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]
