Apache's Bid Round Successes Fuel Exploration In UK, Suriname

        Apache's Bid Round Successes Fuel Exploration In UK, Suriname

PR Newswire

HOUSTON, Nov. 1, 2012

HOUSTON, Nov. 1, 2012 /PRNewswire/ --Apache Corporation (NYSE, Nasdaq: APA)
said today that it has been awarded petroleum exploration acreage that will
provide opportunities to find new resources near its core operations in the
United Kingdom sector of the North Sea as well as a new entry in the
Equatorial Margin play fairway offshore of the Republic of Suriname.

"Adding acreage to bolster Apache's drilling inventory in the North Sea and
securing a high-potential exploration area offshore Suriname illustrate
Apache's commitment to adding production and reserves through the drillbit,"
said Rodney J. Eichler, Apache's president and chief operating officer.

In the North Sea, the UK Department of Energy & Climate Change awarded 11 new
licenses to Apache as operator and a nonoperated interest in one additional
license. The licenses cover 19 full or partial blocks (613,316 gross acres or
2,482 square kilometers). Apache agreed to drill six wells and acquire a new
3-D seismic survey.

"This was a very successful outcome that will provide avenues for continued
growth near our major producing assets as well as high-potential exploration
targets in the Central Graben area of the North Sea," said James L. House,
vice president and managing director of Apache's North Sea Region. "We
obtained all of the available acreage around our Beryl Field plus a key
license near the Forties Field."

The economic prospectivity of these areas was enhanced by recent improvements
in the UK tax allowance schemes involving small fields and high-pressure,
high-temperature fields, House said.

Apache plans to acquire its third 4-D seismic survey over the Forties area in
2013 since becoming the operator in 2003 and complete the remaining 560 km^2
of a new 1,500 km^2 3-D survey in the Beryl area in 2013 that was started this
summer. This will be the first new 3-D seismic survey acquired over the Beryl
complex since 1997.

In Suriname, Apache signed a production sharing agreement with Staatsolie
Maatschappij Suriname NV – the national oil company – for Block 53, a
867,117-acre (3,509 km^2) area located in 1,640-5,900 feet (500-1,800 meters)
of water about 80 miles (130 km) offshore.

Apache agreed to a work program that includes a 3-D seismic program expected
to begin in 2013 and two exploration wells. Apache has a 100-percent
participating interest in the block. Staatsolie has an option to obtain a
20-percent participating interest in commercial fields discovered on the
block.

"Block 53 is on trend with the large Zaedyus discovery offshore French Guiana
-- an indication that the Equatorial Margin play fairway may extend to the
west side of the Atlantic Ocean," said Tim Chisholm, director of Apache's New
Ventures activities in the Americas. "Apache was selected after a competitive
bid round involving companies with proven international exploration track
records."

About Apache

Apache Corporation is an oil and gas exploration and production company with
operations in the United States, Canada, Egypt, the United Kingdom North Sea,
Australia and Argentina. Apache posts announcements, operational updates,
investor information and copies of all press releases on its website,
www.apachecorp.com.

Forward-looking statements

This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements can be identified by words
such as "anticipates," "intends," "plans," "seeks," "believes," "estimates,"
"expects," "forecasts" and similar references to future periods. These
statements include, but are not limited to, statements about Apache's ability
to execute on exploration, production and development plans in the UK North
Sea and Suriname. While forward-looking statements are based on our
assumptions and analyses that we believe to be reasonable under the
circumstances, whether actual results and developments will meet our
expectations and predictions depend on a number of risks and uncertainties
that could cause our actual results, performance and financial condition to
differ materially from our expectations. See "Risk Factors" in our 2011 Form
10-K filed with the Securities and Exchange Commission for a discussion of
risk factors that affect our business. Any forward-looking statement made by
us in this news release speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking statement,
whether as a result of new information, future development, or otherwise,
except as may be required by law.

APA-V



SOURCE Apache Corporation

Website: http://www.apachecorp.com
Contact: Media, Bill Mintz, +1-713-296-7276, or Patrick Cassidy,
+1-713-296-6100, or John Roper +1-281-302-2646, or Investors, Brady Parish,
+1-713-296-6472, or Castlen Kennedy, +1-713-296-7189, Website:
www.apachecorp.com