Apache Corporation

Apache Corporation

Type	Public (NYSE: APA) S&P 500 Component
Industry	Oil Production
Founded	1954
Founder(s)	Truman Anderson Charles Arnao Raymond Plank
Headquarters	Houston, Texas, U.S.
Area served	Worldwide
Key people	G. Steven Farris (CEO) (Chairman of the Board)
Products	Petrochemical products
Revenue	$ 12.092 billion (2010)
Operating income	$ 5.206 billion(2010)
Net income	$ 3.032 billion (2010)
Total assets	$ 43.425 billion (2010)
Total equity	$ 24.377 billion (2010)
Employees	4449 (2011)
Subsidiaries	Apache Canada Ltd Apache Energy Limited Apache North America, Inc Apache Overseas, Inc DEK Energy Company
Website	ApacheCorp.com

Post Oak Central has the headquarters of Apache Corp.

Apache Corporation NYSE: APA is an American independent oil and gas corporation. It is headquartered in 1 Post Oak Central in the Uptown district of Houston, Texas.

Apache has become a large multinational company, with regional offices and operations in the United States, Argentina, Australia, Canada, Egypt and UK North Sea.^[1]

In 2010, Apache's market capitalization is approximately $30 billion. The company's proved reserves at year-end 2009 totaled 2.37 billion barrels of oil equivalent, roughly half oil and half natural gas.^[2]

History

• 1954 Apache Oil Corporation is founded in Minneapolis, Minnesota, by Truman Anderson, Raymond Plank and Charles Arnao.
• 1955 The first wells were drilled in the Cushing field, between Tulsa and Oklahoma City.
• 1960 Apache acquired interests in the Foshay Tower (a Minneapolis landmark). The 32-story imitation of the Washington Monument, will become Apache’s headquarters location from the early ‘60s until 1984.
• 1967 Fagerness #1 oil discovery.
• 1969 Apache Corporation shares were listed on the New York Stock Exchange (NYSE: APA).
• 1970 Apache expanded in agriculture with the acquisition of Fresno, California’s S&J Ranch.
• 1971 Apache Corporation formed Apache Exploration Company (subsequently “Apexco”) as the oil and gas operating child company.
• 1977 Following the sale of Apexco, Apache operates GHK's drilling program in the Anadarko basin.
• 1980 Apache acquired non-operating interest (through participation in the Shell Joint Venture) in the Gulf Of Mexico, opening the door to production on the Outer Continental Shelf.
• 1981 Apache created Apache Petroleum Company (APC), US's first master limited partnership (MLP).
• 1986 Apache acquired oil and gas assets from Occidental Petroleum (Oxy), marking Apache’s entry to the Gulf of Mexico as an operator.
• 1987 Apache moved its headquarters from Minneapolis to Denver.
• 1991 Apache acquired the MW Petroleum assets from Amoco, buying Apache a position in the Permian Basin of West Texas.
• 1992 Headquarters moved to Houston, Texas
• 1993 Apache acquires Hadson Energy Resources, expanding Apache's assests to offshore Western Australia.
• 1994 Apache entered Egypt by acquiring a 25 percent non-operated interest in the Qarun Concession alongside the Phoenix Resource Companies.
• 1995 Apache acquired Dekalb Energy Canada Ltd, marking Apache's return to Canada; Apache 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.
• 1996 Apache merged with Phoenix Resources and took over operations of the Qarun Concession in Egypt.
• 1999 Acquisition of Shell assets in the Gulf of Mexico.
• 2001 Acquisition of $410 million worth of Repsol assets expanded Apache's oil and gas operations in Egypt’s Western Desert.
• 2002 Apache Corporation drilled its first deepwater wells in the West Mediterranean Concession offshore Egypt.
• 2003 Apache acquired the Forties Field, the largest field ever discovered in the United Kingdom North Sea from BP.
• 2005 Apache and ExxonMobil completed a series of agreements that provided for transfers and joint ventures across a broad range of properties in the Permian Basin of West Texas and New Mexico, Western Canada, onshore Louisiana, and the Gulf of Mexico Shelf.
• 2006 Apache completed the sale of its oil production interest in China to Australia-based ROC Oil Company Limited for US$260 million. It also bought a large majority of BP's Gulf of Mexico Shelf properties.
• 2007 A test horizontal well at the Van Gogh project, in Exmouth Gulf, Western Australia, produced 9,694 barrels per day.
• 2007 Apache CEO G. Steven Farris writes to the U.S. Securities and Exchange Commission in favor of limits on nonbinding shareholder proposals at public company annual meetings. ^[3]
• 2008 Natural gas pipeline explosion at Apache's Varanus Island processing hub on 3 June 2008 curtailed supplies to industrial customers in Western Australia. Apache restored 60 percent of Varanus Island gas deliveries on Aug. 8, 2008. ^[4]Various litigation has been instigated as a result of the Varanus Island gas pipeline explosion, including a claim lodged in Texas by Pankaj Oswal of Burrup Holdings. This case is ongoing.
• 2010 Apache commenced production from Van Gogh development offshore Western Australia.
• 2010 Federal judge upholds Apache'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. ^[5]
• 2010 Apache announces planned merger with Mariner Energy for $2.7 billion.^[6]
• 2010 Apache announces that it was purchasing major assets from BP in Texas, southeast New Mexico, western Canada, and Egypt for a total sum of $7 billion, to pay for BP's response to the Deepwater Horizon Oil Spill.^[7]
• 2011 Apache announces the discovery of eight new oil wells in Egypt's Faghur Basin.^[8]

Corporate headquarters

Apache is headquartered in Suite 100 at 1 Post Oak Central in the Uptown district of Houston, Texas.^[9][10] In 2010 the President of Apache, Roger Plank, said that because the company has its headquarters in Houston, it wants to "support organizations that make Houston a better place to live."^[11]

References

1. ^ Apache Corp. "Regions". http://www.apachecorp.com/Operations/index.aspx. 
2. ^ Apache Corp. "Annual Report". http://www.apachecorp.com/Investors/Annual_report.aspx. 
3. ^ "Farris SEC letter Oct. 2, 2007". http://www.sec.gov/comments/s7-16-07/s71607-465.pdf. 
4. ^ "Apache Corporation Form 10-Q Quarterly Report, Nov. 10, 2008". http://investor.apachecorp.com/secfiling.cfm?filingID=950129-08-5541. 
5. ^ "Forbes.com: Susman Godfrey L.L.P. Wins First-of-Its-Kind Judgment for Apache Against Shareholder Activist". http://www.forbes.com/feeds/prnewswire/2010/03/12/prnewswire201003121101PR_NEWS_USPR_____DA69677.html. ^{[dead link]}
6. ^ Energy giant Apache acquires Mariner Energy for $2.7 billion
7. ^ BP to sell assets for $7 billion to Apache
8. ^ "Apache Unveils Five Oil Discoveries In Egypt". Wall Street Journal. Dow Jones Newswires. 16 June 2011. http://online.wsj.com/article/BT-CO-20110616-709250.html. Retrieved 21 June 2011. "The latest finds bring the company's discoveries in the Faghur Basin region to eight this year." 
9. ^ "Contact Us." Apache Corporation. Retrieved on April 24, 2009.
10. ^ "Uptown District Map." Uptown Houston District. Retrieved on January 30, 2009.
11. ^ McNulty, Sheila. "Houston: where energy is king." Financial Times. March 25, 2010. Retrieved on March 31, 2010.

External links

	Houston portal
	Companies portal

• Apache Corporation Homepage