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| Type | Public (NYSE: APA) |
|---|---|
| Founded | 1954 |
| Founder(s) | Truman Anderson Charles Arnao Raymond Plank |
| Headquarters | Houston, TX, USA |
| Area served | Worldwide |
| Key people | G. Steven Farris (CEO) (Chairman of the Board) |
| Industry | Oil Production |
| Products | Petrochemical products |
| Revenue | ▲ $ 12.389 billion (2008) |
| Operating income | ▼ $ 932.39 million (2008) |
| Net income | ▼ $ 711.95 million (2008) |
| Total assets | ▲ $ 29.186 billion (2008) |
| Total equity | ▲ $ 16.508 billion (2008) |
| Employees | 3639 (2008) |
| Subsidiaries | Apache Canada Ltd Apache Energy Limited Apache North America Apache Overseas, Inc DEK Energy Company |
| Website | ApacheCorp.com |
Apache Corporation NYSE: APA is an American independent oil and gas corporation. It is headquartered in Suite 100 at 1 Post Oak Central in the Uptown district of Houston, Texas.[1][2]
Apache has become a large multinational company, with regional offices and operations in Argentina, Australia, Canada, Egypt and UK North Sea.[3]
In 2009, Apache's market capitalization is approximately $23 billion. The company reserves are roughly half oil and half natural gas.[4]
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.
- 2008 fire at Varanus Island facility in Western Australia stops natural gas production and causes an energy crisis.
References
- ^ "Contact Us." Apache Corporation. Retrieved on April 24, 2009.
- ^ "Uptown District Map." Uptown Houston District. Retrieved on January 30, 2009.
- ^ Apache Corp. "Regions". http://www.apachecorp.com/Contact_us/Regions/index.aspx.
- ^ Apache Corp. "Annual Report". http://www.apachecorp.com/Investors/Annual_report.aspx.
External links
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Wikinews has related news: Apache pipeline fire - Varanus Island, Western Australia |
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