APACHE CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share data)
EXHIBIT 11.1
For the Quarter Ended For the Nine Months Ended
September 30, September 30,
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1995 1994 1995 1994
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Weighted Average Calculation:
Net income $ 7,042 $ 12,389 $ 11,662 $ 33,521
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Weighted average common
shares outstanding 70,728 69,694 70,074 69,699
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Net income per share,
based on weighted average
common shares outstanding $ .10 $ .18 $ .17 $ .48
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Primary Calculation:
Net income $ 7,042 $12,389 $ 11,662 $ 33,521
Assumed conversion of
3.93-percent debentures 540 531 1,623 1,593
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Net income, as adjusted $ 7,582 $12,920 $ 13,285 $ 35,114
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Common Stock Equivalents:
Weighted average common shares
outstanding 70,728 69,694 70,074 69,699
Stock options, using the
treasury stock method
of accounting 99 112 99 112
Assumed conversion of
3.93-percent debentures 2,778 2,778 2,778 2,778
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73,605 72,584 72,951 72,589
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Net income per common
share primary $ .10 $ .18 $ .18 $ .48
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The assumed conversion of the 6-percent convertible subordinated
debentures due 2002 would be anti-dilutive for the third quarter
and first nine months of 1995.