Apache Corporation, Company Intelligence Report

 Published On: Sep, 2014 |    No of Pages: 167 |  Published By: GlobalData | Format: PDF
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Summary

Apache Corporation (Apache) is a Texas-based independent oil and gas company involved in the exploration, exploitation, development and production of onshore and offshore oil and natural gas properties in five countries: the US, Canada, Egypt, Australia, and the UK North Sea. Its operations consist primarily of upstream activities, along with some exposure to midstream operations. As of December 31, 2013, Apache possessed proved (1P) reserves amounting to 1.1 billion barrels of oil (billion bbl) of crude, 292 million barrels of oil (mmbbl) of Natural Gas Liquids (NGL) and 7.3 trillion cubic feet (tcf) of natural gas.

The company’s 1P developed reserves totaled 1.8 billion barrels of oil equivalent (billion boe) as of December 31, 2013; while it’s estimated 1P undeveloped reserves totaled 813 mmboe. The production of liquids and natural gas amounted to 150.1 mmbbl and 765.4 billion cubic feet (bcf) respectively in 2013. Apache’s total net acreage stood at 24.4 million of acres on December 31, 2013. Approximately 44% of the company’s global production and 51% of its estimated 1P reserves for 2013 were based in the US. Its international assets are located in Egypt, Australia, and the UK North Sea. Production from these international assets accounted for 42% of the company’s global production in 2013. As of December 31, 2013, 32% of the company’s estimated 1P reserves were located outside of North America.

Apache’s acreage within the US was divided into five regions during 2013: Permian, Central, Gulf Coast Onshore, Gulf of Mexico Deepwater, and the Gulf of Mexico Shelf. In 2014, the Gulf of Mexico Shelf and Gulf of Mexico Deepwater regions have been combined to form the Gulf of Mexico region. The company had a net total of 6.2 million of acres in this region as of December 31, 2013.

Apache holds almost 3.8 million net acres across the provinces of British Columbia (BC), Alberta, and Saskatchewan in Canada, as of December 31, 2013. Production from the Canadian region, where the company focuses on oil- and liquids-rich gas areas, constituted approximately 14% of its global production for the year. Apache is one of the largest acreage holders in Egypt’s Western Desert, with 6.9 million net acres in this region as of December 31, 2013. Production from this region amounted to a net total of 90 thousand barrels of oil per day (mbd) and 356 million cubic feet per day (mmcfd) of net natural gas in 2013.

The company’s operations in Australia are concentrated in offshore Western Australia in the Carnarvon, Exmouth and Browse basins. As of December 31, 2013, it possessed 4.4 million net acres in the region. Production from was Australia amounted to 19 mbd of oil and 223 mmcfd of natural gas in 2013, equivalent to 7% of Apache’s global production. The company’s operations in the North Sea are located in the Forties field (Forties), Beryl, Nevis, Nevis South, Skene, and Buckland fields, and it also owns non-operated interest in the Maclure, Scott, and Telford fields. As of December 31, 2013, Apache has interests in approximately 585 thousand net acres in the UK North Sea. Production from this region in 2013 amounted to 65 mbd of oil and 51 mmcfd of natural gas, constituting 10% of Apache’s global production. The following figure illustrates the company’s operations in various locations in 2014.

Apache Corporation (Apache) is a Texas-based independent oil and gas company involved in the exploration, exploitation, development and production of onshore and offshore oil and natural gas properties in five countries: the US, Canada, Egypt, Australia, and the UK North Sea. Its operations consist primarily of upstream activities, along with some exposure to midstream operations. As of December 31, 2013, Apache possessed proved (1P) reserves amounting to 1.1 billion barrels of oil (billion bbl) of crude, 292 million barrels of oil (mmbbl) of Natural Gas Liquids (NGL) and 7.3 trillion cubic feet (tcf) of natural gas.

The company’s 1P developed reserves totaled 1.8 billion barrels of oil equivalent (billion boe) as of December 31, 2013; while it’s estimated 1P undeveloped reserves totaled 813 mmboe. The production of liquids and natural gas amounted to 150.1 mmbbl and 765.4 billion cubic feet (bcf) respectively in 2013. Apache’s total net acreage stood at 24.4 million of acres on December 31, 2013. Approximately 44% of the company’s global production and 51% of its estimated 1P reserves for 2013 were based in the US. Its international assets are located in Egypt, Australia, and the UK North Sea. Production from these international assets accounted for 42% of the company’s global production in 2013. As of December 31, 2013, 32% of the company’s estimated 1P reserves were located outside of North America.

Apache’s acreage within the US was divided into five regions during 2013: Permian, Central, Gulf Coast Onshore, Gulf of Mexico Deepwater, and the Gulf of Mexico Shelf. In 2014, the Gulf of Mexico Shelf and Gulf of Mexico Deepwater regions have been combined to form the Gulf of Mexico region. The company had a net total of 6.2 million of acres in this region as of December 31, 2013.

Apache holds almost 3.8 million net acres across the provinces of British Columbia (BC), Alberta, and Saskatchewan in Canada, as of December 31, 2013. Production from the Canadian region, where the company focuses on oil- and liquids-rich gas areas, constituted approximately 14% of its global production for the year. Apache is one of the largest acreage holders in Egypt’s Western Desert, with 6.9 million net acres in this region as of December 31, 2013. Production from this region amounted to a net total of 90 thousand barrels of oil per day (mbd) and 356 million cubic feet per day (mmcfd) of net natural gas in 2013.

The company’s operations in Australia are concentrated in offshore Western Australia in the Carnarvon, Exmouth and Browse basins. As of December 31, 2013, it possessed 4.4 million net acres in the region. Production from was Australia amounted to 19 mbd of oil and 223 mmcfd of natural gas in 2013, equivalent to 7% of Apache’s global production. The company’s operations in the North Sea are located in the Forties field (Forties), Beryl, Nevis, Nevis South, Skene, and Buckland fields, and it also owns non-operated interest in the Maclure, Scott, and Telford fields. As of December 31, 2013, Apache has interests in approximately 585 thousand net acres in the UK North Sea. Production from this region in 2013 amounted to 65 mbd of oil and 51 mmcfd of natural gas, constituting 10% of Apache’s global production. The following figure illustrates the company’s operations in various locations in 2014.

Scope

- Key Highlights: This section provides detailed analysis on the company’s overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
- Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
- SWOT: The report’s SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
- Production and Development Overview: This section highlights the company’s crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company’s producing and development assets.
- Exploration: This section includes detailed explanation and analysis on the company’s exploration assets resulted due to new discoveries, new drilling and other activities.
- M&A trends: This section mainly provides information and analysis on the company’s recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company’s status as a buyer or seller during the analyzed period.
- Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Valuation method.
- Financial and Operational Metrics: This section covers the company’s historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
- Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
- Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
- Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
- Use the analysis for strategy and planning, M&A identifications, and competitor analysis.

1 Table of Contents
1 Table of Contents 6
1.1 List of Tables 10
1.2 List of Figures 12
2 Apache Corporation, Company Overview 17
3 Apache Corporation, Key Highlights 21
3.1 Strong Onshore Liquid Growth in North America 21
3.2 Strong Lineup of Upcoming World-Class Liquefied Natural Gas Projects 23
3.3 Major Operator in Permian Basin with Large Production Base 25
4 Apache Corporation, SWOT Analysis 28
4.1 Strengths 28
4.1.1 Wide Geographic Presence with a Diversified Asset Portfolio 28
4.1.2 Strong Exploration and Development Activities to Enhance Resource Base 30
4.2 Weaknesses 32
4.2.1 Political Unrest In Egypt 32
4.2.2 Dependence on Third Parties for the Marketing of Crude Oil and Natural Gas 33
4.3 Opportunities 33
4.3.1 Substantial Exploration and Development Potential 33
4.4 Threats 34
4.4.1 Highly Volatile Commodity Prices 34
4.4.2 Severe Weather Conditions 34
5 Apache Corporation, Exploration, Development and Production Overview 35
5.1 Exploration and Development Profile 36
5.2 Production Profile 40
5.3 Asset Profile 43
5.3.1 North America 43
5.3.2 Apache’s International Assets 50
6 Capital Expenditure 56
6.1 Costs Incurred 57
7 Apache Corporation, Forecast Production and Financial Statements 61
7.1 Income Statement (2011-2018) 62
7.2 Balance Sheet (2011-2018) 64
7.3 Cash Flow Statement (2011-2018) 65
8 Apache Corporation, Valuation 67
8.1 Net Asset Value Methodology 67
9 Apache Corporation, Peer Comparison 68
9.1 Share Price Performance 68
9.2 Operational and Financial Performance 69
9.3 Key Financial and Operational Ratio 75
10 Apache Corporation, Production and Reserves Trends 78
10.1 Total Oil and Gas, Reserves and Production 78
10.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 78
10.1.2 Total Crude Oil & Natural Gas Production and Reserves by Country/Region, 2009-2013 80
10.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 83
10.2 Crude Oil/Liquids Production and Reserve 85
10.2.1 Crude Oil/Liquids Production and Reserve Trend, 2009-2013 85
10.2.2 Crude Oil Production and Reserves by Country/Region, 2009-2013 86
10.2.3 Crude Oil/Liquids Reserve Changes, 2009-2013 89
10.3 Natural Gas Production and Reserve 90
10.3.1 Natural Gas Production and Reserve Trend, 2009-2013 90
10.3.2 Natural Gas Production and Reserves, By Country/Region, 2009-2013 91
10.3.3 Natural Gas Reserve Changes, 2009-2013 94
10.4 Total Crude Oil and Natural Gas Reserves Life Index 95
10.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 95
10.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 96
11 Apache Corporation, E&P Costs Trends 100
11.1 Allocation of the Upstream Capital Expenditure 100
11.1.1 Upstream Capital Expenditure, 2009-2013 100
11.1.2 Acquisition Costs by Country/Region, 2009-2013 101
11.1.3 Exploration and Development Costs, By Country/Region, 2009-2013 104
11.2 Oil and Gas Cost Per boe, US$/boe 107
11.2.1 Oil and Gas Cost Per boe, US$/boe, 2009-2013 107
11.2.2 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 109
12 Apache Corporation, Reserve Replacement Ratio 112
12.1 Oil and Gas Production Replacement Ratio 112
12.1.1 Oil and Gas Production Replacement Ratio, 2009-2013 112
12.1.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 114
13 Apache Corporation, Results of Oil & Gas Operations Trend 122
13.1 Oil and Gas Revenue and Expenses 122
13.1.1 Oil and Gas Revenue and Expenses, 2009-2013 122
13.1.2 Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 123
13.2 Oil and Gas Revenue and Expenses, Per boe 132
13.2.1 Oil and Gas Revenue and Expenses, by boe, 2009-2013 132
13.2.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 133
13.2.3 Oil and Gas Performance Metrics 140
14 Apache Corporation, Land Holdings and Well Data 141
14.1 Developed and Undeveloped Acreage 141
14.1.1 Gross and Net Developed and Undeveloped Acreage, 2009-2013 141
14.1.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 142
14.2 Well Statistics 147
14.2.1 Producible Oil and Gas Well, 2009-2013 147
14.2.2 Producible Oil and Gas Well, By Country/Region, 2009-2013 148
14.2.3 Exploration and Development Wells Drilled, 2009-2013 157
14.2.4 Exploration and Development Wells Drilled, By Country/Region, 2009-2013 158
15 Appendix 162
15.1 Abbreviations 162
15.2 Sources 164
15.3 Research Methodology 165
15.3.1 Coverage 165
15.3.2 Secondary Research 165
15.3.3 Primary Research 166
15.4 Disclaimer 166

1.1 List of Tables
Table 1: Apache Corporation, Average Rigs and Wells Planned, North America, 2014 21
Table 2: Apache Corporation, Total Proved Reserves, Production and Acreage, 2011-2013 30
Table 3: Apache Corporation, Total Oil and Gas Production Forecast, 2011-2018 42
Table 4: Apache Corporation, Costs Incurred (US$ mil), 2009-2013 58
Table 5: Apache Corporation, Reserve Replacement Ratio (%) and Finding and Development Costs Incurred (US$/boe), 2010-2013 60
Table 6: Apache Corporation, Historical and Forecast Production, 2011-2018 61
Table 7: GlobalData, Price Forecasts, 2014-2018 61
Table 8: Apache Corporation, Income Statement (US$ mil), 2011-2018 62
Table 9: Apache Corporation, Balance Sheet (US$ mil), 2011-2018 64
Table 10: Apache Corporation, Cash Flow Statement (US$ mil), 2011-2018 65
Table 11 Apache Corporation, Net Asset Value, 2014 67
Table 12: Apache Corporation, Peer Group Comparison, Operational and Financial Performance, 2013 69
Table 13: Apache Corporation, Peer Group Comparison, Total Reserves and Production (mmboe), 2013 73
Table 14: Apache Corporation, Peer Group Comparison, Financial and Operational Ratios, 2013 75
Table 15: Apache Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 79
Table 16: Apache Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 82
Table 17: Apache Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 84
Table 18: Apache Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 86
Table 19: Apache Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 88
Table 20: Apache Corporation, Crude Oil Reserve Changes, mmbbl, 2009-2013 89
Table 21: Apache Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 90
Table 22: Apache Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 93
Table 23: Apache Corporation, Natural Gas Reserve Changes, bcf, 2009-2013 94
Table 24: Apache Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 95
Table 25: Apache Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 99
Table 26: Apache Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 101
Table 27: Apache Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 103
Table 28: Apache Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 106
Table 29: Apache Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 107
Table 30: Apache Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 110
Table 31: Apache Corporation, Oil and Gas Production Replacement Ratio, %, 2009-2013 112
Table 32: Apache Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 120
Table 33: Apache Corporation, Revenue and Expenses, US$ mil, 2009-2013 122
Table 34: Apache Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 129
Table 35: Apache Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 132
Table 36: Apache Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 138
Table 37: Apache Corporation, Oil and Gas Performance Metrics, 2009-2013 140
Table 38: Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 142
Table 39: Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 145
Table 40: Apache Corporation, Producible Oil and Gas Wells, 2009-2013 147
Table 41: Apache Corporation, Producible Oil and Gas Wells, By Country/Region, 2009-2013 154
Table 42: Apache Corporation, Exploratory and Developed Wells, 2009-2013 158
Table 43: Apache Corporation, Exploratory and Developed Wells, By Country/Region, 2009-2013 158

1.2 List of Figures
Figure 1: Apache Corporation, Financial and Operational Overview, 2010-2013 18
Figure 2: Apache Corporation, Share Price Movement, September 2013-August 2014 20
Figure 3: Apache Corporation, Total E&D Capital Expenditure (US$ billion), North America, 2014 22
Figure 4: Apache Corporation, Wheatstone Project Location, Australia, 2014 24
Figure 5: Apache Corporation, Kitimat Project Location, Canada, 2014 25
Figure 6: Apache Corporation, Average Number of Operated Rigs, Permian Basin, US, 2010-Q2 2014 26
Figure 7: Apache Corporation, Total Production (mboed), Permian Basin, US, 2010-Q2 2014 27
Figure 8: Apache Corporation, Proved Reserves, Production and Acreage, by Region, 2011-2013 29
Figure 9: Apache Corporation, Net Productive and Dry Exploratory and Development Wells, 2009-2013 31
Figure 10: Apache Corporation, Exploration Drilling Success Ratio (%), 2009-2013 32
Figure 11: Apache Corporation, Operational Map, 2014 35
Figure 12: Apache Corporation, Net Productive and Dry Exploratory and Development Wells, 2009-2013 36
Figure 13: Apache Corporation, Net Total Dry and Productive Exploratory Wells, 2009-2013 37
Figure 14: Apache Corporation, Net Total Dry and Productive Development Wells, 2009-2013 38
Figure 15: Apache Corporation, Net Total Oil and Gas Productive and Dry Exploratory Wells, by Region, 2009-2013 39
Figure 16: Apache Corporation, Net Total Oil and Gas Productive and Dry Development Wells, by Region, 2009-2013 40
Figure 17: Apache Corporation, Historical and Estimated Production (mmboe), 2011-2018 41
Figure 18: Apache Corporation, Production Mix (%), 2011-2018 42
Figure 19: Apache Corporation, Operational Map, US, 2014 43
Figure 20: Apache Corporation, Operational Map, Permian Region, US, 2014 45
Figure 21: Apache Corporation, Operational Map, Central Region, US, 2014 46
Figure 22: Apache Corporation, Operational Map, Texas, Gulf Coast Region, US, 2014 48
Figure 23: Apache Corporation, Operational Map, Canada, 2014 50
Figure 24: Apache Corporation, Operational Map, Egypt, 2014 52
Figure 25: Apache Corporation, Operational Map, Australia, 2014 54
Figure 26: Apache Corporation, Operational Map, UK North Sea, 2014 55
Figure 27: Apache Corporation, Total Capital Expenditure (US$ mil), 2009-2013 56
Figure 28: Apache Corporation, E&D Capital Expenditure (US$ bil), by Region, 2011-2013 57
Figure 29: Apache Corporation, Costs Incurred (US$ mil), 2009-2013 58
Figure 30: Apache Corporation, Costs Incurred (US$ bil), by Region, 2011-2012 59
Figure 31: Apache Corporation, Reserve Replacement Ratio (%) and Finding and Development Costs Incurred (US$/boe), 2010-2013 60
Figure 32: Apache Corporation and Peers, Relative Share Price Performance Index (%), September 2013-August 2014 68
Figure 33: Apache Corporation, Financial Parameters, 2010-2013 70
Figure 34: Apache Corporation and Peer Group, Financial Parameters, 2013 71
Figure 35: Apache Corporation and Peer Group, F&D Cost and Reserve Replacement Comparison, 2013 72
Figure 36: Apache Corporation, Peer Group Comparison, Total Reserves and Production (mmboe), 2013 73
Figure 37: Apache Corporation and Peer Group, Reserve Life Index (Years), 2013 74
Figure 38: Apache Corporation, Peer Group Comparison, Valuation Ratios, 2013 77
Figure 39: Apache Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 78
Figure 40: Apache Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 80
Figure 41: Apache Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 81
Figure 42: Apache Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 83
Figure 43: Apache Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 85
Figure 44: Apache Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 86
Figure 45: Apache Corporation, Oil Production, By Country/Region, mmbbl, 2009-2013 87
Figure 46: Apache Corporation, Crude Oil Reserve Changes, mmbbl, 2013 89
Figure 47: Apache Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 90
Figure 48: Apache Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 91
Figure 49: Apache Corporation, Gas Production, By Country/Region, bcf, 2009-2013 92
Figure 50: Apache Corporation, Natural Gas Reserve Changes, bcf, 2013 94
Figure 51: Apache Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 95
Figure 52: Apache Corporation, Gas Reserve Life Index, By Country/Region, Years, 2009-2013 96
Figure 53: Apache Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 97
Figure 54: Apache Corporation, Oil Reserve Life Index, By Country/Region, Years, 2009-2013 98
Figure 55: Apache Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 100
Figure 56: Apache Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 101
Figure 57: Apache Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 102
Figure 58: Apache Corporation, Development Costs, By Country/Region, US$ mil, 2009-2013 104
Figure 59: Apache Corporation, Exploration Costs, By Country/Region, US$ mil, 2009-2013 105
Figure 60: Apache Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 107
Figure 61: Apache Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2009-2013 109
Figure 62: Apache Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2009-2013 110
Figure 63: Apache Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 112
Figure 64: Apache Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 114
Figure 65: Apache Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 115
Figure 66: Apache Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 116
Figure 67: Apache Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 117
Figure 68: Apache Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 118
Figure 69: Apache Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 119
Figure 70: Apache Corporation, Revenue and Expenses, US$ mil, 2009-2013 122
Figure 71: Apache Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 123
Figure 72: Apache Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 124
Figure 73: Apache Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 125
Figure 74: Apache Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 126
Figure 75: Apache Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 127
Figure 76: Apache Corporation, Production Costs, By Country/Region, US$ mil, 2009-2013 128
Figure 77: Apache Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 129
Figure 78: Apache Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 132
Figure 79: Apache Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2009-2013 133
Figure 80: Apache Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2009-2013 134
Figure 81: Apache Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2009-2013 135
Figure 82: Apache Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2009-2013 136
Figure 83: Apache Corporation, Total DD&A per boe, By Country/Region, $/boe, 2009-2013 137
Figure 84: Apache Corporation, Total Revenue per boe, By Country/Region, $/boe, 2009-2013 138
Figure 85: Apache Corporation, Oil and Gas Performance Metrics, 2009-2013 140
Figure 86: Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 141
Figure 87: Apache Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 142
Figure 88: Apache Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 143
Figure 89: Apache Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 144
Figure 90: Apache Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 145
Figure 91: Apache Corporation, Producible Oil and Gas Wells, 2009-2013 147
Figure 92: Apache Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 148
Figure 93: Apache Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 149
Figure 94: Apache Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 150
Figure 95: Apache Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 151
Figure 96: Apache Corporation, Net Productive Gas Wells, By Country/Region, Number, 2009-2013 152
Figure 97: Apache Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 153
Figure 98: Apache Corporation, Net Productive Oil Wells, By Country/Region, Number, 2009-2013 154
Figure 99: Apache Corporation, Exploratory and Developed Wells, 2009-2013 157


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