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APA Corporation

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Apache Corporation
Company typePublic (NYSE: APA)
IndustryOil Production
Founded1954
FounderTruman Anderson
Charles Arnao
Raymond Plank
HeadquartersHouston, TX, USA
Area served
Worldwide
Key people
G. Steven Farris (CEO)
(Chairman of the Board)
ProductsPetrochemical products
RevenueIncrease $ 12.389 billion (2008)
Decrease $ 932.39 million (2008)
Decrease $ 711.95 million (2008)
Total assetsIncrease $ 29.186 billion (2008)
Total equityIncrease $ 16.508 billion (2008)
Number of employees
3639 (2008)
SubsidiariesApache Canada Ltd
Apache Energy Limited
Apache North America
Apache Overseas, Inc
DEK Energy Company
WebsiteApacheCorp.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 Argentina, Australia, Canada, Egypt and UK North Sea.[1]

In 2009, Apache's market capitalization is approximately $23 billion. The company reserves are 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 Offshore Continental Shelf.
  • 1981 Apache created Apache Petroleum Company (APC), US's first master limited partnership (MLP).
  • 1986 Apache acquired Oxi, marking Apache’s entry to the Gulf of Mexico as an operator.
  • 1987 Apache moved its headquarters of 33 years 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.
  • 1999 Acquisition of Shell assets in the Gulf of Mexico.
  • 2001 $410 million worth of Repsol assets acquisition made Apache the largest producer of liquid hydrocarbons 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 from BP, the largest field ever discovered in the United Kingdom North Sea.
  • 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 Steven Farris tells SEC that shareholder proposals should be banned.
  • 2008 fire at Varanus Island facility in Western Australia stops natural gas production and causes an energy crisis.
  • 2010 Apache sues shareholder who proposes improved corporate governance and does not accept questions at annual meeting.
  • 2010 Apache acquired Mariner Energy for $2.7 billion.[3]

Corporate headquarters

Apache is headquartered in Suite 100 at 1 Post Oak Central in the Uptown district of Houston, Texas.[4][5] In 2010 the President of Apache, Roger Plank, said that because the company has its headquarters in Houston, it wants to "support organisations that make Houston a better place to live."[6]

References

  1. ^ Apache Corp. "Regions".
  2. ^ Apache Corp. "Annual Report".
  3. ^ nergy giant Apache acquires Mariner Energy for $2.7 billion
  4. ^ "Contact Us." Apache Corporation. Retrieved on April 24, 2009.
  5. ^ "Uptown District Map." Uptown Houston District. Retrieved on January 30, 2009.
  6. ^ McNulty, Sheila. "Houston: where energy is king." Financial Times. March 25, 2010. Retrieved on March 31, 2010.
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