Apache

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Type Public Limited Company
Traded as NYSE:APA
Founded 1954
Headquarters Houston, Texas, USA
Key People G. Steven Farris (Chairman of the Board and CEO)
Revenue US $17.1 billion (2012)[1]
Net Income US $3.8 billion (2012)[2]
Total Assets US $60 million (2012)[3]
Employees 5,976 (2012)[4]
Website www.apachecorp.com

Global Snapshot

Apache is an independent oil and gas exploration and production company. Apache’s first wells were drilled in the Cushing field located about midway between Tulsa and Oklahoma City, USA.[5] The company's acquisition of the Hadson concession in Australia in 1993, marked the company's first international core area.[6]

Now, the company maintains operations in Argentina, Australia, Canada, Egypt, the UK North Sea, and the United States,[7] with proven reserves of 2.8 billion barrels of oil equivalent.[8]

In Argentina, Apache operates in the Provinces of Neuquén, Rio Negro, Tierra del Fuego and Mendoza.[9] The company's holdings in Australia are focused offshore Western Australia in the Carnarvon basin, in the Exmouth basin and in the Browse basin.[10] In Canada, Apache holds approximately seven million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan.[11] The company controls 9.7 million gross acres in Egypt, making Apache the largest acreage holder in Egypt’s Western Desert.[12] In the UK North Sea, Apache operates in the Forties field, and recently acquired operations in the Beryl, Nevis, Ness, Nevis South, Skene and Buckland fields, as well as the Beryl/Brae gas pipeline and the SAGE gas plant.[13] Finally in the United States, the company's operations are in the Anadarko and Permian basins, and in and along the Gulf of Mexico, in the areas on-and offshore Texas and Louisiana. Apache also has leasehold acreage holdings in Alaska.[14]

In 2012, 40 percent of Apache's production came from the United States; 20 percent from Egypt; 16 percent from Canda; 10 percent from the UK North Sea; 8 percent from Australia; and 6 percent from Argentina.[15]

Company Report Highlights

In 2012, Apache achieved record production for the fourth consecutive year – 779,000 barrels of oil equivalent (boe) per day. The company also replaced 156 percent of the year’s production through discoveries, extensions and acquisitions. Apache generated record annual revenues of US$17.1 billion.[16]

The annual report stresses the importance of portfolio diversification, and its 2012 production reflected this as 18 percent and 31 percent of its gas production came from international and North American sources, respectively; while 27 percent and 24 percent of liquids came from international and North American sources, respectively. For its near-term growth though, according to the 2012 annual report, Apache is focused on North America, where field studies in the Anadarko and Permian basins identified 67,000 prospective well locations and 9.2 billion boe in resource potential. The company wrote that a similar initiative was underway in Canada, and that it expected its inventory of drilling locations in North America to double once these studies are complete.[17]

Global Reputation

What Apache says about its corporate citizenship

Apache produces an annual 'Sustainability Report', the 2012 version of which stated that Apache contributes to the maintainance and protection freshwater marsh habitats and ecosystems in the environmentally sensitive south Louisiana wetlands; that it seeks non-potable sources for the volumes of water necessary to find and produce oil and gas; and that it substitutes lower-cost, cleaner-burning natural gas for diesel fuel to power its operations wherever possible.[18]

What others say about Apache's corporate citizenship

External memberships and rankings

EITI Supporter Status

Apache is not a supporting company of the EITI.[19]

UN Global Compact

Apache is not a member of the UN Global Compact initiative.[20]

Global Operations by Country

Egypt

Main article: Apache Operations in Egypt

Kenya

Main article: Apache Operations in Kenya

References

  1. Annual Report 2012" Apache.
  2. Annual Report 2012" Apache.
  3. Annual Report 2012" Apache.
  4. Annual Report 2012" Apache.
  5. "The Early Years", Apache website, retrieved 11 June 2013.
  6. "Key Dates", Apache website, retrieved 11 June 2013.
  7. "Operations", Apache website, retrieved 11 June 2013.
  8. Annual Report 2012" Apache.
  9. "Argentina", Apache website, retrieved 11 June 2013.
  10. "Australia", Apache website, retrieved 11 June 2013.
  11. "Canada region overview", Apache website, retrieved 11 June 2013.
  12. "Egypt region overview", Apache website, retrieved 11 June 2013.
  13. "UK North Sea", Apache website, retrieved 11 June 2013.
  14. "US", Apache website, retrieved 11 June 2013.
  15. Annual Report 2012" Apache.
  16. Annual Report 2012" Apache.
  17. Annual Report 2012" Apache.
  18. "Sustainability Report 2012", Apache website, retrieved 11 June 2013.
  19. "Stakeholders", EITI, retrieved 10 June 2013.
  20. "Overview", UN Global Compact, retrieved 11 June 2013.