loss amount

$ 200

Canadian Operations Divestiture Dispute

Commitment And Contingencies [Line Items]

Plaintiffs alleged damages

$ 60,000,000

Number of plaintiffs | plaintiff

4

Litigation settlement, amount

$ 7,000,000

California Litigation

Commitment And Contingencies [Line Items]

Number of actions filed | action

2

3

Number of defendants | defendant

30

Delaware Litigation

Commitment And Contingencies [Line Items]

Number of defendants | defendant

25

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	3

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Financial Segment Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Operating Expenses:
Lease operating expenses		$ 381	$ 363	$ 1,047	$ 1,066
Taxes other than income		56	74	153	222
Exploration		39	46	120	86
Depreciation, depletion, and amortization		377	288	1,024	857
Asset retirement obligation accretion		29	29	86	87
Impairments		0	0	46	0
Total operating expenses		1,176	1,467	3,265	4,039
Operating Income (Loss)		1,036	1,326	2,636	4,470
Other Income (Expense):
Derivative instrument losses, net		0	(44)	0	(138)
Gain on divestitures, net		1	31	7	1,180
Other, net		7	(10)	84	99
General and administrative		(132)	(64)	(256)	(298)
Transaction, reorganization, and separation		(5)	(4)	(11)	(21)
Financing costs, net		(40)	(55)	(131)	(257)
NET INCOME BEFORE INCOME TAXES		867	1,180	2,329	5,035
Total assets		14,799	14,192	14,799	14,192	$ 14,255
Operating Segments | Egypt
Operating Expenses:
Lease operating expenses		128	119	346	381
Taxes other than income		0	0	0	0
Exploration		25	29	91	56
Depreciation, depletion, and amortization		129	97	378	285
Asset retirement obligation accretion		0	0	0	0
Impairments				0
Total operating expenses		295	250	841	737
Operating Income (Loss)		510	573	1,394	1,970
Other Income (Expense):
Total assets		3,518	3,242	3,518	3,242
Impairments of oil and gas properties			1		3
Operating Segments | North Sea
Operating Expenses:
Lease operating expenses		102	107	278	321
Taxes other than income		0	0	0	0
Exploration		9	1	18	8
Depreciation, depletion, and amortization		90	52	209	168
Asset retirement obligation accretion		20	21	57	61
Impairments				46
Total operating expenses		236	188	646	589
Operating Income (Loss)		183	164	403	589
Other Income (Expense):
Total assets		1,665	2,185	1,665	2,185
Impairments of oil and gas properties		6		12
Operating Segments | U.S.
Operating Expenses:
Lease operating expenses		151	137	423	365
Taxes other than income		56	74	153	219
Exploration		4	16	10	21
Depreciation, depletion, and amortization		158	139	437	402
Asset retirement obligation accretion		9	8	29	25
Impairments				0
Total operating expenses		644	1,029	1,777	2,720
Operating Income (Loss)		344	589	840	1,902
Other Income (Expense):
Total assets		9,616	8,765	9,616	8,765
Impairments of oil and gas properties		2	15	7	19
Reportable Legal Entities | Altus Midstream
Operating Expenses:
Lease operating expenses		0	0	0	0
Taxes other than income		0	0	0	3
Exploration		0	0	0	0
Depreciation, depletion, and amortization		0	0	0	2
Asset retirement obligation accretion		0	0	0	1
Impairments				0
Total operating expenses		0	0	0	11
Operating Income (Loss)		0	0	0	10
Other Income (Expense):
Total assets		0	0	0	0
Intersegment Eliminations & Other
Operating Expenses:
Lease operating expenses		0	0	0	(1)
Taxes other than income		0	0	0	0
Exploration		1	0	1	1
Depreciation, depletion, and amortization		0	0	0	0
Asset retirement obligation accretion		0	0	0	0
Impairments				0
Total operating expenses		1	0	1	(18)
Operating Income (Loss)		(1)	0	(1)	(1)
Other Income (Expense):
Total assets		0	0	0	0
Oil and gas
Segment Reporting Information [Line Items]
Revenues		2,212	2,793	5,901	8,509
Oil and gas | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Revenues		805	823	2,235	2,707
Oil and gas | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Revenues		419	352	1,049	1,178
Oil and gas | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Revenues		988	1,618	2,617	4,622
Oil and gas | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Revenues		0	0	0	21
Oil and gas | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Revenues		0	0	0	(19)
Gathering, processing, and transmission costs
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues	[1]	1,983	2,208	5,289	7,053
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs	[1]	83	94	231	269
Gathering, processing, and transmission costs | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		805	823	2,235	2,707
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		13	5	26	15
Gathering, processing, and transmission costs | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		419	352	1,049	1,178
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		15	7	38	31
Gathering, processing, and transmission costs | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		759	1,033	2,005	3,171
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		55	82	167	236
Gathering, processing, and transmission costs | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	5
Gathering, processing, and transmission costs | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	(3)
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	(18)
Purchased oil and gas sales
Segment Reporting Information [Line Items]
Purchased oil and gas sales	[1]	229	585	612	1,456
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs	[1]	211	573	558	1,452
Purchased oil and gas sales | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Purchased oil and gas sales		0	0	0	0
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	0
Purchased oil and gas sales | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Purchased oil and gas sales		0	0	0	0
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	0
Purchased oil and gas sales | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Purchased oil and gas sales		229	585	612	1,451
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		211	573	558	1,452
Purchased oil and gas sales | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Purchased oil and gas sales		0	0	0	5
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	0
Purchased oil and gas sales | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Purchased oil and gas sales		0	0	0	0
Operating Expenses:
Gathering, processing, and transmission/Purchased oil and gas costs		0	0	0	0
Midstream service affiliate revenues | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Purchased oil and gas sales					16
Midstream service affiliate revenues | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Purchased oil and gas sales					(16)
Oil revenues
Other Income (Expense):
Revenue from non-customers		202	227	539	779
Oil revenues | Gathering, processing, and transmission costs
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		1,629	1,607	4,305	5,187
Oil revenues | Gathering, processing, and transmission costs | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		724	739	1,971	2,431
Oil revenues | Gathering, processing, and transmission costs | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		348	303	865	938
Oil revenues | Gathering, processing, and transmission costs | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		557	565	1,469	1,818
Oil revenues | Gathering, processing, and transmission costs | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Oil revenues | Gathering, processing, and transmission costs | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Natural gas revenues
Other Income (Expense):
Revenue from non-customers		23	26	73	87
Natural gas revenues | Gathering, processing, and transmission costs
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		230	413	643	1,226
Natural gas revenues | Gathering, processing, and transmission costs | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		81	84	264	270
Natural gas revenues | Gathering, processing, and transmission costs | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		66	44	165	207
Natural gas revenues | Gathering, processing, and transmission costs | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		83	285	214	749
Natural gas revenues | Gathering, processing, and transmission costs | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Natural gas revenues | Gathering, processing, and transmission costs | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Natural gas liquids revenues
Other Income (Expense):
Revenue from non-customers		0	0	0	2
Natural gas liquids revenues | Gathering, processing, and transmission costs
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		124	188	341	640
Natural gas liquids revenues | Gathering, processing, and transmission costs | Operating Segments | Egypt
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	6
Natural gas liquids revenues | Gathering, processing, and transmission costs | Operating Segments | North Sea
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		5	5	19	33
Natural gas liquids revenues | Gathering, processing, and transmission costs | Operating Segments | U.S.
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		119	183	322	604
Natural gas liquids revenues | Gathering, processing, and transmission costs | Reportable Legal Entities | Altus Midstream
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		0	0	0	0
Natural gas liquids revenues | Gathering, processing, and transmission costs | Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Oil, natural gas, and natural gas liquids production revenues		$ 0	$ 0	$ 0	$ (3)
[1]For transactions associated with Kinetik, refer to Note 7—Equity Method Interests for further detail.