APA Corporation

APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.

As of December 31, 2025, the company had 1056 e6BOE of estimated proved reserves, of which 74% was in the United States (primarily in the Permian Basin), 17% was in the Libyan Desert in Egypt, 2% was in the Forties oilfield in the North Sea, and 7% was offshore of Suriname.[1] The company's proved reserves were 48% petroleum, 23% natural gas liquids, and 29% natural gas.[1]

The company is ranked 422nd on the Fortune 500[2] and 1467th on the Forbes Global 2000.[3]

History

In 1954, the Apache Oil Corporation was founded in Minneapolis, Minnesota, by Truman Anderson, Raymond Plank and Charles Arnao with $250,000 in funding.[4]

In 1955, the first wells were drilled in the Cushing field, between Tulsa and Oklahoma City.

In 1960, the company acquired interests in the Foshay Tower, a Minneapolis landmark. The 32-story imitation of the Washington Monument, became the company's headquarters from the early 1960s until 1984.

In 1967, the oil well Fagerness #1 was drilled, yielding the company's first major discovery.

In 1969, the company became a public company via an initial public offering.

In 1970, the company diversified into agriculture with the acquisition of the S&J Ranch in California. The ranch produced citrus fruit, figs, pistachios, olives, and almonds.[5] It was sold in 1987 to Castle & Cooke.[6]

In 1971, the company formed Apache Exploration Company (subsequently "Apexco") as its oil and gas operating company.[5]

In 1977, the company sold Apexco and its non-petroleum holdings, including the ranch, and reinvested into a farm-in agreement with GHK to operate its wells in the Anadarko Basin.[5]

In 1980, the company acquired a non-operating interest, via a participation in a Royal Dutch Shell joint venture, in operations in the Gulf Of Mexico.[5]

In 1981, the company created Apache Petroleum Company (APC), the first public master limited partnership in the United States.[7]

In 1985, the company acquired oil and gas wells in eight states from David Holdings for $200 million. In 1986, the company acquired oil and gas assets in the Gulf of Mexico from Occidental Petroleum.[8]

In 1987, the company moved its headquarters from Minneapolis to Denver.[5]

In 1991, the company doubled its reserves by acquiring assets from Amoco, including a position in the Permian Basin of West Texas, for $515 million and 2 million shares of the company.[9][10]

In 1992, the company moved its headquarters to Houston, Texas and signed a lease for 220,000 square feet of office space.[11]

In 1993, the company acquired Hadson Energy Resources for $58 million, expanding its assets to offshore Western Australia.[12]

In 1994, the company began operations in Egypt by acquiring a 25% non-operated interest in the Qarun Concession, operated by the Phoenix Resource Companies. Production began in December 1995.[13]

In 1995, the company acquired Dekalb Energy Canada, marking the company's return to Canada, for $285 million in stock.[14]

In 1995, the company also 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.[15]

In 1996, the company acquired Phoenix Resources and took over operations of the Qarun Concession in Egypt.[16]

In 1999, the company acquired fields and leases in the Gulf of Mexico from Royal Dutch Shell for $715 million in cash, plus 1 million shares of stock.[17]

In 2001, the company acquired operations in the Libyan Desert of Egypt from Repsol for $410 million.[18]

In 2002, the company drilled its first deep-water wells in the West Mediterranean Concession of offshore Egypt.[19]

In 2003, the company acquired the Forties oilfield, the largest field ever discovered in the United Kingdom North Sea as well as assets in the Gulf of Mexico from BP for $1.3 billion.[20]

In May 2005, the company and ExxonMobil completed a series of agreements that provided for transfers and joint ventures across a broad range of properties in Western Canada.[21]

In October 2005, the company sold its 55% stake in the deep-water section of Egypt's concession for $413 million to Hess Corporation.[22]

In April 2006, the company acquired Gulf of Mexico Shelf properties from BP.[23]

In June 2006, the company sold its oil production interest in China to Australia-based Roc Oil Company for US$260 million.[24]

In 2007, A test horizontal well at the Van Gogh project, in Exmouth Gulf, Western Australia, produced 9,694 barrels per day.[25]

In February 2010, the company started production from the Van Gogh development offshore Western Australia.[26]

In June 2010, the company acquired assets in the Gulf of Mexico from Devon Energy for $1.05 billion.[27]

In August 2010, the company acquired assets from BP in Texas, southeast New Mexico, western Canada, and Egypt for $7 billion.[28][29]

In November 2010, the company acquired Mariner Energy for $2.7 billion.[30]

In 2011, the company discovered eight oil wells in Egypt's Faghur Basin.[31]

In January 2012, the company acquired assets in the Beryl field in the North Sea from ExxonMobil.[32]

In May 2012, the company acquired Cordillera Energy Partners for $2.5 billion in cash and 6.3 million shares of common stock. The acquisition added approximately 71 e6BOE to Apache's reserves and strengthened its position across western Oklahoma and the Texas Panhandle.[33]

In November 2013, the company sold a non-controlling 1/3 share of its Egyptian assets to Sinopec[34]

In 2015, the company sold its assets in Western Australia for $2.1 billion.[35]

In 2016, the company sold its interest in the Scottish Area Gas Evacuation pipeline.[36]

In 2017, the company sold its assets in Canada to Paramount Resources for C$459.5 million.[37]

In 2020, the company declared its 'Alpine High' discovery to be a failure despite spending $3 billion on the play.[38] Steven Keenan, VP of global exploration and Lead Geologist on the play, resigned.[39]

In January 2021, the company redid its agreement with the Egyptian General Petroleum Corporation.[40]

In March 2021, the company reorganized its legal structure, with APA Corporation becoming the holding company for all of its subsidiaries.[41]

In April 2024, the company acquired Callon Petroleum for $4.5 billion in stock.[42][43]

In June 2025, the company sold its assets in New Mexico for $608 million.[44]

Environmental issues

As of 2024, the company ranked as the 98th-largest fossil fuel producer by historical greenhouse gas emissions, having emitted 2,193 MtCO₂e, accounting for 0.10% of total global emissions.[45]

External links