Apache Achieves Record Fourth Quarter And 2012 Production; Fourth Quarter Production Averaged 800,000 BOEPD

  Apache Achieves Record Fourth Quarter And 2012 Production; Fourth Quarter
                      Production Averaged 800,000 BOEPD

PR Newswire

HOUSTON, Feb. 14, 2013

HOUSTON, Feb. 14, 2013 /PRNewswire/ --Apache Corporation (NYSE, Nasdaq: APA)
today reported record overall production for its fourth consecutive year, as
well as record oil and liquids production. Average daily production during
2012 increased to 779,000 barrels of oil equivalent (boe) per day, up 5.4
percent compared with the prior year's production, adjusted for dispositions.
Oil and gas revenues were a record $16.9 billion, up from $16.8 billion in the
prior year.

These results contributed to full-year 2012 earnings of $1.9 billion or $4.92
per diluted common share, compared with $4.5 billion or $11.47 per share in
2011. Excluding certain items that management believes affect the
comparability of operating results, such as the impact of a ceiling test
write-down due primarily to substantially weakerCanadian natural gas prices,
Apache reported adjusted earnings* of $3.8 billion or $9.48 per share,
compared with $4.7 billion or $11.83 per share in 2011. Cash from operations
before changes in operating assets and liabilities* was $10.2 billion,
sustaining the record level achieved the prior year even with lower average
North American natural gas prices.

"Having deepened and strengthened our global portfolio of growth projects
since 2010, we are accelerating our operational momentum," said G. Steven
Farris, chairman and chief executive officer. "Apache exited 2012 producing in
excess of 800,000 boe per day, driven primarily by our North American oil
production, which increased 12 percent during the year.

"We have an extensive pipeline of opportunities that will fuel our profitable
growth for years to come. This includes more than 67,000 technically evaluated
drilling locations in the onshore U.S. It also includes a robust group of
world-class development projects throughout our global portfolio, including
Wheatstone and Kitimat, our two liquefied natural gas projects with products
indexed to crude oil prices."

Apache has become the leading oil and gas driller in the Permian Basin,
operating more rigs than any industry competitor. Apache also is among the
most active oil and gas companies in the Central Region's Anadarko Basin, as
the company accelerates development of its horizontal drilling play inventory.
Year-over-year production from these two regions increased 18 and 37 percent,
respectively.

Earlier this month, a company subsidiarycompleted a transactionwith Chevron
Canada Ltd. to jointly build and operate the Kitimat LNG project, enhancing
our efforts to move this project to sanction and monetize natural gas
resources we discovered in the Horn River and Liard basins of northern British
Columbia. The incremental resources targeted for monetization through Kitimat
have the potential to triple Apache's total proved reserves.

In fourth-quarter 2012 earnings totaled $649 million or $1.64 per diluted
share, compared with $1.17 billion or $2.98 per share in the prior-year
period. Adjusted earnings for the period were $907 million, or $2.27 per
share, compared with $1.2 billion, or $2.94 per share in the same period for
2011. Production reached a new quarterly milestone, averaging 800,000 boe per
day, and cash from operations totaled $2.77 billion, compared with $2.66
billion in the same period of the prior year.

Apache's oil and natural gas liquids production was 51 percent of total volume
in 2012 and contributed 81 percent of revenues reflecting the wide gap between
global crude oil and North American natural gas prices.

During 2012 the company added 372 MMboe of reserves, or 131 percent of
production, through discoveries and extensions and 73 MMboe through
acquisitions for a reserve replacement rate of 156 percent, excluding
revisions. Low prices throughout the year for Canadian natural gas resulted in
a ceiling test write-down and were the primary driver of negative revisions
totaling 299 MMboe. Apache ended the year with proved reserves of 2.9 billion
boe, after producing 285 MMboe. The company invested $9.0 billion on
exploration and development during the year.

Apache to webcast conference call

Apache Corporation will discuss its fiscal 2012 and fourth-quarter results at
1 p.m. Central time on Thursday, Feb. 14. The conference call will be webcast
from Apache's website www.apachecorp.com. The webcast replay will be archived
on Apache's website. The conference call will be available for delayed
playback by telephone for one week beginning at approximately 4 p.m. on Feb.
14. To access the telephone playback, dial 855-859-2056 or 404-537-3406 for
international calls. The conference access code is 84095210.

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" and similar references to future periods. These statements include,
but are not limited to, statements about future growth plans, expectations,
and objectives for Apache's operations including statements about our drilling
plans, planned wells, and Wheatstone and Kitimat LNG projects. While
forward-looking statements are based on assumptions and analyses made by us
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 which could cause our actual results,
performance, and financial condition to differ materially from our
expectations. See "Risk Factors" in our 2011 Form 10-K and our subsequent
filings 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.

Cautionary Note to Investors

The United States Securities and Exchange Commission ("SEC") permits oil and
gas companies, in their filings with the SEC, to disclose only proved,
probable, and possible reserves that meet the SEC's definitions for such
terms. Apache uses certain terms in this release, such as "resources," and
other similar terms that the SEC guidelines strictly prohibit Apache from
including in filings with the SEC. Such terms do not take into account the
certainty of resource recovery, which is contingent on exploration success,
technical improvements in drilling access, commerciality and other factors,
and are therefore not indicative of expected future resource recovery and
should not be relied upon. Investors are urged to consider carefully the
disclosure in Apache's Annual Report on Form 10-K for the fiscal year ended
Dec. 31, 2011, and amendments thereto, available from Apache at
www.apachecorp.com or by writing Apache at: 2000 Post Oak Blvd., Suite 100,
Houston, Texas 77056 (Attn: Corporate Secretary). You can also obtain this
report from the SEC by calling 1-800-SEC-0330 or from the SEC's website at
www.sec.gov.

*Adjusted earnings andcash from operations before changes in operating assets
and liabilities are non-GAAP measures. Please see reconciliations below. For
supplemental and non-GAAP information, please go to
http://www.apachecorp.com/financialinfo.



APACHE CORPORATION
STATEMENT OF CONSOLIDATED OPERATIONS
(In millions, except per share data)
                                For the Quarter      For the Year
                                Ended December 31,    Ended December 31,
                                2012       2011       2012         2011
REVENUES AND OTHER:
 Oil and gas production         $ 4,393    $ 4,295    $ 16,947     $ 16,810
 revenues
 Other                         (2)        2          131          78
                                4,391      4,297      17,078       16,888
COSTS AND EXPENSES:
 Depreciation, depletion and
 amortization
  Recurring                  1,380      1,111      5,183        4,095
  Additional                 28         63         1,926        109
 Asset retirement obligation    60         40         232          154
 accretion
 Lease operating expenses       790        659        2,968        2,605
 Gathering and transportation  68         75         303          296
 Taxes other than income        235        236        862          899
 General and administrative     147        132        531          459
 Merger, acquisitions &         2          5          31           20
 transition
 Financing costs, net           40         35         165          158
                                2,750      2,356      12,201       8,795
INCOME BEFORE INCOME TAXES      1,641      1,941      4,877        8,093
 Current income tax provision  506        571        2,235        2,263
 Deferred income tax provision  467        181        641          1,246
NET INCOME                     668        1,189      2,001        4,584
 Preferred stock dividends      19         19         76           76
INCOME ATTRIBUTABLE TO COMMON   $   649  $ 1,170    $  1,925    $  4,508
STOCK
NET INCOME PER COMMON SHARE:
 Basic                          $  1.66  $  3.05  $   4.95  $  11.75
 Diluted                       $  1.64  $  2.98  $   4.92  $  11.47
WEIGHTED-AVERAGE NUMBER OF
COMMON
 SHARES OUTSTANDING:
 Basic                          391        384        389          384
 Diluted                        407        400        391          400
DIVIDENDS DECLARED PER COMMON   $  0.17  $  0.15  $   0.68  $   0.60
SHARE



APACHE CORPORATION
SUMMARY OF CAPITAL COSTS INCURRED
(In millions)
                          For the Quarter              For the Year
                          Ended December 31,            Ended December 31,
                          2012           2011           2012        2011
CAPITAL EXPENDITURES:
 Exploration &
 Development Costs
                          $        $        $       $    
    United States           1,543         792                  
                                                        5,151        2,768
    Canada                131            208            590         817
      North America       1,674          1,000          5,741       3,585
    Egypt                 265            222            1,074       896
    Australia             355            131            873         576
    North Sea             183            205            886         823
    Argentina             67             101            289         346
    New Ventures -        14             12             98          61
    International
      International       884            671            3,220       2,702
      Worldwide           $        $        $       $    
      Exploration &         2,558        1,671                   
      Development Costs                                 8,961        6,287
 Gathering, Transmission
 and Processing
 Facilities
                                                        $       $    
    United States         $        $                   
                              18        18     75           
                                                                    27
    Canada                34             35             172         148
    Egypt                 18             37             33          111
    Australia             103            90             441         345
    Argentina             4              5              16          12
    North Sea             1              -              1           -
      Total Gathering,    $        $        $       $    
      Transmission and       178        185                
      Processing                                        738            643
                          $        $        $       $    
 Capitalized Interest         93        70               
                                                        334            263
 Capital Expenditures,    $        $        $       $    
 excluding Acquisitions     2,829        1,926        10,033      
                                                                     7,193
                          $        $        $       $    
 Acquisitions                122       2,696                   
                                                        3,543        3,189
APACHE CORPORATION
SUMMARY BALANCE SHEET INFORMATION
(In millions)
                          December 31,   December 31,
                          2012           2011
 Cash and Cash            $        $      
 Equivalents                 160        295
 Other Current Assets    4,802          4,508
 Property and Equipment,  53,280         45,448
 net
 Goodwill                 1,289          1,114
 Other Assets             1,206          686
 Total Assets             $        $      
                          60,737        52,051
 Short-Term Debt          $        $      
                             990        431
 Other Current            4,546          4,532
 Liabilities
 Long-Term Debt           11,355         6,785
 Deferred Credits and
 Other Noncurrent         12,515         11,310
 Liabilities
 Shareholders' Equity     31,331         28,993
 Total Liabilities and    $        $      
 Shareholders' Equity     60,737        52,051
 Common shares
 outstanding at end of    392            384
 period



APACHE CORPORATION
PRODUCTION INFORMATION
                                   For the Quarter      For the Year
                                   Ended December 31,    Ended December 31,
                                   2012       2011       2012       2011
 OIL VOLUME - Barrels per day
     Central                       21,026     7,323      14,151     6,788
     Permian                       65,104     54,381     60,215     50,991
     GOM Deepwater                 8,355      6,507      6,848      6,022
     GOM Shelf                     44,752     47,780     42,873     46,031
     GC Onshore                    10,489     10,189     10,036     9,583
            United States          149,726    126,180    134,123    119,415
     Canada                        17,377     14,882     15,830     14,252
            North America          167,103    141,062    149,953    133,667
     Egypt                         103,056    103,908    99,756     103,912
     Australia                     26,483     38,169     28,884     38,228
     North Sea                     65,583     55,859     63,692     54,541
     Argentina                     9,859      9,655      9,741      9,597
            International          204,981    207,591    202,073    206,278
                    Total         372,084    348,653    352,026    339,945
 NATURAL GAS VOLUME - Mcf per day
     Central                       287,956    193,722    242,998    213,447
     Permian                       184,781    178,766    180,938    173,188
     GOM Deepwater                 48,177     48,144     46,048     52,193
     GOM Shelf                     265,918    335,434    291,356    341,242
     GC Onshore                    103,722    106,505    92,759     84,672
            United States          890,554    862,571    854,099    864,742
     Canada                        550,495    631,122    600,680    632,550
            North America          1,441,049  1,493,693  1,454,779  1,497,292
     Egypt                         350,406    355,091    353,738    365,418
     Australia                     204,961    189,852    214,013    185,079
     North Sea                     43,745     2,366      57,457     2,284
     Argentina                     204,724    221,523    213,464    212,311
            International          803,836    768,832    838,672    765,092
                    Total^        2,244,885  2,262,525  2,293,451  2,262,384
 NGL VOLUME - Barrels per day
     Central                       10,231     5,566      6,518      2,268
     Permian                       21,997     12,256     17,966     11,799
     GOM Deepwater                 1,519      582        1,185      715
     GOM Shelf                     6,908      4,446      5,738      5,278
     GC Onshore                    2,229      2,556      2,120      2,051
            United States          42,884     25,406     33,527     22,111
     Canada                        6,837      5,183      6,258      5,958
            North America          49,721     30,589     39,785     28,069
     Egypt                         -          -          -          49
     North Sea                     1,085      -          1,618      4
     Argentina                     2,967      2,997      3,008      3,018
            International          4,052      2,997      4,626      3,071
                    Total          53,773     33,586     44,411     31,140
 BOE per day
     Central                       79,250     45,176     61,169     44,630
     Permian                       117,898    96,431     108,338    91,655
     GOM Deepwater                 17,903     15,114     15,708     15,436
     GOM Shelf                     95,980     108,132    97,170     108,183
     GC Onshore                    30,005     30,495     27,615     25,746
            United States          341,036    295,348    310,000    285,650
     Canada                        115,963    125,252    122,201    125,636
            North America          456,999    420,600    432,201    411,286
     Egypt                         161,458    163,090    158,713    164,864
     Australia                     60,643     69,812     64,552     69,074
     North Sea                     73,959     56,253     74,887     54,925
     Argentina                     46,946     49,572     48,326     48,000
            International          343,006    338,727    346,478    336,863
                    Total^        800,005    759,327    778,679    748,149



APACHE CORPORATION
PRICE INFORMATION
                                    For the Quarter      For the Year
                                    Ended December 31,    Ended December 31,
                                    2012       2011       2012       2011
 AVERAGE OIL PRICE PER BARREL
    Central                         $ 82.55    $ 89.36   $ 86.48   $ 89.89
    Permian                         81.40      89.99      88.18      90.87
    GOM Deepwater                   103.06     112.77     105.17     106.75
    GOM Shelf                       105.27     115.70     108.52     108.92
    GC Onshore                      105.21     112.66     107.83     105.98
          United States ^(1)        91.01      99.54      94.98      95.51
    Canada                          82.08      94.38      84.89      93.19
          North America ^(1)        90.08      98.99      93.91      95.27
    Egypt^(1)                       107.80     106.65     110.92     109.92
    Australia^(1)                   111.34     109.53     115.22     111.22
    North Sea^(1)                   106.17     104.64     107.97     104.09
    Argentina                       74.53      76.67      75.89      68.02
          International ^(1)        106.14     105.24     108.92     106.67
                  Total^(1)         98.93      102.71     102.53     102.19
 AVERAGE NATURAL GAS PRICE PER MCF
    Central                         $  3.79  $  3.92  $  3.26  $  4.44
    Permian                         3.75       5.05       3.34       5.17
    GOM Deepwater                   3.48       3.48       2.99       4.06
    GOM Shelf                       3.51       3.86       3.01       4.42
    GC Onshore                      3.47       3.73       2.92       4.34
          United States ^(1)        4.05       4.59       3.74       4.91
    Canada ^(1)                     4.03       4.15       3.42       4.47
          North America ^(1)        4.04       4.40       3.61       4.72
    Egypt                           4.02       4.82       3.90       4.66
    Australia                       4.88       2.64       4.55       2.69
    North Sea                       10.11      20.49      8.95       22.25
    Argentina                       2.98       2.82       2.87       2.64
          International             4.30       3.75       4.15       3.67
                  Total ^(1)        4.14       4.18       3.80       4.37
 AVERAGE NGL PRICE PER BARREL
    Central                         $ 27.06    $ 29.96   $ 27.48   $ 38.67
    Permian                         29.95      39.09      32.97      47.88
    GOM Deepwater                   32.34      58.28      33.06      50.44
    GOM Shelf                       28.17      55.07      32.04      49.63
    GC Onshore                      36.60      56.08      40.04      58.51
          United States             29.40      42.03      32.19      48.42
    Canada                          33.59      50.16      34.63      45.72
          North America             29.98      43.41      32.57      47.85
    Egypt                           -          -          -          66.36
    North Sea                       94.42      -          77.11      65.45
    Argentina                       22.76      27.00      21.55      27.90
          International             41.96      27.00      40.98      28.56
                  Total             30.88      41.95      33.45      45.95
^(1) Prices reflect the impact of financial derivative hedging activities.



APACHE CORPORATION
NON-GAAP FINANCIAL MEASURES
(In millions, except per share data)
Reconciliation of income attributable to common stock to adjusted earnings:
The press release discusses Apache's adjusted earnings. Adjusted earnings
exclude certain items that management believes affect the comparability of
operating results and are meaningful for the following reasons:
      Management uses adjusted earnings to evaluate the company's operational
Ÿ•    trends and performance relative to other oil and gas producing
      companies.
      Management believes this presentation may be useful to investors who
Ÿ•    follow the practice of some industry analysts who adjust reported
      company earnings for items that may obscure underlying fundamentals and
      trends.
      The reconciling items below are the types of items management believes
Ÿ•    are frequently excluded by analysts when evaluating the operating trends
      and comparability of the company's results.
                              For the Quarter           For the Year
                              Ended December 31,         Ended December 31,
                              2012          2011         2012        2011
Income Attributable to Common $   649     $ 1,170      $          $ 
Stock (GAAP)                                             1,925       4,508
Adjustments:
      Canada and other oil &
      gas property            18            60           1,427       60
      write-down, net of tax
      Deferred tax            226           (75)         226         (75)
      adjustments
      U.K. income tax         -             -            118         218
      adjustments
      Commodity derivative
      mark-to-market, net of  51            -            51          -
      tax
      Merger, acquisitions &  2             4            19          13
      transition, net of tax
      Unrealized foreign
      currency fluctuation    (39)          (5)          1           (73)
      impact on deferred tax
      expense
Adjusted Earnings (Non-GAAP) $   907     $ 1,154      $          $ 
                                                         3,767       4,651
Net Income per Common Share - $  1.64     $  2.98    $         $ 
Diluted (GAAP)                                           4.92       11.47
Adjustments:
      Canada and other oil &
      gas property            0.04          0.15         3.53        0.15
      write-down, net of tax
      Deferred tax            0.56          (0.19)       0.56        (0.19)
      adjustments
      U.K. income tax         -             -            0.30        0.55
      adjustments
      Commodity derivative
      mark-to-market, net of  0.13          -            0.13        -
      tax
      Merger, acquisitions &  -             0.01         0.04        0.03
      transition, net of tax
      Unrealized foreign
      currency fluctuation    (0.10)        (0.01)       -           (0.18)
      impact on deferred tax
      expense
Adjusted Earnings Per Share - $  2.27     $  2.94    $         $ 
Diluted (Non-GAAP)                                       9.48       11.83
Reconciliation of net cash provided by operating activities to cash from
operations before changes in operating assets and liabilities:
The press release discusses Apache's cash from operations before changes in
operating assets and liabilities. It is presented because management
believes the information is useful for investors because it is used
internally and widely accepted by those following the oil and gas industry as
a financial indicator of a company's ability to generate cash to internally
fund exploration and development activities, fund dividend programs, and
service debt. It is also used by research analysts to value and compare oil
and gas exploration and production companies, and is frequently included in
published research when providing investment recommendations. Cash from
operations before changes in operating assets and liabilities, therefore, is
an additional measure of liquidity, but is not a measure of financial
performance under GAAP and should not be considered as an alternative to cash
flows from operating, investing, or financing activities.
The following table reconciles net cash provided by operating activities to
cash from operations before changes in operating assets and liabilities.
                              For the Quarter           For the Year
                              Ended December 31,         Ended December 31,
                              2012          2011         2012        2011
Net cash provided by          $ 2,082       $ 2,782      $          $ 
operating activities                                     8,504       9,953
Changes in operating assets   685           (118)        1,705       281
and liabilities
Cash from operations before
changes in operating assets   $ 2,767       $ 2,664      $ 10,209    $ 10,234
and liabilities



APACHE CORPORATION
OIL & GAS RESERVES INFORMATION
For the Year Ended December 31, 2012
 OIL (Mbbl)
               U.S.    Canada    Egypt   Australia North   Argentina Total
                                                           Sea
 Balance -     634,014   141,591     128,035   67,945      169,405  20,587      1,161,577
 Dec 31, 2011
  Extensions
  and          84,656    18,935      36,188    6,277       346      1,133       147,535
  Discoveries
  Purchases    15,942    188         -         276         2,143    -           18,549
  Revisions    (7,474)   (4,577)     (3,678)   (66)        (928)    671         (16,052)
  Production   (49,089)  (5,792)     (36,511)  (10,571)    (23,312) (3,565)     (128,840)
  Sales        (144)     -           -         -           -        -           (144)
 Balance -     677,905   150,345     124,034   63,861      147,654  18,826      1,182,625
 Dec 31, 2012
 NGL's
 (Mbbl)
               U.S.    Canada    Egypt   Australia North   Argentina Total
                                                           Sea
 Balance -     160,033   31,450      -         -           9,262    7,153       207,898
 Dec 31, 2011
  Extensions
  and          71,965    7,655       -         -           246      -           79,866
  Discoveries
  Purchases    230       9           -         -           231      -           470
  Revisions    (4,559)   (2,569)     -         -           (6,329)  (169)       (13,626)
  Production   (12,272)  (2,291)     -         -           (592)    (1,101)     (16,256)
 Balance -     215,397   34,254      -         -           2,818    5,883       258,352
 Dec 31, 2012
 Oil &
 NGL's
               U.S.    Canada    Egypt   Australia North   Argentina Total
                                                           Sea
 Balance -     794,047   173,041     128,035   67,945      178,667  27,740      1,369,475
 Dec 31, 2011
  Extensions
  and          156,621   26,590      36,188    6,277       592      1,133       227,401
  Discoveries
  Purchases    16,172    197         -         276         2,374    -           19,019
  Revisions    (12,033)  (7,146)     (3,678)   (66)        (7,257)  502         (29,678)
  Production   (61,361)  (8,083)     (36,511)  (10,571)    (23,904) (4,666)     (145,096)
  Sales        (144)     -           -         -           -        -           (144)
 Balance -     893,302   184,599     124,034   63,861      150,472  24,709      1,440,977
 Dec 31, 2012
 GAS (MMcf)
               U.S.    Canada    Egypt   Australia North   Argentina Total
                                                           Sea
 Balance -     2,976,211 3,547,511   982,966   1,569,584   108,442  537,559     9,722,273
 Dec 31, 2011
  Extensions
  and          365,863   252,130     55,967    176,969     16,397   2,623       869,949
  Discoveries
  Purchases    313,885   2,503       -         1,745       8,494    -           326,627
  Revisions    (156,840) (1,443,989) (13,974)  101         -        496         (1,614,206)
  Production   (312,600) (219,849)   (129,468) (78,329)    (21,029) (78,128)    (839,403)
  Sales        (612)     (422)       -         -           -        -           (1,034)
 Balance -     3,185,907 2,137,884   895,491   1,670,070   112,304  462,550     8,464,206
 Dec 31, 2012
 TOTAL BOE
 (Mboe)
               U.S.    Canada    Egypt   Australia North   Argentina Total
                                                           Sea
 Balance -     1,290,082 764,293     291,863   329,542     196,741  117,333     2,989,854
 Dec 31, 2011
  Extensions
  and          217,598   68,612      45,516    35,772      3,325    1,570       372,393
  Discoveries
  Purchases    68,486    614         -         567         3,790    -           73,457
  Revisions    (38,173)  (247,811)   (6,007)   (49)        (7,257)  585         (298,712)
  Production   (113,461) (44,725)    (58,089)  (23,626)    (27,409) (17,687)    (284,997)
  Sales        (246)     (70)        -         -           -        -           (316)
 Balance -     1,424,286 540,913     273,283   342,206     169,190  101,801     2,851,679
 Dec 31, 2012
 Proved
 developed
 reserves:
  Oil + NGL's  629,345   101,691     106,746   29,053      122,073  20,852      1,009,760
  (Mbbls)
  Gas (Mboe)   392,264   289,109     115,073   99,342      15,554   60,843      972,185
 Balance -
 Dec 31, 2012  1,021,609 390,800     221,819   128,395     137,627  81,695      1,981,945
 (Mboe)



APACHE CORPORATION
OIL & GAS RESERVES AND COSTS
For the Year Ended December 31, 2012
Reserve
Additions
(Mboe)
               U.S.   Canada  Egypt Australia North  Argentina Other Total
                                                      Sea
Extensions
and            217,598  68,612    45,516  35,772      3,325   1,570       -       372,393
Discoveries
Purchases      68,486   614       -       567         3,790   -           -       73,457
 Additions
 excluding     286,084  69,226    45,516  36,339      7,115   1,570       -       445,850
 revisions
Revisions      (38,173) (247,811) (6,007) (49)        (7,257) 585         -       (298,712)
 Total        247,911  (178,585) 39,509  36,290      (142)   2,155       -       147,138
Capital Cost
Information
(Non-GAAP)
(in millions)
               U.S.   Canada  Egypt Australia North  Argentina Other Total
                                                      Sea
Exploration &
Development,
excluding
Capitalized
Interest and
Asset          $      $      $       $        $    $       $     $  
Retirement     5,151    590      1,074  873         886  289         98      8,961
Cost (ARC)
^(1)
Acquisitions,
excluding ARC
- Acquired
 Proved        1,071    5         28      4           59      -           -       1,167
 Unproved      2,329    -         -       -           26      -           -       2,355
 Total     $      $      $       $        $    $       $     $ 12,483
               8,551    595      1,102  877         971  289         98
^(1) Includes capital spending of $1.1 billion for leasehold and $365 million for seismic.
Reconciliation of Exploration and Development Costs to Exploration and Development Costs,
excluding Capitalized Interest and Asset Retirement Cost, a Non-GAAP Financial Measure
Presented below is a reconciliation of exploration and development costs (GAAP) to
exploration and development costs, excluding capitalized interest and asset retirement cost
(Non-GAAP). Management believes exploration and development costs, excluding capitalized
interest and asset retirement cost is a more accurate reflection of the expenditures during
the current year.
               U.S.   Canada  Egypt Australia North  Argentina Other Total
                                                      Sea
Exploration &
Development    $      $      $       $   1,064 $    $       $     $ 10,225
Costs (in      5,834    873      1,090               948  318         98
millions)
 Less:
 Capitalized   (215)    (38)      (16)    (12)        (24)    (11)        -       (316)
 Interest
 Less: ARC     (468)    (245)     -       (179)       (38)    (18)        -       (948)
  Total      $      $      $       $        $    $       $     $  
 Adds          5,151    590      1,074  873         886  289         98      8,961
Reconciliation of Total Acquisition Costs to Acquisitions, excluding Asset Retirement Cost
- Acquired, a Non-GAAP Financial Measure
Presented below is a reconciliation of total acquisition costs (GAAP) to acquisitions,
excluding asset retirement cost - acquired (Non-GAAP). Management believes acquisitions,
excluding asset retirement cost - acquired is a more accurate reflection of the costs of
acquisitions during the current year.
               U.S.   Canada  Egypt Australia North  Argentina Other Total
                                                      Sea
Total
Acquisition
Costs (in
millions)
 Proved        $      $     $    $       $    $      $     $  
               1,076      5     28      32          110   -         -      1,251
 Unproved      2,329    -         -       -           26                  -       2,355
Less: ARC -    (5)      -         -       (28)        (51)    -           -       (84)
Acquired
 Acquisitions, $      $     $    $      $    $      $     $  
 excluding ARC 3,400      5     28       4           85  -         -      3,522
 - Acquired



APA-F

SOURCE Apache Corporation

Website: http://www.apachecorp.com
Contact: Media, Patrick Cassidy, +1-713-296-6100, or Bill Mintz,
+1-713-296-7276, or John Roper, +1-281-302-2646, or Bob Dye, +1-713-296-6662,
or Investors, Brady Parish, Castlen Kennedy, Christopher Cortez, or Alicia
Reis, +1-713-302-2286
 
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