UP!

APA $11.94   View long term graphs

Apache Corporation
Type
Public
Traded as
  • NYSE: APA
  • S&P 500 component
Industry Petroleum industry
Founded 1954; 63 years ago (1954)
Founder Truman Anderson
Charles Arnao
Raymond Plank
Headquarters Houston, Texas
Key people
John J. Christmann IV, CEO
Products Petroleum
Natural gas
Production output
522 thousand barrels of oil equivalent (3,190,000 GJ) per day
Revenue Decrease $5.367 billion (2016)
Net income
Increase −$1.372 billion (2016)
Total assets Decrease $22.519 billion (2016)
Total equity Decrease $7.679 billion (2016)
Number of employees
3,727 (2016)
Website apachecorp.com

Apache Corporation is an American petroleum and natural gas exploration and production company headquartered in Houston, Texas. The company is on the Fortune 500.

In 2016, the company's total production was 521 thousand barrels of oil equivalent (3,190,000 GJ) per day, of which 43% was in the United States, 11% was in Canada, 33% was in Egypt, and 13% was in the North Sea.

As of December 31, 2016, the company had 1.311 billion barrels of oil equivalent (8.02×10 GJ) of estimated proved reserves, of which 56% was in the United States, 13% was in Canada, 21% was in Egypt, and 9% was in the North Sea.

Almost all of the company's reserves in the United States are in the Permian Basin. The company also has reserves in western Oklahoma, the Texas Panhandle, and south Texas.

The company has been operating in remote areas of the Libyan Desert in Egypt since 1994 and has not experienced disruptions from political turmoil.

The company has been operating in the North Sea since 2003, predominately in the Forties oilfield.

In 1954, the Apache Oil Corporation was founded in Minneapolis, Minnesota, by Truman Anderson, Raymond Plank and Charles Arnao with $250,000 in funding.

In 1955, the first wells were drilled in the Cushing field, between Tulsa and Oklahoma City.

In 1960, the company acquired interests in the Foshay Tower, a Minneapolis landmark. The 32-story imitation of the Washington Monument, became Apache's headquarters from the early 1960s until 1984.

In 1967, the oil well Fagerness #1 was drilled, yielding the company's first major discovery.

In 1969, the company became a public company via an initial public offering.

In 1970, the company diversified into agriculture with the acquisition of the S&J Ranch in California. The ranch produced citrus fruit, figs, pistachios, olives, and almonds.

In 1971, the company formed Apache Exploration Company (subsequently "Apexco") as its oil and gas operating company.

In 1977, the company sold Apexco and its non-petroleum holdings, including the ranch, and reinvested into a farm-in agreement with GHK to operate its wells in the Anadarko Basin.

In 1980, the company acquired a non-operating interest, via a participation in a Royal Dutch Shell joint venture, in operations in the Gulf Of Mexico.

In 1981, the company created Apache Petroleum Company (APC), the first public master limited partnership in the United States.

In 1985, the company acquired oil and gas wells in 8 states from David Holdings for $200 million. In 1986, the company acquired oil and gas assets in the Gulf of Mexico from Occidental Petroleum.

In 1987, the company moved its headquarters from Minneapolis to Denver.

In 1991, the company doubled its reserves by acquiring assets from Amoco, including a position in the Permian Basin of West Texas, for $515 million and 2 million shares of Apache.

In 1992, the company moved its headquarters to Houston, Texas and signed a lease for 220,000 square feet of office space.

In 1993, the company acquired Hadson Energy Resources in a $58 million transaction, expanding its assets to offshore Western Australia.

In 1994, the company began operations in Egypt by acquiring a 25 percent non-operated interest in the Qarun Concession, operated by the Phoenix Resource Companies. Production began in December 1995.

In 1995, the company acquired Dekalb Energy Canada, marking Apache's return to Canada, in a $285 million stock transaction.

In 1995, the company also acquired 315 oil and gas fields in the Permian Basin, the Texas-Louisiana Gulf Coast, western Oklahoma, East Texas, the Rocky Mountains and the Gulf of Mexico from Texaco.

In 1996, the company acquired Phoenix Resources and took over operations of the Qarun Concession in Egypt.

In 1999, the company acquired fields and leases in the Gulf of Mexico from Royal Dutch Shell for $715 million in cash, plus 1 million shares of stock.

In 2001, the company acquired operations in the Libyan Desert of Egypt from Repsol YPF for $410 million.

In 2002, the company drilled its first deepwater wells in the West Mediterranean Concession of offshore Egypt.

In 2003, the company acquired the Forties oilfield, the largest field ever discovered in the United Kingdom North Sea as well as assets in the Gulf of Mexico from BP for $1.3 billion.

In May 2005, Apache and ExxonMobil completed a series of agreements that provided for transfers and joint ventures across a broad range of properties in Western Canada.

In October 2005, the company partially sold its stake in the deepwater section of Egypt's concession.

In April 2006, the company acquired Gulf of Mexico Shelf properties from BP.

In June 2006, the company sold its oil production interest in China to Australia-based ROC Oil Company Limited for US$260 million.

In 2007, A test horizontal well at the Van Gogh project, in Exmouth Gulf, Western Australia, produced 9,694 barrels per day.

In February 2010, the company started production from the Van Gogh development offshore Western Australia.

In March 2010, a Federal judge upheld the company's decision to exclude from its annual meeting ballot a corporate governance proposal from a person who had not proven on a timely basis that he actually was one of the company's shareholders.

In June 2010, the company acquired assets in the Gulf of Mexico from Devon Energy for $1.05 billion.

In July 2010, the company acquired assets from BP in Texas, southeast New Mexico, western Canada, and Egypt for $7 billion.

In November 2010, the company acquired Mariner Energy for $2.7 billion.

In 2011, the company discovered eight oil wells in Egypt's Faghur Basin.

In January 2012, the company acquired assets in the Beryl field in the North Sea from ExxonMobil.

In May 2012, the company acquired Cordillera Energy Partners for $2.5 billion in cash and 6.3 million shares of common stock. The acquisition added approximately 71 million barrels of oil equivalent (430,000,000 GJ) to Apache's reserves and strengthened its position across western Oklahoma and the Texas Panhandle.

In November 2013, the company sold a non-controlling 1/3 share of its Egyptian assets to Sinopec

In 2015, the company sold its assets in Western Australia for $2.1 billion.

In 2016, the company sold its interest in the Scottish Area Gas Evacuation pipeline.

In 2017, the company sold its assets in Canada to Paramount Resources for C$459.5 million.

On June 1, 2013 an Apache pipeline in northern Alberta, Canada was noticed to have ruptured, spilling 60,000 barrels (9.5 million litres) of toxic waste in what was cited as one of the largest of such disasters in recent history in North America.

In June 2008, the natural gas pipeline explosion at Apache's processing hub on Varanus Island led to the 2008 Western Australian gas crisis. The Australian government was forced to drop charges as a result of a technicality.

In 2007, Apache CEO G. Steven Farris wrote to the U.S. Securities and Exchange Commission in favor of limits on nonbinding shareholder proposals at public company annual meetings.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-24 Future report Set alerts
Q3 2020 2020-10-28 Future report Set alerts
Q2 2020 2020-07-29 -0.74 -1.02
Q1 2020 2020-05-06 -0.13 -11.86
Q4 2019 2020-02-26 0.08 -7.89
Q3 2019 2019-10-30 -0.29 -0.45
Q2 2019 2019-07-31 0.11 -0.96
Q1 2019 2019-05-01 0.10 -0.12
Q4 2018 2019-02-27 0.31 -1.00
Q3 2018 2018-10-31 0.63 0.21

Ratings

2016-06-22 Initiated Coverage Credit Agricole Underperform
2016-06-22 Initiated Coverage Credit Agricole SA Underperform
2016-05-26 Boost Price Target Iberia Capital Sector Perform $53.00 to $60.00
2016-05-16 Upgrade Scotiabank Sector Perform to Sector Outperform $46.00 to $66.00
2016-05-16 Reiterated Rating Sanford C. Bernstein Outperform
2016-05-16 Upgrade Howard Weil Sector Perform to Outperform
2016-05-09 Reiterated Rating Goldman Sachs Neutral $53.00
2016-05-09 Reiterated Rating Goldman Sachs Group Inc. Neutral $53.00
2016-05-08 Reiterated Rating RBC Capital Hold
2016-05-08 Reiterated Rating Royal Bank Of Canada Hold
2016-05-06 Boost Price Target RBC Capital Sector Perform $54.00 to $56.00
2016-05-06 Reiterated Rating Credit Suisse Hold $60.00
2016-05-06 Reiterated Rating Credit Suisse Group AG Hold $60.00
2016-04-10 Reiterated Rating Wells Fargo Buy $65.00
2016-04-10 Reiterated Rating Wells Fargo & Co. Buy $65.00
2016-04-08 Upgrade Wells Fargo Market Perform to Outperform $32.30 to $47.23
2016-04-07 Boost Price Target Citigroup Inc. Buy $54.00 to $55.00
2016-03-29 Boost Price Target Deutsche Bank Hold $50.00 to $53.00
2016-03-29 Boost Price Target Deutsche Bank AG Hold $50.00 to $53.00
2016-03-23 Downgrade Capital One Financial Corp. Overweight to Equal Weight
2016-03-18 Initiated Coverage RBC Capital Sector Perform $52.00
2016-03-10 Lower Price Target Sanford C. Bernstein Outperform $57.00 to $55.00
2016-03-02 Boost Price Target Jefferies Group Underperform $32.00
2016-03-01 Reiterated Rating Credit Suisse Neutral $41.00 to $46.00
2016-02-08 Reiterated Rating Sanford C. Bernstein Outperform
2016-02-02 Lower Price Target JPMorgan Chase & Co. Neutral $47.00 to $43.00
2016-02-01 Lower Price Target Jefferies Group Underperform $30.00
2016-01-28 Lower Price Target Barclays Overweight $46.00 to $43.00
2016-01-28 Lower Price Target Barclays PLC Overweight $46.00 to $43.00
2016-01-21 Lower Price Target Nomura RR $46.00 to $33.00
2016-01-21 Lower Price Target Nomura Holdings Inc. RR $46.00 to $33.00
2016-01-19 Lower Price Target KLR Group $73.00 to $66.00
2016-01-05 Lower Price Target Citigroup Inc. Buy $60.00 to $54.00
2016-01-05 Downgrade Bank of America Neutral to Underperform $54.00
2016-01-05 Downgrade Bank of America Corp. Neutral to Underperform $54.00
2015-12-15 Downgrade Argus Buy to Hold
2015-12-14 Reiterated Rating Oppenheimer Outperform $57.00
2015-12-14 Reiterated Rating Oppenheimer Holdings Inc. Outperform $57.00
2015-12-10 Reiterated Rating JPMorgan Chase & Co. Hold
2015-12-09 Initiated Coverage JPMorgan Chase & Co. Neutral $47.00
2015-12-08 Boost Price Target Barclays Overweight $53.00 to $54.00
2015-12-02 Boost Price Target Jefferies Group Underperform $39.00 to $43.00
2015-11-18 Boost Price Target Credit Suisse Neutral $56.00 to $57.00
2015-11-12 Boost Price Target Credit Suisse Neutral $47.00 to $56.00
2015-11-10 Reiterated Rating RBC Capital Buy $60.00 to $62.00
2015-11-10 Boost Price Target BMO Capital Markets Market Perform $50.00 to $55.00
2015-11-06 Downgrade Tudor Pickering Accumulate to Hold $69.00
2015-11-06 Boost Price Target RBC Capital Outperform $59.00 to $60.00
2015-10-21 Reiterated Rating Barclays Overweight $49.00 to $53.00
2015-10-19 Lower Price Target Seaport Global Securities $53.00 to $50.00
2015-10-15 Lower Price Target KLR Group $84.00 to $71.00
2015-09-29 Upgrade Simmons Neutral to Overweight
2015-09-23 Reiterated Rating Oppenheimer Outperform $57.00
2015-09-15 Lower Price Target Cowen and Company Market Perform $72.00 to $49.00
2015-09-15 Lower Price Target Argus Buy $79.00 to $65.00
2015-09-14 Reiterated Rating Citigroup Inc. Buy $62.00 to $60.00
2015-09-09 Upgrade Capital One Financial Corp. Equal Weight to Overweight $63.00
2015-09-08 Reiterated Rating Barclays Overweight $55.00 to $49.00
2015-09-04 Lower Price Target BMO Capital Markets Market Perform $65.00 to $50.00
2015-09-01 Reiterated Rating Raymond James Buy
2015-09-01 Reiterated Rating Raymond James Financial Inc. Buy
2015-08-31 Lower Price Target Raymond James Outperform $63.00 to $60.00
2015-08-24 Lower Price Target Bank of America Neutral $85.00 to $57.00
2015-08-19 Boost Price Target Capital One Financial Corp. $66.00 to $67.00
2015-08-10 Lower Price Target Barclays Overweight $58.00 to $55.00
2015-08-07 Reiterated Rating Credit Suisse Neutral $58.00 to $62.00
2015-08-07 Reiterated Rating S&P Equity Research Buy $56.00
2015-08-07 Reiterated Rating RBC Capital Outperform $77.00 to $72.00
2015-07-22 Initiated Coverage Credit Suisse Neutral
2015-07-21 Lower Price Target Global Hunter Securities Neutral $69.00 to $57.00
2015-07-21 Lower Price Target Seaport Global Securities Neutral $69.00 to $57.00
2015-07-17 Upgrade Citigroup Inc. Neutral to Buy $68.00 to $62.00
2015-07-13 Reiterated Rating Barclays Buy $59.00 to $58.00
2015-07-07 Lower Price Target Jefferies Group Outperform $50.00
2015-06-08 Initiated Coverage Goldman Sachs Buy $53.00
2015-06-02 Initiated Coverage Evercore Partners Inc. Hold $72.00
2015-06-01 Initiated Coverage Evercore ISI Hold $72.00
2015-06-01 Reiterated Rating Deutsche Bank Hold $69.00 to $60.00
2015-05-19 Reiterated Rating Goldman Sachs Neutral $67.00 to $63.00
2015-05-08 Lower Price Target RBC Capital Outperform $82.00 to $77.00
2015-04-27 Initiated Coverage Cowen and Company Market Perform $72.00
2015-04-24 Boost Price Target Jefferies Group Underweight $53.00 to $59.00
2015-04-22 Initiated Coverage Nomura Reduce $63.00
2015-04-08 Initiated Coverage BMO Capital Markets Market Perform $70.00
2015-03-24 Lower Price Target Citigroup Inc. Buy $74.00 to $60.00
2015-03-23 Downgrade Citigroup Inc. Buy to Neutral
2015-03-04 Lower Price Target Argus Buy $112.00 to $79.00
2015-02-13 Lower Price Target Imperial Capital Outperform $82.00 to $79.00
2015-02-13 Upgrade Bank of America Underperform to Neutral $57.00 to $78.00
2015-02-06 Initiated Coverage Jefferies Group Underperform
2015-02-05 Initiated Coverage GMP Securities Hold
2015-02-02 Lower Price Target Howard Weil Sector Perform $76.00 to $61.00
2015-01-30 Lower Price Target Deutsche Bank Hold $79.00 to $69.00
2015-01-14 Lower Price Target Barclays Overweight $67.00 to $61.00
2014-12-17 Lower Price Target RBC Capital Outperform $97.00 to $85.00
2014-12-16 Lower Price Target Barclays Overweight $97.00 to $67.00
2014-12-09 Lower Price Target Imperial Capital Outperform $92.00 to $82.00
2014-12-08 Upgrade Citigroup Inc. Neutral to Buy $110.00 to $74.00
2014-12-05 Lower Price Target JPMorgan Chase & Co. Neutral $86.00 to $67.00
2014-12-05 Downgrade Bank of America Neutral to Underperform
2014-12-02 Downgrade Mizuho Buy to Neutral $90.00 to $70.00
2014-12-01 Downgrade Wolfe Research Market Perform to Underperform
2014-11-25 Lower Price Target Oppenheimer Outperform $120.00 to $100.00
2014-11-24 Lower Price Target Barclays Overweight $101.00 to $97.00
2014-11-21 Lower Price Target Mizuho Buy $100.00 to $90.00
2014-11-20 Initiated Imperial Capital Outperform $92
2014-11-19 Initiated Coverage Imperial Capital Outperform $92.00
2014-11-07 Lower Price Target RBC Capital Outperform $110.00 to $97.00
2014-10-20 Reiterated Rating Morgan Stanley Equal Weight $100.00 to $95.00
2014-10-09 Reiterated Rating Barclays Overweight $130.00 to $113.00
2014-09-24 Initiated Coverage Wolfe Research Peerperform
2014-09-19 Lower Price Target Argus Buy $118.00 to $112.00
2014-09-08 Lower Price Target Raymond James $123.00 to $116.00
2014-08-20 Upgrade Alembic Global Advisors Neutral to Overweight $118.00
2014-08-04 Reiterated Rating Citigroup Inc. Neutral $90.00 to $110.00
2014-07-23 Reiterated RBC Capital Mkts Outperform $102 to $110
2014-07-23 Reiterated Rating JPMorgan Chase & Co. Neutral $94.00 to $108.00
2014-07-23 Boost Price Target RBC Capital Outperform $102.00 to $110.00
2014-07-18 Reiterated Rating Deutsche Bank Hold $100.00 to $108.00
2014-07-10 Boost Price Target Howard Weil Sector Perform $92.00 to $97.00
2014-07-10 Boost Price Target Barclays Overweight $113.00 to $130.00
2014-06-12 Boost Price Target Argus Positive to Buy $103.00 to $118.00
2014-06-11 Reiterated Rating Deutsche Bank Hold $91.00 to $100.00
2014-06-06 Downgrade Wells Fargo & Co. Outperform to Market Perform
2014-06-06 Downgrade Wells Fargo Outperform to Market Perform
2014-05-27 Boost Price Target Raymond James $100.00 to $115.00
2014-05-13 Initiated Coverage JPMorgan Chase & Co. Neutral $94.00
2014-05-12 Boost Price Target KLR Group $6.00 to $121.00
2014-05-09 Reiterated RBC Capital Mkts Outperform $99 to $102
2014-05-09 Boost Price Target RBC Capital Outperform $99.00 to $102.00
2014-04-23 Boost Price Target Guggenheim Neutral $83.00 to $92.00
2014-04-22 Lower Price Target Barclays Overweight $115.00 to $113.00
2014-04-09 Downgrade Deutsche Bank Buy to Hold $91.00
2014-04-01 Boost Price Target Deutsche Bank $90.00 to $91.00
2014-03-31 Initiated Coverage KLR Group Buy $119.00
2014-03-10 Boost Price Target Argus Buy $7.00 to $103.00
2014-02-11 Downgrade Credit Suisse Outperform to Neutral $104.00 to $102.00
2014-01-27 Initiated Coverage Cowen and Company Market Perform
2014-01-13 Boost Price Target Barclays Overweight $109.00 to $115.00
2014-01-08 Downgrade Howard Weil Outperform to Sector Perform
2013-12-12 Downgrade Citigroup Inc. Buy to Neutral $95.00
2013-12-09 Lower Price Target Deutsche Bank Buy $105.00 to $98.00
2013-12-02 Initiated Coverage Goldman Sachs Neutral
2013-11-14 Boost Price Target Argus Buy $98.00 to $101.00
2013-11-08 Boost Price Target Mizuho Buy $100.00 to $104.00
2013-11-08 Reiterated Rating Oppenheimer Buy $100.00
2013-10-27 Reiterated Rating Oppenheimer Buy $100.00
2013-10-23 Boost Price Target Global Hunter Securities Neutral $98.00 to $99.00
2013-10-21 Downgrade Evercore ISI Buy to Neutral
2013-09-17 Upgrade Oppenheimer Market Perform to Outperform $87.00 to $100.00
2013-09-16 Boost Price Target Credit Suisse Outperform $100.00 to $104.00
2013-09-05 Reiterated Argus Buy $95 to $98
2013-09-03 Upgrade Mizuho Neutral to Buy $90 to $100
2013-08-19 Downgrade Stifel Buy to Hold $90 to $90
2013-07-19 Initiated Mizuho Neutral $90
2013-07-05 Upgrade Argus Hold to Buy $95
2013-06-05 Upgrade Deutsche Bank Hold to Buy $90 to $105
2013-04-18 Downgrade Oppenheimer Outperform to Perform
2013-02-15 Reiterated UBS Buy $97 to $94
2016-06-22 Initiated Coverage Credit Agricole Underperform
2016-06-22 Initiated Coverage Credit Agricole SA Underperform
2016-05-26 Boost Price Target Iberia Capital Sector Perform $53.00 to $60.00
2016-05-16 Upgrade Scotiabank Sector Perform to Sector Outperform $46.00 to $66.00
2016-05-16 Reiterated Rating Sanford C. Bernstein Outperform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
FERLIC RANDOLPH M Director 0.09%  (328549) APA /
OLSON W KREGG Exec. Vice President 0.02%  (95218) APA /
CHRISTMANN JOHN J Exec Vice Pres & COO, NA 0.02%  (62340) APA /
JEPPESEN JON A Retired Officer 0.02%  (59640) APA /
LANNIE P ANTHONY Exec. Vice President 0.01%  (57025) APA /
EICHLER RODNEY J Chief Advisor to Chairman; 0.01%  (42854) APA /
LAWRENCE GEORGE D Director 0.01%  (39090) APA /
Sullivan Timothy J Sr. VP - Operations Support 0.01%  (38171) APA /
Voytovich Thomas E Exec Vice Pres & COO, Intn\'l 0.01%  (34789) APA /
Hoyt Rebecca A Vice President, Chief Acct 0.01%  (32562) APA /
PATTON RODMAN D Director 0.01%  (30670) APA /
Joung Chansoo Director 0.01%  (30285) APA / NGLS /
HARRIS MARGERY M Exec. Vice President 0.01%  (28770) APA /
BAHORICH MICHAEL S Exec Vice President & 0.01%  (28740) APA / GGS /
CHAMBERS THOMAS P Sr. Vice President, Finance 0.01%  (28691) APA / KOS /
FRAZIER A D JR Director 0.01%  (26691) APA /
PITMAN CHARLES J Director 0.01%  (24917) APA /
MCARDLE JANINE J Senior Vice President 0.01%  (24463) APA /
Ables Grady L Sr. Region Vice President 0.01%  (23630) APA /
DUNDREA MATTHEW W Sr. Vice President, Treasury 0.01%  (22106) APA /
SAUER JON W Vice President 0.01%  (20936) APA /
Montgomery William C Director 0.01%  (20147) APA / EPD /

Comments